All Forum Posts by: Frank Y.

By looking at the terms, do you really think that is NOT a scam??? Run away as fast as you can!

Have you paid any other fees other than the appraisal? Look for your local PML see if any can cone up that quick. Good luck.

$3,500 is way too much. Run away!

Yulanda McAllister Hello, I am a private lender in Philadelphia area. You would need know the deal you are funding. Have a attorney to draft loan documents for you, not recommend using borrower’s documents. Make sure you are in first position lien. You can message should you need any additional help. Good luck!

Sorry to hear so many people got scammed. Some suggestions: 1) if their offer is too good to be true, then it probably is; 2) never pay upfront money; 3) go to your local meet ups and talk with your local private lender. 4) if you decide to do business with someone you never meet in person, please do a thorough duel diligence. Good luck.

The return is about 15-16% which is not bad. Recommend you have all legal document in place, such as mortgage and promissory note.

You have maximized your limit and now you need to sell the duplicate and rebuild your credit. Good luck.

Are you lending your own money or are you a broker between borrowers and private lenders?

Go to your local REI meeting ups and find PML there. Start to build relationships with PML before you even find the deals.

Never pay any upfront fee other than credit check and appraisal. Don't get fooled by their super lower rate, because they never will deliver.