Feltes Frankraymond Legit or no?

Feltes Frankraymond Legit or no?

Real Estate Investor · Buckeye, AZ · Member since 2016 · 12 posts · 3 votes

I am currently trying to find out information on a "private lender" names Feltes Frankraymond or Raymond Feltes. I can't seem to find anyone who has ever heard of him let along a reference of someone who has done business with him. So I am asking if any one has ever heard of him or done business with him. I have been reading so much on lender scammers that I am paranoid to talk to anybody that says they are a private lender as I was almost dooped by one. So before I continue any correspondence any further with him, i need any and all information that i can get. The only thing I have as of now regarding contact information is the email address. I found this lender in the Real Estate Investor groups on FB. I also see that he is on Twitter as well. He says that he does all kind of loans, personal or otherwise. He gave me a breakdown of payments for the amount and time frame that I stated that I need. I am now awaiting to see if he will give me a phone number to contact him, the name of the company, network, or firm that he is with and names along with phone numbers or email address of people that he has done business with in the past. And believe it or not, we are actually friends on facebook. I have been reading what other investors has said about how to qualify a lender.  The scariest thing about the whole ordeal is ththe fact that i am new to all of this.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y
Originally posted by @Josh Chan:

Hi Tom, You mean origination fee can be deducted from the loan approval? But not sure Feltes Lending LLC is real or scam?

Told me cannot be include for the fee.

Please take no offense but you folks who believe this are obviously not experienced in the least these are all frauds .. not even worth discussing other than to say if you send them one dime you will never see it again and they NEVER make loans

watch the Remington financial espisode on American Greed to understand advance fee schemes.. or google Ingrid Robinson advance fee schemes.. if you guys and gals don't believe those on BP trying to help U not get ripped off

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  • Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
    9y

    You need to stop wasting your time!!! Go to your local REIA in Phoenix and find a real hard money lender. The real people and/or businesses are sponsors at the local clubs. You can see them, talk with them, they have offices. THEY are legit. Dont waste you time trying to find out if someone is legit, just go to the meetings where you know that they are for real.

  • Real Estate Investor · Buckeye, AZ · Member since 2016 · 12 posts · 3 votes
    9y

    Thank you @Rick Pozos, I think that is my best bet. I joined meetup last night and found a lot of different clubs. I am going to rsvp for them as well. I do thank you for the time you took out of your busy day to answer this question for me. May I send you a connect request? As I am trying to connect with other investors both in Arizona and outside of Arizona. i would like to be able to refer people to you that are looking to buy homes or sell homes as well. 

  • Real Estate Investor · Tampa, FL · Member since 2017 · 31 posts · 10 votes
    9y

    hello LaTonya did you ever get any information from Feltes. References or anything 

  • Real Estate Investor · Buckeye, AZ · Member since 2016 · 12 posts · 3 votes
    9y
    I have talked to a least 2 people now that has said they were scammed by him. He asked for a processing fee of several hundred to 1500 dollars and broke all communication with them once money was recieved. it was all wire transfer but none of them ever spoke with him directly.
  • Real Estate Investor · Tampa, FL · Member since 2017 · 31 posts · 10 votes
    9y

    Wow thank you. He didn't say there was a processing fee at first. But I kept trying to get more information from him. I asked for referrals. He sent me several emails of supposedly past clients. Then  He said you have to send a processing fee. When I said to him you never asked for a fee. He then said. No there isn't no fee. Also saw that he had filed for bankruptcy. Thanks for deed back. I appreciate it. a shame 

  • Member since 2019 · 1 post · 0 votes
    7y

    Did anyone close a deal with him?

  • Member since 2019 · 1 post · 1 vote
    7y

    I've dealt with him all through email.  I tried calling and no answer but I have an entire email conversation with him.  He promised to do a loan for me and we both signed a contract and sent him almost $15k for fees and he tried to get me to pay more money to him and never delivered on the funds.  This guy is an absolute fraud and I will be seeking legal counsel against him.  Avoid this guy at all costs.  He has a silver tounge but the guy is a complete fraud and a douchebag.

