I would love to believe it, but I have investigated 2 companies offering something very similar, with low interest rates, 2-5% origination fees, etc. One would even go through escrow, but unfortunately, the escrow office did not pass my test. Ugh.
I even spoke with an investor who I connected with through BiggerPockets because we both happened to find the same suspicious kind and philanthropic, extremely wealthy human who would love to offer lower rates to borrowers who could not get financing elsewhere. And the testimonials from these references is the fantastic ability to repay $2M in less than 6 months. and they would go back and do it again. Hmm, really?
I did find a dead-end for where the borrower's origination fee goes and likely the borrower to never see or know who really received the origination fee, while waiting for the "funding" to take place, which is promised a "few working days" or "24 to 48 hours" or "30 days" on the "promissory note". Yes, I read everything and caught the typos, inconsistencies and stock photos used. Even then, I almost fell prey to a group organized to find unsuspecting targets. How? Somehow, they found contracts used by legitimate people and tried to modify the contracts, some not looking at the form they put together and some sucker would sign in desperation for funding.
I know, we've been there. Times can be desperate, but this is only temporary.
