See below this is how a fake private lender approachs and interac

See below this is how a fake private lender approachs and interac

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

I wanted to show an interaction that with a FAUX lender.. He sent me a PM on BP.. but it could easily be linkdin or facebook or Craigslist or connected investor.

this is classic interaction with these guys..

the website site is hacked I talked to the real owners of the company in Nashville and alerted them that their website is hacked.

but I love the hey let me send you my ID..

Be careful out there. !!!

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Jay Hinrichs Sent 3 days ago

  • what kind of products do you have ?? rates and terms thanks

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we do all type of loan ranging from real estate to business and personal loan and we give out at 5% intereste rate sir

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Jay Hinrichs Sent 3 days ago

cool what do i have to do to get started.. this sounds awesome

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how do i text you or shoot you messages

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for more information and how to get started

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Jay Hinrichs Sent 3 days ago

just use this site it works great.. what is your website and or company name ?

Pro

Jay Hinrichs Sent 3 days ago

I have a few deals teed up and need funding.. how fast can you fund.

one i need 75k and its a 120k property the other i need 92k and its a 155k prop

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nice deal i can fund before the next seven days if we start the process right away sir

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Jay Hinrichs Sent 3 days ago

ok whats your website or how do i fill out an application.. how do we get started.. I dont care for text messaging .. we cant do a loan over text.. whats next ?

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Aiusallc.com

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you can fill the application online there by applying sir

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Jay Hinrichs Sent 3 days ago

your website does not show who the owners of the company are its just generic.

what is your NMLS registration number.. ?? cant be too careful these days.

is there any application fee ?

Pro

Jay Hinrichs Sent 3 days ago

your fix and flip minimum is 150k according to your site i only need 75k on one and 90 ish on the other one.

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sorry for the delay of my reply, yes for the loan amount we can go below up to $75k since you are dealing with us for the first time, maybe i should send you my company entity number so you take a look on our legitimacy what about that?

Pro

Jay Hinrichs Sent 3 days ago

yes please do . that would be a big help thanks.

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send me your mail so i send it over there sir

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still waiying for your reply sir

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Jay Hinrichs Sent 3 days ago

you can send it here.. i do not want to give out my e mail until i see your license number etc. cant be too careful these days as you know.

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okay will forward it here together with the certificate of cooperation okay where the entity number was written sir

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here is our entity number kindly review document of cooperation together with the entity

Entity.pdf
53.6 kB PDF Document
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Jay Hinrichs Sent 2 days ago

thats good were is your lender license and who owns the company there is no bios on the website who are we dealing with ?? thats important of course.

I filled out the app by the way. whats next ?

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the company is not owned by an individual both set of investors coming together to achieve a goal, certificate of cooperation is more as a license sir, when i get your application form information i will immidiately forward you the terms and condition for the loan

Pro

Jay Hinrichs Sent 2 days ago

I filled it out and sent it in.. so there are no owners ?? how does that work.

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there is a CEO to the company and am the CFO of the company

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Check on your application form, you want $75000 for 1 year, but you didn't fill the application form very well no email no phone number why you still skeptical about me and my company maybe i can send you a copy of my ID so that will give you more confident and you know who you are dealling with dircetly

Pro

Jay Hinrichs Sent 2 days ago

yes that would work thank you

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will do that soon in the next few hours

Pro

Jay Hinrichs Sent 2 days ago

OK i am going to go work out


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Most Popular Reply

Rental Property Investor · Maryville, TN · Member since 2018 · 80 posts · 53 votes
7y

"we can go below up to $75k" one of my favorite parts of reading this.

See this reply in the discussion

54 Replies

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

    @Joe Splitrock Correct.  I mentioned the Dakotas because of population.  I really cannot originate a commercial mortgage in a town of less than 25k people or within 25 miles of a town with 100k people. In these types of towns, a local bank's commercial department might be the best bet.  Detroit/Chicago/Flint because of local economics.  I should have distinguished. 

    I'm not an expert as to why this is the case but many lenders list the same small list of states on the list where they don't lend.  Most common you'll find ND, SD, TN, UT and VT.  I believe TN is considered a "brick and mortar" state meaning you'll need a physical presence in that state to lend there.  I'd like to learn more about why these states get blacklisted by national wholesale lenders but I'm assuming its just a bunch of red tape that makes it tough to do business.  

