Any experience Clyde Lewis Loan FIrm??

Question

Hi, I'm Kevin and have listing (loan) on another site,( didn't know about this one) and looking for private money lender, a guy name Clyde Lewis said he would make loan at 5%. Application was very generic and seemed may have been setup for another country possibly. Used things like surname and passport id # etc. no company logo or website, but he is a private lender.? Any suggestions or tips would be appreciated.

Kevin

Roy N. · Answer

Exercise caution.

Private lenders are typically folks you already know or whom you meet through existing acquaintances.

I would be wary of folks who are advertising on or trolling internet websites, particularly if they are offering unbelievable rates  - I would put 5% in the unbelievable category as private money, even up here in Canada where rates are lower, goes for 8 - 12% depending on the risk ... and if I have no history with you and you have little to no history in the industry, the risk would be considered high.

Sometimes these folks will ask for up-front processing fees - a HUGE red flag as there is no need for any lender to ask for up-front payment.  Other times they are looking for personal information for identity theft purposes.

Finally, there is a possibility this fellow is legit, but simply very new or awkward at what he does, however, my position would be the former and the latter would need to be proved before I shared any information.

I would also ask that he walk you though  the application and lending process step-by-step before you share anything.

Trottie McQueen · Answer

I ran into the same guy from a different RE site and I have to agree. When I spoke with him on the phone I couldn't really make out what he was saying but definately foreign. I had the same issue with downloading the application he emailed to me. I told him about it and he told me that he was technical difficulties Im glad I googled him and thanks to you guys you all just confirmed and thanks to BP!

Kevin McIntyre · Answer

Thanks everyone for input. I decided not to deal with that person or send information. I think I knew the answer....just if that person had been creditable, it may have been worth pursuing.

Jay Hinrichs · Answer

All I can say is there are far more scammers than real lenders real lenders have a real website

they disclose who they are personally and you can check up on them.

private lenders are people you know.. very few if any private lenders are going to lend to someone they don't know simple as that.

if this is owner OCC then most folks won't loan on it for any reason. .because of dodd frank

HELOC is best bet or credit union.

Kevin McIntyre · Answer

Roy, normally you are correct. I don't have 2 yrs of self-employed tax records. I worked for state of Okla until Aug last year, so had W-2 (paystub). Moved to NC last December because of kids and have been operating full time as self employed. My taxes are up to date, but I did file extension because of move and getting settled in NC, unfortunately that doesn't help not to have 2015 tax return in hand. The last factor is time, I am at 11th hour....... I am going to Sturgis SD and have 3 sites secured to sell Beef Jerky, (BTW Best stuff you have ever tasted!). Looking for some operating costs and purchase product.

Have funds to do normal home shows, car shows, was at Bassmaster Classic in Tulsa OK this year, but Sturgis will be a little bigger scale.

Enjoy the input, do have to get ready for Church service, will check back in a bit.

Robert Shelton · Answer

I agree with @Roy N.  I would think people seeking to be a private lender would be more savvy and would want a higher interest rate.

I just finished up a deal with a private lender who gave me 6%... so I wouldn't say 5% would be unbelievable.  But definitely on the extreme low side.

Personally, I would want to have some conversations and build a relationship before I partnered with any private lender.

Jay Statzer · Answer

That took a lot of work to post this and then scrub it, I hope BP will agree to show you the contacts you need to recognize this scammer. and maybe help his last victim.

Jay Statzer · Answer

And here's the thread of the contact with this guy. I think I'll do a video with this and really blast him! I'm resisting the urge to editorialize/heckle and give it to my BP peeps as a public service announcement..

First off, the emailed offer,

Friday, January 6, 2017 5:57 PM

You are welcome to 	funding Services, I am assuring you that you will get your loan as 	soon as we are done with all the due your Loan funds within 48HRS if 	you agreed with the terms below, and a Valid ID is needed to know 	and to verify the true Loan Seeker.   Loan 	Balance:  $68,000.00   Adjusted Loan 	Balance: $68,000.00   Loan Interest Rate:  	5.00%   Loan Term:     	15 years   Monthly Loan Payment: $537.74   	Number of Payments:  180   Cumulative 	Payments:  $96,793.11   Total Interest 	Paid: $28,793.11 Note: The monthly loan payment was calculated 	at 179 payments of $537.74 plus a final payment of 	$537.65.  Identification: 	The borrower must provide either of the following:-A Driver's 	License, An International passport, Or a valid Identity Card bears 	his/ her name. I do hope you understand our loan repayment 	statements. If there is anything you think you don't understand, you 	can ask by replying. We want to know if you have a bank account. But 	if you don't have, we can proceed to send your funds VIA Certified 	Bank Check, International Bank Transfer (INBT), Your Urgent 	Response is required!!! Regards, NAME OF SERVING AGENT: …Clyde 	Lewis.

