PSA/ Fraud Alert/Inquiry

[Simcha Davidman]

A guy who lists himself as a private money lender on a different platform happened to reach out to connect with me, and on that platform, I do not speak about my real estate investing.

But I thought it was very timely and wanted to have a conversation with him about what he does/requires, because I'm doing research on obtaining a commercial mortgage, or perhaps private money in lieu thereof. So I asked him what his terms are and he said 5% loans from $10k-$500m, up to 35 years. I thought, I need to speak to this guy!

When I called him (he did have an area code which fit where he claimed to be from), he had a pretty thick African accent (now, I know there are a lot of different countries in Africa, but due to my ignorance, I can't intelligently suggest where specifically he may from). In my head, almost immediately, I had this image of the guy sitting on the other end of the phone, also sending out emails to people about the crown prince of Nigeria needing to send someone millions of dollars for safe keeping.

Has anyone had this type of experience? Can anyone verify that this guy may be real? I'm leaving his name out at this point, on the off chance that he's legit, I don't want to be slandering him across the internet.

If not already obvious, please be careful. I'm working under the assumption at this point that if this seems too good to be true, it probably is.

[Wayne Brooks]

Yep, BS.....”5%, $10k to $500m”....that says it all. $500m loans aten’t done by street level jokers and anyone doing $500m loans doesn’t do $10k loans. 

If you play with him long enough, you’ll find out what his “upfront fees” are....the only money he makes/scams you out of.