    @Jay Hinrichs I think table funding is very interesting.  Not something I've done myself though.  Maybe someday.  Perhaps I'll reach out for some advice when I reach that cross road.   

    Alex part of the reason is the lenders don't want to go to the effort of getting state licensed for such small markets. they will do it for larger markets like Oregon CA etc.. just look at Lendinghome.coms market and their licensure..  

  • Developer · Cincinnati, OH · Member since 2018 · 1k+ posts · 3k+ votes
    7y
    Originally posted by @Jay Hinrichs:

    I wanted to show an interaction that with a FAUX lender.. He sent me a PM on BP.. but it could easily be linkdin or facebook or Craigslist or connected investor.

    this is classic interaction with these guys..

    the website site is hacked I talked to the real owners of the company in Nashville and alerted them that their website is hacked.

    but I love the hey let me send you my ID..

    Be careful out there. !!!

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    I am also do funding for commercial and private property

    Pro

    Jay Hinrichs Sent 3 days ago

    • what kind of products do you have ?? rates and terms thanks

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    we do all type of loan ranging from real estate to business and personal loan and we give out at 5% intereste rate sir

    Pro

    Jay Hinrichs Sent 3 days ago

    cool what do i have to do to get started.. this sounds awesome

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    how do i text you or shoot you messages

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    for more information and how to get started

    Pro

    Jay Hinrichs Sent 3 days ago

    just use this site it works great.. what is your website and or company name ?

    Pro

    Jay Hinrichs Sent 3 days ago

    I have a few deals teed up and need funding.. how fast can you fund.

    one i need 75k and its a 120k property the other i need 92k and its a 155k prop

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    nice deal i can fund before the next seven days if we start the process right away sir

    Pro

    Jay Hinrichs Sent 3 days ago

    ok whats your website or how do i fill out an application.. how do we get started.. I dont care for text messaging .. we cant do a loan over text.. whats next ?

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    Aiusallc.com

    Account Closed Sent 3 days ago

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    you can fill the application online there by applying sir

    Pro

    Jay Hinrichs Sent 3 days ago

    your website does not show who the owners of the company are its just generic.

    what is your NMLS registration number.. ?? cant be too careful these days.

    is there any application fee ?

    Pro

    Jay Hinrichs Sent 3 days ago

    your fix and flip minimum is 150k according to your site i only need 75k on one and 90 ish on the other one.

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    sorry for the delay of my reply, yes for the loan amount we can go below up to $75k since you are dealing with us for the first time, maybe i should send you my company entity number so you take a look on our legitimacy what about that?

    Pro

    Jay Hinrichs Sent 3 days ago

    yes please do . that would be a big help thanks.

    Account Closed Sent 3 days ago

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    send me your mail so i send it over there sir

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    still waiying for your reply sir

    Pro

    Jay Hinrichs Sent 3 days ago

    you can send it here.. i do not want to give out my e mail until i see your license number etc. cant be too careful these days as you know.

    Account Closed Sent 3 days ago

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    okay will forward it here together with the certificate of cooperation okay where the entity number was written sir

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    here is our entity number kindly review document of cooperation together with the entity

    Entity.pdf
    53.6 kB PDF Document
    user profile avatar Pro

    Jay Hinrichs Sent 2 days ago

    thats good were is your lender license and who owns the company there is no bios on the website who are we dealing with ?? thats important of course.

    I filled out the app by the way. whats next ?

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    the company is not owned by an individual both set of investors coming together to achieve a goal, certificate of cooperation is more as a license sir, when i get your application form information i will immidiately forward you the terms and condition for the loan

    Pro

    Jay Hinrichs Sent 2 days ago

    I filled it out and sent it in.. so there are no owners ?? how does that work.

    Account Closed Sent 2 days ago

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    there is a CEO to the company and am the CFO of the company

    Account Closed Sent 2 days ago

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    Check on your application form, you want $75000 for 1 year, but you didn't fill the application form very well no email no phone number why you still skeptical about me and my company maybe i can send you a copy of my ID so that will give you more confident and you know who you are dealling with dircetly

    Pro

    Jay Hinrichs Sent 2 days ago

    yes that would work thank you

    Account Closed Sent 2 days ago

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    will do that soon in the next few hours

    Pro

    Jay Hinrichs Sent 2 days ago

    OK i am going to go work out

     Thanks for sharing this Jay.

