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Updated almost 7 years ago on . Most recent reply

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Nicole Heasley Beitenman#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
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Is this lender legitimate? Something seems off

Nicole Heasley Beitenman#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
Posted

Hi BP!

I'm looking for a hard money lender for a 6-unit apartment complex. My agent gave me the name of a lender she found on BP, Joshua H. Brown. She warned me that she did not know him and had never worked with him before, so this wasn't necessarily a recommendation, just a potential option to check out. His account is closed on BP. He seems to have VERY little criteria for lending. He answers my questions with very little detail, requiring me to really dig for answers. I asked him if he could somehow verify his legitimacy through references or other means, and he said he could e-mail me some references along with his business license. Is that enough? What else should I ask from him? I'm trying to find other lenders, but I'm having a tough time doing so. 

TIA!

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Jay Hinrichs
#1 All Forums Contributor
  • Real Estate Consultant
  • Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Real Estate Consultant
  • Summerlin, NV
Replied

Lenders DO NOT GIVE OUT REFERRALS of clients that's privileged information.  

keep in mind fake lenders are the new Nigerian prince scam of real estate

there is no private money that is less than about 10% apr.. bottom line.

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JLH Capital Partners

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