Private Money!

[Terry Duff]

Has anyone bought and used privatemoneygoldmine.com? Supposedly for $97 you get a list of private lenders who lend to RE Investors.

[Ann Bellamy]

I had an experience with them just yesterday. A borrower bought the privatemoneygoldmine.com list, or paid the fee to join, and sent an email to one of the "private lenders". The lender forwarded the inquiry to me because screening is one of the services we provide for this specific lender.

I spoke to the borrower, and he was annoyed that the rate he saw on the website: namely 6-12% with no points, was not the rate he was quoted by the lender or by me during the screening call. I went back to the lender, and asked why he had registered on a site quoting zero points when that obviously was not the case.

Turned out the lender never registered on privatemoneygoldmine.com and had never heard of it. To be sure, he tried to logon, and the system didn't recognize him. He submitted a password retrieval request, and the system didn't recognize his email address as one that was in their system.

So evidently they had scraped his information from another source, or some website where he did register is using that data with a second website and advertising it as "private money".

Stay away, it's a scam. Sorry it's a long explanation, but I thought some of you might like to know the real deal on this website.