Auction*com- Anyone had experience

[Sharon R.]

Has anyone had any experience with them for buying houses to flip or rehab and use as rentals? Also has anyone that is just starting out & doesn't have a large sum of own cash had experience w/ privatemoneygoldmine*com for a direct private lender?

[Jeff S.]

Save your money, Sharon R.

Privatemoneygoldmine is nothing more than a list aggregator. They troll the web for anyone they can find associated with private lending and then they sell the list. The neither vet, endorse, research, guarantee, nor offer any legitimacy to the names they sell. It’s a list. You could do as well yourself randomly searching with Google.

Type a few local zip codes into their site and then a few from across the country. Many of the same names appear. Not to get into definitions, but to quote from their site, these are apparently the “nationwide” private money lenders who are “MUCH cheaper than hard money.” Puhleeeze.

Here’s a link to a related BP discussion.