BP blog post for new niche loan seems like BS

10 Replies

I saw this post about "Ring in Your New Year With an All NEW Niche Loan for Your Residential Income Properties!" and I am not sure what is going on.

If the product is good and legit, why can't the author name it? Even on the comments he asks people to message him privately. The "new product" might be smoke and mirrors to gather leads, or maybe a loan from a private lender. The message and intent seems a bit off from the moto of BiggerPockets in my opinion. I might have missed something, or some regulation, but the fact he can't explain his product out in the open is a red flag to me.

This is not meant to be an offense to Jeff Trevarthen (@VeritasRE), as I never talked to him, and he is probably a standup guy.

That said, I'd still would like to know what the loan is... :)

http://www.biggerpockets.com/renewsblog/2015/01/01...

I had the same reaction when reading it... *shrugs*

Ignore it.

You'll find many blogs and podcasts that don't seem to meet the BP "motto", the gray area is huge. Your best defense against bad information is a good education of the usual and customary, then you have a base line to judge anything "new". Lots of newish members seem to have agendas in the unconventional.  :)

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com

Bill, I thought the BP Blogs (not the user blogs, but the BP specific ones) were at least screens for content??  Maybe just a bad assumption on my part.

But now going to the page results in "404 ERROR"?

Medium logoAnthony Thompson, Real Home Solutions of Rhode Island | 401‑300‑0093 | https://webuyri.com/

I didn't get there either, everything about loan requirements can be posted, what a lender can't mention is interest rates or payment requirements without disclosing APR and other matters concerning a specific loan. An example may be used disclosing such requirements.

Yes, BP blogs are or may be reviewed before posting. While security guards attempt to keep trouble makers out, they don't have powers of arrest or powers to prosecute an offender or a law degree to determine if a violation of law actually occurred, the security guard may do their best, but you can't expect them to be experts in all areas of the law. The reader has to take responsibility for what path they take.

If something doesn't strike you as legit or compliant, looking past the fluff, puffing and marketing then investigate it or even easier, move on. :) 

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com