  • Member since 2019 · 14 posts · 4 votes
    7y
    Originally posted by Rich text editorRich text editor@Brett Munden:

    I've dealt with him all through email.  I tried calling and no answer but I have 

  • Member since 2019 · 14 posts · 4 votes
    7y
    Originally posted by Rich text editorRich text editorRich text editor@Brett Munden:

    I've dealt with him all through email.  I tried calling and no answer but I have 

  • Member since 2019 · 14 posts · 4 votes
    7y

    Hi do you know this lender claim one of legal lender? 

    Frank Feltes.

    Feltes Lending

    www.feltecslending.com

  • Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
    7y

    @Josh Chan  Looking at that website: grammar errors, no address.  So my take is that it's no good.

    Remember the best lenders are local to you, people you can meet in person.

  • Member since 2019 · 6 posts · 4 votes
    7y

    @Josh Chan I have ...He was good at communicating until he gets the money "supposedly" loan processing and tax then no money loaned to you! Its very recent about 7 weeks ago. I hope you have not sent any money as he is a Scam!

  • Member since 2019 · 2 posts · 0 votes
    7y

    B

    I found this guys on an investor group on facebook 

    I just received  a loan offer from frank feltes...also signed on docusign ...he did tell me yo pay $970 origination fee in order to get the docs order and fund tomorrow. 

  • Member since 2019 · 2 posts · 0 votes
    7y

    I supposed to be sending the money asap! Does anyone knows for sure this is a scam?

  • Member since 2019 · 6 posts · 4 votes
    7y

    I just dealt with this money sucker monster 8 weeks ago.I hope you havent sent money.i am planning on submitting a complaints on Consumer Financial Protection Bureau so people can be warned and he couldnt do anymore of his scam.

  • Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
    7y

    @Sanny Cazares  Never send any money in advance, it's that simple.  Origination fees are typically deducted from the loan proceeds at closing.

  • Member since 2019 · 14 posts · 4 votes
    7y

    Hi Tom, You mean origination fee can be deducted from the loan approval? But not sure Feltes Lending LLC is real or scam?

    Told me cannot be include for the fee.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Josh Chan:

    Hi Tom, You mean origination fee can be deducted from the loan approval? But not sure Feltes Lending LLC is real or scam?

    Told me cannot be include for the fee.

    Please take no offense but you folks who believe this are obviously not experienced in the least these are all frauds .. not even worth discussing other than to say if you send them one dime you will never see it again and they NEVER make loans

    watch the Remington financial espisode on American Greed to understand advance fee schemes.. or google Ingrid Robinson advance fee schemes.. if you guys and gals don't believe those on BP trying to help U not get ripped off

  • Member since 2019 · 14 posts · 4 votes
    7y

    Hi Jay, I do agreed with you. Again Felts Lending claim to me is private lender and the orientation fee is for Orientator to do agreement and for the loan. He given me account of the Orientator I sent. But my bank told me the transfered I done have been refuned because in vaild account.

    When I told him that he insist that account is active. I told him can't be bank is lying on this. Then he ask me can sent by Bitcon or Western Union. I tell him if I cannot sent you money on bank. How I going to do my repayment if I get the loan.

  • Member since 2019 · 6 posts · 4 votes
    7y

    @Josh Chan thats what he told me too! did you send him what he asked for?

  • Member since 2019 · 6 posts · 4 votes
    7y

    @Brett Munden Did you deal with Frank Feltes or Feltes Frankraymond? is this the same person? can we all gather out complaints against this? I first tried the consumer financial bureau but the complaint came back because this company is not in their list.i want to proceed with trying to get him to stop anymore scamming people.

  • Member since 2019 · 6 posts · 4 votes
    7y

    @Josh Chan when did you deal with him?I did around june to july

  • Member since 2019 · 14 posts · 4 votes
    7y

    Honestly I not sure is the same person 

  • Member since 2019 · 6 posts · 4 votes
    7y

    @Josh Chan i was dealing with Frank Feltes.Was this the guy you were dealing with?

  • Member since 2019 · 14 posts · 4 votes
    7y

    Yes frank feltes. Have you get the loan he promising you? Did you sent the fee?

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