All Forum Posts by: Matthew Kelm

I didn't give out any banking info, SS# or tax I.D. numbers. The loan app was very generic. 

I was on BiggerPockets FB page and seen a hard money lender posting an offer of loan services. I contacted this person by the email that he provided. He asked for various types of documentation and sent me a loan application. After submitting said various documents and filling out the loan application this person said that they needed 48 hours to review all documents. Within 48 hours he got back with me and said that I was approved for my loan request. Before said loan could be processed he stated there would be a loan origination and processing fee ($1,370.00) which I was required to pay upfront. He then sent a name, routing number, account number and banking institution name. I have never used a hard money lender. Does this sound right? It sounds off to me. Sorry if I seem a little suspicious. 

I'm just getting into real estate investing. I'm pretty excited that I, by chance, made a connection with someone in my local area who is already a seasoned real estate investor. They have 40 properties. This person took the time to answer a few questions that I had and even gave me their number and told me to call if I ever had any other questions. I'm pretty excited about that! Sorry, maybe not a big deal to most, but to me it feels like a step in the right direction. I think everyone needs a mentor. I'm 48 and I hate feeling like a newbie lol. I'm a business owner just trying to make more of my revenue (money) work for me.