  • Attorney · Northbrook, IL · Member since 2017 · 719 posts · 549 votes
    7y

    @Jay Hinrichs Anyone that claims to provide hard money lending at 5% is a scammer in my book until I'm proven otherwise.

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

    @Jay Hinrichs Anyone that claims to provide hard money lending at 5% is a scammer in my book until I'm proven otherwise.

    That's the first clue..  some times beginners like said just look at owner occ rates and think that is normal for any and all lending.

    so if you have never gotten a HML and you see that advertised your like Yahtzee I just scored :)

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

    I wanted to show an interaction that with a FAUX lender.. He sent me a PM on BP.. but it could easily be linkdin or facebook or Craigslist or connected investor.

    this is classic interaction with these guys..

    the website site is hacked I talked to the real owners of the company in Nashville and alerted them that their website is hacked.

    but I love the hey let me send you my ID..

    Be careful out there. !!!

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    I am also do funding for commercial and private property

    Pro

    Jay Hinrichs Sent 3 days ago

    • what kind of products do you have ?? rates and terms thanks

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    we do all type of loan ranging from real estate to business and personal loan and we give out at 5% intereste rate sir

    Pro

    Jay Hinrichs Sent 3 days ago

    cool what do i have to do to get started.. this sounds awesome

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    how do i text you or shoot you messages

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    for more information and how to get started

    Pro

    Jay Hinrichs Sent 3 days ago

    just use this site it works great.. what is your website and or company name ?

    Pro

    Jay Hinrichs Sent 3 days ago

    I have a few deals teed up and need funding.. how fast can you fund.

    one i need 75k and its a 120k property the other i need 92k and its a 155k prop

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    nice deal i can fund before the next seven days if we start the process right away sir

    Pro

    Jay Hinrichs Sent 3 days ago

    ok whats your website or how do i fill out an application.. how do we get started.. I dont care for text messaging .. we cant do a loan over text.. whats next ?

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    Aiusallc.com

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    you can fill the application online there by applying sir

    Pro

    Jay Hinrichs Sent 3 days ago

    your website does not show who the owners of the company are its just generic.

    what is your NMLS registration number.. ?? cant be too careful these days.

    is there any application fee ?

    Pro

    Jay Hinrichs Sent 3 days ago

    your fix and flip minimum is 150k according to your site i only need 75k on one and 90 ish on the other one.

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    sorry for the delay of my reply, yes for the loan amount we can go below up to $75k since you are dealing with us for the first time, maybe i should send you my company entity number so you take a look on our legitimacy what about that?

    Pro

    Jay Hinrichs Sent 3 days ago

    yes please do . that would be a big help thanks.

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    send me your mail so i send it over there sir

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    still waiying for your reply sir

    Pro

    Jay Hinrichs Sent 3 days ago

    you can send it here.. i do not want to give out my e mail until i see your license number etc. cant be too careful these days as you know.

    Account Closed Sent 3 days ago

    Report SpamBlock Account

    okay will forward it here together with the certificate of cooperation okay where the entity number was written sir

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    here is our entity number kindly review document of cooperation together with the entity

    Entity.pdf
    53.6 kB PDF Document
    user profile avatar Pro

    Jay Hinrichs Sent 2 days ago

    thats good were is your lender license and who owns the company there is no bios on the website who are we dealing with ?? thats important of course.

    I filled out the app by the way. whats next ?

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    the company is not owned by an individual both set of investors coming together to achieve a goal, certificate of cooperation is more as a license sir, when i get your application form information i will immidiately forward you the terms and condition for the loan

    Pro

    Jay Hinrichs Sent 2 days ago

    I filled it out and sent it in.. so there are no owners ?? how does that work.

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    there is a CEO to the company and am the CFO of the company

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    Check on your application form, you want $75000 for 1 year, but you didn't fill the application form very well no email no phone number why you still skeptical about me and my company maybe i can send you a copy of my ID so that will give you more confident and you know who you are dealling with dircetly

    Pro

    Jay Hinrichs Sent 2 days ago

    yes that would work thank you

    Account Closed Sent 2 days ago

    Report SpamBlock Account

    will do that soon in the next few hours

    Pro

    Jay Hinrichs Sent 2 days ago

    OK i am going to go work out

     Thanks for sharing this Jay.

