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Georgia Real Estate Q&A Discussion Forum
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Updated over 7 years ago on . Most recent reply

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5
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6
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Velma Trayham
  • Flipper
  • Atlanta, GA
6
Votes |
5
Posts

Who are reputable private money lenders in Atlanta, Ga ?

Velma Trayham
  • Flipper
  • Atlanta, GA
Posted

I recently had someone who claimed to be a private money lender ask to log in to my bank account as a criteria, which then I began to get skeptical. And when I began to ask questions of the lender like what his website, references  of others in which he  have loaned money to, the reply was he cant share his other clients information. So basically nothing verifiable. When I googled his name nothing came up. He claimed he was not on social media. I mean come on .. who is not on social media these days?  Long story short..... I think there are some scams on these sites posing as lenders to get your personal information. I have previously been funding my deals myself but now have decided to leverage my money by using private money. Have anyone experienced this before? How can we prevent this from happening especially  to someone that may not be savvy enough to ask the right questions and conduct the proper vetting? 

Any good solid credible  referrals for private lenders investing in Atlanta, Ga area?

Most Popular Reply

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313
Posts
207
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Stan Sugarman
  • Investor
  • Decatur, GA
207
Votes |
313
Posts
Stan Sugarman
  • Investor
  • Decatur, GA
Replied

I am a lender in Atlanta and have never heard the bank account log in criteria before. I have asked for bank records but the borrower can black out all but the last 4 digits. The industry is unlicensed in Georgia but a reputable lender should have references to share. All of us lenders know each other and refer business back and forth so feel free to ask questions. The big companies are Lima One, Angel Oak and Paces Funding. We are a niche lender so we don't offer the range of products they offer.

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