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Updated over 3 years ago on . Most recent reply

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Randall E Collins
  • Specialist
113
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260
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Are there ANY for real people in this crazy world

Randall E Collins
  • Specialist
Posted

My main focus is wholesale and/or locating off market properties. Most every morning I spend hours online, three to five different web sites, in search of property and/or ways to make a decent cashflow in the real estate business. What I mean in my title, is that I constantly come across several different people who are doing nothing more than trying to scam others. One guy who's advertising on a real estate web site. Turns out he's selling a program on how to trade crypto currency, actually expected me to send him $350.00 to learn how. Because I'm having such a hard go at wholesale, I considered purchasing my own fix and flip or rental property. So I begun a search for private/hard money lenders. Bad idea! Now I'm being bomb barded with emails from every type scammer one can imagine. I mean, give me a flipping break. I feel like a long tailed cat in a room full of rocking chairs. Who can be trusted now a days? I'll add that thus far BP has proven to be legit without all the hype. Thanks guys!

Most Popular Reply

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Jay Hinrichs
Professional Services
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,786
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42,649
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Jay Hinrichs
Professional Services
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
All social media is infected with fake lenders  BP just happens to do a better job of removing them.. Us who are veterans at HML know a fake when we see one right off and so we do report them to the mods and they are quickly banished.

You are going to constantly run into this is your attempting to find lending Love on line like this.

And or clicking on who tells you the best story.

for a reality check to go these few companies websites and see what a real lender looks like

Lendinghome

Limaone

Renovo

Civic

lendingone

And then you can narrow down at least when your looking for money what at least the websites should look like and what states require licenses to lend in.  you will not most have an NMLS unique identifier as required.

Lastly anyone who ask you for up front fee   commitment fee or any other type of fee that is not just a small app fee or 3p appraisal fee your going find out that they are flat out scammers or  brokering and have a very hard time placing a loan for someone who is not pristine financially speaking

Keep in mind wholesaling as we all know has no barrier to entry so those engaged in it run from great people well collateralized to out and out Criminals and everything in between..
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JLH Capital Partners

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