    Certainly thanks for commenting.. this business is hard enough when you do things right .. then to have crooks just flat steal your money through Fraud. 

  • Rental Property Investor · CA · Member since 2018 · 225 posts · 180 votes
    7y

    @Jay Hinrichs Thanks for posting this interaction Jay.

    I think some of the signs were refusal of actual ownership, poor grammar, etc, and while that seems obvious as a red flag, these guys still get people. If they didn’t rip people off this way they wouldn’t do it, so we can say it is working.

    Be careful out there folks.

  • Honolulu, HI · Member since 2017 · 247 posts · 315 votes
    7y
    Originally posted by @Joe Splitrock:
    Originally posted by @Jay Hinrichs:
    Originally posted by @Eric L.:

    @Jay Hinrichs

    The bad grammar doesn't help, but who knows these days.

    I did fall into an up front money trap myself which was recommended here on BP. I say trap, but it probably wasnt. I just didn't realize the terms weren't going to work with anything I was doing.

    Solid post. It's a struggle looking for private investors, trust is a big issue! I've stuck with banks so far but with 4 loans now, I might be forced elsewhere soon.

    Bottom line private lenders are just that people you meet in person.. they do not advertise. ( Rare exceptions) and if they do then they are HML there has been a shift with some HML to say they are private to give the borrower an illusion of cheaper rates.. Keep in mind that anyone can pay to advertise on any of these sites.. no one should get a pass just because they are on BP.. or have a lot of posts etc. myself included.. There was a guy on this site named Wendell De Guzman who was a complete fraud.. but he posted a ton and lots of people followed him you had Handy Andy down in ATL.. some Bp folks got in a mess with him.. so on and so forth.

     Even some podcast guests have been accused of taking advantage of investors. People need to understand that neither BP or really no website is vetting people. 

    You have to do your own due diligence in all aspects of business. I had a friend recommend a local investment that turned out to be a total scam. It was an organic fish farm - sounds boring and hardly what you would expect from a scam. The people running the scam had a nice office and smooth pitch. They targeted dentists and doctors, then used that as credibility for getting other investors. Saying "Doctor XYZ invested" as a way to lend credibility. Ultimately it turned out the two founders were a total fraud. They had lied about relationships and even their college credentials was a lie. They had not paid rent on the office space for months. If any of the investors had just made a couple phone calls, they would have been caught earlier. All they had in the end was a fancy PowerPoint and a high rent office down town.

    Funny thing about targeting dentists and doctors (watch the movie Boiler Room) is that you have smart people, who are usually not financially smart, but have big egos. The scammer uses their intelligence and pride to talk them into things. They play off the ego by saying things like, "well you understand how these things work". So instead of the doctor or dentist saying, "no, I have no idea, please explain" they will usually just agree. This leaves high income professionals as a major "mark" for scammers.

    Me personally, I am never ashamed to admit when I don't understand. I am the annoying guy in the audience that has ten questions at the end of the presentation. Every time people walk up to me afterwords and say, "I am glad you asked those questions, I didn't understand it either".

     dentites are well known for being lousy investors...

  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Steve K.:
    Originally posted by @Joe Splitrock:
    Originally posted by @Jay Hinrichs:
    Originally posted by @Eric L.:

    @Jay Hinrichs

    The bad grammar doesn't help, but who knows these days.

    I did fall into an up front money trap myself which was recommended here on BP. I say trap, but it probably wasnt. I just didn't realize the terms weren't going to work with anything I was doing.

    Solid post. It's a struggle looking for private investors, trust is a big issue! I've stuck with banks so far but with 4 loans now, I might be forced elsewhere soon.

    Bottom line private lenders are just that people you meet in person.. they do not advertise. ( Rare exceptions) and if they do then they are HML there has been a shift with some HML to say they are private to give the borrower an illusion of cheaper rates.. Keep in mind that anyone can pay to advertise on any of these sites.. no one should get a pass just because they are on BP.. or have a lot of posts etc. myself included.. There was a guy on this site named Wendell De Guzman who was a complete fraud.. but he posted a ton and lots of people followed him you had Handy Andy down in ATL.. some Bp folks got in a mess with him.. so on and so forth.

     Even some podcast guests have been accused of taking advantage of investors. People need to understand that neither BP or really no website is vetting people. 

