Is Private Lender Legit?

Question

Has anyone here worked with a private lender in Atlanta, GA called Atlanta Lending LLC? I was referred to by them by a member of a Facebook group. They are offering 3.5% on a 30 year loan for a duplex with 5% down. They have not asked for any upfront payments and have agreed that all funds will be transferred directly to my title company. Is kind of too good to be true for me and I want to make sure they are legit because I have another local private lender offering 5.25% interest with 20% down.

Penny Brown · Answer

If the company is Atlanta Private Lending LLC, James Melton...it's legit.  I have seen his work over the years and its the real deal.  I would recommend that you get pre-approved and ask for a TERM SHEET that specifies all of the financial estimates.  I'll review it with you if you like and answer any questions...hope this helps!

Frank Agyeman-Duah · Answer

@Brenden Mitchum Thanks a lot.

Frank Agyeman-Duah · Answer

@Penny Brown

Thanks for your input Penny. This guy is called Dwight Smith and his company’s name is Atlanta Home Lending. Please inbox me if you have any hard money lender recommendations. Thanks

Nadia Romero · Answer

Have any of you worked with David Putt?  A private money lender from California?

Brenden Mitchum · Answer

Hey @Frank Agyeman-Duah

Are you sure they're a private, non-institutional lender? Sounds close enough to institutional debt that they could just be giving you an FHA loan.. Will you be living in the property? If not, then it isn't institutional and definitely sounds too good to be true. Unfortunately, "a member of a Facebook group" is not a legitimate referral source either. Hopefully someone on here has worked with them but you might want to pass on this one if you can't get any further evidence for their legitimacy..

Keep digging and let us know what you come up with!

Feel free to reach out anytime if you have other questions or just want to chat.

Lien Vuong · Answer

If its too good to be true ...

Frank Agyeman-Duah · Answer

@Jay Hinrichs Thanks for your input.

Is Private Lender Legit?

Most Popular Reply