To Catch a Real Estate Investment Lending Predator – Part 2


So I was not planning on a sequel, but my last experience with an online scammer was just too damn awesome to not share.  Additionally, in my interaction with him, I was sent to a bogue website that presented some other huge red flags that investors should watch out for.

I have been working to educate investors on the prevalence of scams in the hard money world.  Because examples are often the best method, I went down the rabbit hole so that you do not have to.  So here is a transcript of my conversation with someone who professed to be a lender, but based on the conservation was anything but.

The start point was the same with ridiculous terms seemingly for real estate investment loans. For the sharing of this uncensored transcript, I will refer to ME for my input to the conversation and SCAMMER for theirs.  When appropriate, I have added commentary to identify the red flags.  The only change is that I have redacted the name of the person that the scammer was impersonating as I do not want an innocent person impacted.  As an aside, I also let him know so he could deal with Facebook.

As I said in the first article, whether you are an investor looking for capital or a professional referring lenders to clients, friends or family, you can be the shield wall that ruins a scammers day.  You can and should play a part in avoiding getting scammed, but also in helping others avoid it. My best advice, find a good reputable lender and use them.  Remember, the hard money world is minimally regulated and lacks any licensing requirements.  Going with a reputable lender or one with whom you have an affinity connection can overcome the Don’t allow unsavory “lenders” to rob you or those whose success that you value.
Here are some other resources to help you make the right lender choice.