My experience with dohardmoney.com

[Mark Kumm]

The first time I talked to them on the phone it seemed too good to be true! I asked them straight forward questions about there financing and they stated that there interest rate was only 5%. I was amazed by that and asked how they could do that and make money? She stated that they make money from a long term relationship and multiple deals from the same person. I was intrigued and started to do some more research. Come to find out they charge the usual high rates of 15-18%. When I called back and asked why she told me 5% and the websites stated 15-18%, she proceeded to make the excuse that she doesn't use the standard system for figuring interest rate, instead she uses a system that makes it sound as if you're getting a great deal. She clearly knew that I thought it was a great deal and made no effort to clarify. To me that is a red flag. You never want to do business with anyone being deceptive! 

Secondly they require $3,000 up front just to be a member. That my friends is the biggest red flag! You need to run, run run!

[Mark Kumm]

Thank you Jonathan Dick for your response. I am glad you will make sure that the interest rate will be clarified in the future! I still however would like to know why you feel it's ok to charge $3,000 just to be a member? Your company appears to be set up like the traveling scam artists that draw people in with celebrities in there seminars charging thousands of dollars to get there magical system. Only to end up with information that is readily available for free. I was told you charge that $3,000 because previous members never bought a property. So what if they don't, it doesn't cost you one cent! The only reason you would charge $3,000 up front is to guarantee money for yourself, without ever guaranteeing anything for the customer. I have read many complaints from your customers who forked up the hefty gift of $3,000, only to be denied a loan when they find a deal, even when it fits your criteria. Then when asked for a refund of the gift of $3,000, they just get ignored and brushed off. Please don't tell me that $3,000 pays for information on how to flip, because as mentioned before any information you may or may not give, is readily available for FREE! I'm sorry but taking advantage of people who don't know any better is wrong, and Kharma is real. So in conclusion anyone who has done this for awhile can see that your up front fee is at the very least a red flag, and for this I will continue to warn everyone I can to be very wary of your company!