    You have to do your own due diligence in all aspects of business. I had a friend recommend a local investment that turned out to be a total scam. It was an organic fish farm - sounds boring and hardly what you would expect from a scam. The people running the scam had a nice office and smooth pitch. They targeted dentists and doctors, then used that as credibility for getting other investors. Saying "Doctor XYZ invested" as a way to lend credibility. Ultimately it turned out the two founders were a total fraud. They had lied about relationships and even their college credentials was a lie. They had not paid rent on the office space for months. If any of the investors had just made a couple phone calls, they would have been caught earlier. All they had in the end was a fancy PowerPoint and a high rent office down town.

    Funny thing about targeting dentists and doctors (watch the movie Boiler Room) is that you have smart people, who are usually not financially smart, but have big egos. The scammer uses their intelligence and pride to talk them into things. They play off the ego by saying things like, "well you understand how these things work". So instead of the doctor or dentist saying, "no, I have no idea, please explain" they will usually just agree. This leaves high income professionals as a major "mark" for scammers.

    Me personally, I am never ashamed to admit when I don't understand. I am the annoying guy in the audience that has ten questions at the end of the presentation. Every time people walk up to me afterwords and say, "I am glad you asked those questions, I didn't understand it either".. 

     dentites are well known for being lousy investors...

    Steve as long as they are not Anti Dentites  although frankly most of the medical dental professionals I deal are pretty darn sharp.. 

    although there was in the day when Doctors got ragged on pretty hard as private pilots.. forgetting to put the gear down seemed to be a favorite.. but In my airplane community there are many doctors and dentist and they totally dispel the myth .. which this is all a big myth.

  • South Bend, IN · Member since 2014 · 318 posts · 156 votes
    7y

    @Joe Splitrock @Jay Hinrichs

    I once worked with a Neuro-Surgeon who had the humility to pry and ask questions on investment proposals when he did not understand that almost bordered on being annoying because sometimes it was almost like arrrgh....."I can't believe I have to explain this". Respect!

  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Steve K.:
    Originally posted by @Joe Splitrock:
    Originally posted by @Jay Hinrichs:
    Originally posted by @Eric L.:

    @Jay Hinrichs

    The bad grammar doesn't help, but who knows these days.

    I did fall into an up front money trap myself which was recommended here on BP. I say trap, but it probably wasnt. I just didn't realize the terms weren't going to work with anything I was doing.

    Solid post. It's a struggle looking for private investors, trust is a big issue! I've stuck with banks so far but with 4 loans now, I might be forced elsewhere soon.

    Bottom line private lenders are just that people you meet in person.. they do not advertise. ( Rare exceptions) and if they do then they are HML there has been a shift with some HML to say they are private to give the borrower an illusion of cheaper rates.. Keep in mind that anyone can pay to advertise on any of these sites.. no one should get a pass just because they are on BP.. or have a lot of posts etc. myself included.. There was a guy on this site named Wendell De Guzman who was a complete fraud.. but he posted a ton and lots of people followed him you had Handy Andy down in ATL.. some Bp folks got in a mess with him.. so on and so forth.

     Even some podcast guests have been accused of taking advantage of investors. People need to understand that neither BP or really no website is vetting people. 

    You have to do your own due diligence in all aspects of business. I had a friend recommend a local investment that turned out to be a total scam. It was an organic fish farm - sounds boring and hardly what you would expect from a scam. The people running the scam had a nice office and smooth pitch. They targeted dentists and doctors, then used that as credibility for getting other investors. Saying "Doctor XYZ invested" as a way to lend credibility. Ultimately it turned out the two founders were a total fraud. They had lied about relationships and even their college credentials was a lie. They had not paid rent on the office space for months. If any of the investors had just made a couple phone calls, they would have been caught earlier. All they had in the end was a fancy PowerPoint and a high rent office down town.

    Funny thing about targeting dentists and doctors (watch the movie Boiler Room) is that you have smart people, who are usually not financially smart, but have big egos. The scammer uses their intelligence and pride to talk them into things. They play off the ego by saying things like, "well you understand how these things work". So instead of the doctor or dentist saying, "no, I have no idea, please explain" they will usually just agree. This leaves high income professionals as a major "mark" for scammers.

