Has anyone used Connected Investors private lender Lead service?

Question

Hi, all. I signed up Connected Investors and got calls and email from them saying that they can provide me private money borrowers. They charge $10 for each borrower (they call it Lead) they send to me for the deal under $100k and $35 for deals between $100k to $500k. They don't guarantee the result if you made the deal or not. They also send the same borrower (Lead) to multiple private lenders who are seeking investors to lend to.

Has anybody here had any experience on this?

Thank you.

Frank

Has anybody here had any experience on this?

Thank you.

Frank

Frank Y. · Answer

@ Steve Vaughan Thank you for your response. I agree with you and I also do lending locally where I know the market.  Again, thanks.

Steve Vaughan · Answer

Hi @Frank Yang.  Surprised it's difficult to locate borrowers.

I signed up for CI after hearing the founder on a podcast.  Sounded interesting.  I signed up just as an investor wanting to engage with other investors and the whole thing seemed shady.  Mostly the lenders, but the wholesalers/sellers as well.  Took a couple months to terminate my 'membership' and for the spam e-mails to stop.  I wrote a couple 'you've got to be kidding me' posts, calling them out and they finally let me go.

I am exploring the lending space as well and will deal locally, belly to belly with a market I understand.  Good luck whichever way you decide to go!