being approached by private lender?

[Jen Siegrist]

Hello all,

I'm fairly new around here but I've been inhaling the information since stumbling upon this group. I did my first deal as a "life Hack" at the beginning of last year. I purchased a HUD home for $55 and had a 203K loan bringing it up to $86 in a neighborhood where the average was $115-120. I also did a LOT of the work myself and put in another $12 out of pocket. In the end, I sold for $130 about 15 months later and purchased the next house conventional with a large chunk of the proceeds as the down payment.

   Somehow an investment group has spotted the above deal and, I suspect they don't know the 203k or out of pocket part, they've started sending me initial approach snail mail to use them as a lender.  Now, I don't trust anyone and the above really was a stroke of well informed luck but, I'm wondering if anyone here has worked with this Dominion Financial Services and what do they think of them.  This current purchase has me strapped for the moment but I'd like to try another deal while I'm finishing up the work on this current house.  The plan is to stagger-step the living situation/life hacking much in the same way one would stagger cds maturing at the bank.  Any thoughts?

Oh! Also, I've been a fraud victim for a good 20yrs.  It's kinda an issue when strange lenders approach me???

[Alex Deacon]

@Jen Siegrist I am also always skeptical. check them out and ask for 10 references from them. Also find out what their terms are etc...  They may be a good source of capital but you wont know till you research and ask the right questions.