On Thursday, January 5, 2017 9:03 PM, Jim Statzer <xxxm> wrote:

Hello, I'm James Statzer and my hospitality business is expanding  by adding new locations. Attached please find the Executive Summary for xxx. Also attached is the application. I hope you will help me build my rental portfolio. This is a buy and hold so I offer a first position 15yr 6% with 10% already in escrow and 10% more down at closing. All closing costs rolled into the loan and appraisal is already in hand. I would also offer 15% of the profit when it sells if I sell it on lease option anytime during the loan.

Second. The Application is attached.

Thirdly, the entire phone conversation.

Hello good day Mr James .J. Yes, can I help ? (Then the difficult phone call and emailed form was received and submitted)This Clyde Lewis the private lender , I received the filled out application formJ. Very good.We are presently working on your loan repayment plan OK... I will give you a call shortly (That was last night, then the next morning...)(I was emailed a term sheet I'll post after this)Good Morning Sir.This my company cell number and I have lot of lenders under Clyde Lewis loan .J. I see I missed your call. Tried to call back. You may call me back now. (His phone was too crappy to communicate that way)Congratulation your ID as been verified .Your ID as been verified and There is an application fee of $350 needed from you before the contract document would be send to you to signed.. Once that as been done then funding can proceed into the bank details you provide. Details on how payment would be made will be send to your email shortly .(After an abortive callback from him bad delayed connection and clearly not understanding simple English questions)J. Still waiting for your fee payment details.You to make the payment to this details ..  NAME :Dianne Ford Pace .. Address : xxx AR USA.. Amount to send :$350..  send funds via money gram or western union..   Once payment as been made scan and send me the payment slip.The payment can not be debuted from the loan.. I can send you my ID to keep you secured .I understand that this is your first time you doing business with my company but that is our policies.. FEE IS TO BE PAID UPFRONT .We 100% ready to get your loan deal funded .. J. That is not going to work. I do not send prepayments as you requested. Any legitimate lender can wait to closing and be paid by the title company. Otherwise there is no way to know you are able a to wire funds. I will need to verify your company.So if you willing to proceed with business with us then you can proceed with the payment and get back to me so your contract document can be send over to you .. Thanks J. What State is your company registered in? What is the last property you funded? Can the fee be paid by credit card?Florida and you can create an online money gram or western union account I can send you my ID before proceeding with any payment .. J. Yes please. But can you send proof of your last loan? An address I can find your company recorded on a Deed?Our latest funded deal was 250k for Business loan.. Below is my ID  (pic on next txt omitted here)J. Photo is not clear enough to read. Could you try a phone photo instead of using a scan? (FL driver license with face similar to the BP profile of Clyde Lewis)J. What is the company's full name and what is the name and address of the  business you funded 250k(Went to FL Sec. Of State to search Clyde Lewis in company names and agent/officer lists, nothing matched.)J. I can't find your business on FL govt website. What is your company named?Clyde Lewis loans.. We are currently working on our websites and its will be up soon.. That why my ID was send to youSir you have noting to worry about.. We are giving you a 100% that we can much ready to close up your loan deal..J. I can't read your id. Please send a photo or a better copy.(msg and email of Florida dl front. bad scan.)J. What is the company's full name and what is the name and address of the  business you funded 250k, I can't find your business on FL govt website. What is your company named?Clyde Lewis loans.. We are currently working on our websites and its will be up soon.. That why my ID was send to you.Sir you have noting to worry about..We are giving you a 100% that we can much ready to close up your loan deal..J .I can't read your id. Please send a photo or a better copy.OK.. I send to your email shortly(emailed the Florida dl front. Good scan. Poor guy.)J. If I can be sure you can provide funds as you say there is an opportunity to profit is both on a series of deals. Closing this first one ought to be worth waiting a day. Its not like you have to pay for an appraisal, my numbers sent you are based on a new appraisal. Sir in business all we need is trust so that its can move forward to the next level. I want to get this deal closed up because I know we have more other deals in future..  My ID as been sent to your email .. J. It is much better.OK.. I wait to hear from you asap so we can start working on your contract document .. J. Are you the lender or a broker?I am the direct lender.. J. Ok good. And what was the name of that company you lended 250k to?

