Upfront costs for private money

[Tanya Knickerbocker]

I have an offer on the table for a private money loan of $310k to finance the purchase of two properties. The lender wants half of the fees up front ($6k) as a wire transfer. Is that normal? I've never done private money before. It's not that I object to paying the $6k, it's that if i do a wire transfer, there is no real guarantee that I get funded. after that, everything goes through an escrow company so I feel fine with that. Is this ok or should I worry?

[Tom S.]

@Tanya Knickerbocker  Always a red flag if they want upfront fees, especially wired.  Also a flag for an individual to lend money for 30 years.