J. How will the loan payments be serviced. Are you going to sell the note? or be there for the whole time of the loan?Sir its seem you are having so much trust issue.. The truth about this is you just need to decide if you want to do business with our company..I really want us to proceed with this deal..J. I can find no confirmation of your company existing. The high fee up front is causing the trust issue. You know this is not normal.  I'll offer you this compromise, take $100 for the fee this time and I'll pay $550 on the second loan. Otherwise, without any way to prove your funds or experience, we are stuck.OK.. Sir I will put up $100 from my personal funds and once you have been funded you will refund my $ back OK ??I want us to do this first deals because of future terms and you sound like a very nice and  business minded and I like that my friend .. J. You don't have to trust me to pay you back for your nice offer, put your fee in the loan contract and the Title Company will make sure your funds are wired to you on closing day. My contract has to close by Jan 12.  It is much better for you to wait for the closing set for Jan 10 for your whole fee than for me to pay for a loan that never arrives. Any valid lender wouldn't pass up 20k in interest for a couple hundred in advance. On a second loan we will have a relationship.I fee is your to prepare all paper work that why its needed upfront. So if you willing to proceed you can.. I can't put my self (SCAM) to low to drag my name to the mud .. J. I didn't understand that. Maybe retype?I said you can proceed with the payment and I will complete the remain $$ so we can move on with business.. I want you to be rest assured that your deal will be closed up..J. So you want me to pay $150 I could try that. But I still want to look at that other loan you made. I said I will put up the $100 and you can pay $250.. J. Oh, I see.(no more that day, next morning.)

How are you doing ??Hello good day SirJ. So you want me to pay $250 I could try that. But I still want to look at that other loans you made. Sir I am trying my best here so we can move on with business.. If you can't trust me then there noting I can do about this deal..J. As we say, trust but verify.I have send you my ID . I can't just give out my client details to you without there permission.. Sir if you want this deal to move on then proceed with the payment and get back to me so we can start working on your contract document .. J. If you were the person on that id you would know this is simple public record information. You would be proud to show these references. Also you would be able to speak and write proper English. Reply with anything less than the simple things I've asked for if you want to provoke me, sir.(Nothing else that day. The next day)

Hello sir Are you still moving on with the loan ??J. Sure. Just send proof that you ever had funds and ever made a loan and your real identity and get paid your fee after closing. Its just that simple.Sir I have an investor in hands now that can get your deal funded in outside USA.. Its a lesser fee..I really want us to proceed with this deal..Just try and give us a change.. J. What you want is some fool to pay your fee. This is not a fool OK.. J. What is your first language? Because that reply made no sense in English.I don't you I am not from USA.. i MOVED HERE FOR BUSINESS.. Tell me how much do you have now for this deal.. J. Ill refer you to my business mentor. If he trusts you he will pay your fee and start the deal. His number is (FBI Fraud Tip Line number you'll have to look up yourself). Be sure to tell him your address.I told deal straight with my client .. If you don't want proceed then I will CANCEL this dealJ. I'm not authorized, call my partners number, he will deal with you today.You said business mentor and now partner .. The deal will be cancel you not willing to proceed J. Well, I gave you a chance, you didn't call him. So I was right. Never was a deal, go ahead and cancel your nothing.OK sir .

I want to post the emails and numbers to warn other BP but I'm not allowed, So I'll ask them, but you can ask me.

Mindy Jensen · Answer

@Jay Statzer , Just because someone is on this site does not make him legit. I wish we had the resources to vet everyone who wants to call themselves a lender, but we do not.

There isn't a legitmate lender on the planet that wants you to send money via Western Union or Moneygram. Yes, those companies are legitimate, but no legitimate lender uses them.

Upfront fees are a huge red flag. Upfront fees via Western Union are a dead giveaway.

Any experience Clyde Lewis Loan FIrm??

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