    Me personally, I am never ashamed to admit when I don't understand. I am the annoying guy in the audience that has ten questions at the end of the presentation. Every time people walk up to me afterwords and say, "I am glad you asked those questions, I didn't understand it either".. 

     dentites are well known for being lousy investors...

    Steve as long as they are not Anti Dentites  although frankly most of the medical dental professionals I deal are pretty darn sharp.. 

    although there was in the day when Doctors got ragged on pretty hard as private pilots.. forgetting to put the gear down seemed to be a favorite.. but In my airplane community there are many doctors and dentist and they totally dispel the

  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    that reminds me of a my friend  at my old club.. he was is a neurosurgeon .. and Watching him putt was painful

    he had the yips..  Southern Gentlemen from New Orleans.  But at the end of the day I had a ton of respect for him he was a Green Beret.

    so out of respect anything with in 12 inchs was a gimme 

  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    7y

    Yeah my time is worth a lot these days.

    If people want to be a secret commercial buyer they go in the trash bin.

    You can tell just by the communication there is not any sophistication.

    I HAVE TO see they are credible before I spend any considerable time with them. That requires they send me a personal financial statement. I am automating my new website now. Should be up by end of March. It has steps to through. The steps are not followed then you do not get to proceed.

    My business. My terms. If we are not a fit the funnel forms qualify that without me spending precious time on them.

    Lot's of flakes out there whether buyers, people wanting a loan, sellers,etc.  You have to put them through a process to know who is easy and credible to deal with and who is just a royal pain or will not do anything anyways.    

  • Loveland, CO · Member since 2014 · 30 posts · 5 votes
    7y

    @Jay Hinrichs

    Thank you for sharing. I would have seen this as a scam even being a new investor. But to know they are on this site is great information. It inevitably going to happen as any site get bigger but still great that you shared. Thanks.

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

    @Jay Hinrichs

    Thank you for sharing. I would have seen this as a scam even being a new investor. But to know they are on this site is great information. It inevitably going to happen as any site get bigger but still great that you shared. Thanks.

    if you were a lending scammer like this.. where would you target people. ???   BP is a prime spot.. everyone is focused on real estate .

    lots of beginners.. etc etc.. but linkdin craigs list facebook are all targets for these bad actors. 

  • San Franciso, CA · Member since 2014 · 20 posts · 6 votes
    7y

    @Jay Hinrichs

    Thank You for sharing because there people

    out there looking for sucker's. You do definitely got to be careful.

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

    @Jay Hinrichs

    Thank You for sharing because there people

    out there looking for sucker's. You do definitely got to be careful.

    yes sir.. internet is a great thing but man how it has opened the door to scammers and fraudsters. 

  • Dale MillerPro Member
    Investor · Atwater, OH · Member since 2017 · 50 posts · 23 votes
    7y
    Thanks for sharing this @Jay Hinrichs .
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Dale Miller:
    Thanks for sharing this @Jay Hinrichs .

    Certainly I think we in the real estate community have a duty to help others and especially as it relates to BP which many many members are just beginning their real estate journey so we dont want them being ripped off before they even get out of the gate.

    And there is more to it then these scammers just boofing money from people.. many times investors have put up non refundable EM ( they lose that).. and their time and energy.. plus they miss the deal.. since they will not be able to close.

  • Ivy SanmiguelPro Member
    Real Estate Agent · Miami, FL · Member since 2017 · 52 posts · 18 votes
    7y

    Thank you @Jay Hinrichs for sharing this. It's a shame that - especially as new investors - we all have to be exposed to these attempts of scams. 

    It also makes it harder to trust good people that want to actually form honest and positive business relationships. Sometimes they seem to good to be true. 

    I still believe that in their core every successful investor is a good person who wants the best for their closest ones, help people, and give back to others passing on their expertise in some sort of way.

  • Real Estate Agent · Renton, WA · Member since 2017 · 204 posts · 151 votes
    7y

    @Jay Hinrichs Thanks for posting, it’s amazing how these people go to bed at night knowing how they scam people. That’s why it’s so important season or new investor to do a some leg work with vetting the people we do business with. As long as we do the best on our part at least we didn’t go in blindly as sometimes even the people we think we know can do a number on us.

  • Flipper/Rehabber · Louisville, KY · Member since 2008 · 1k+ posts · 1k+ votes
    7y

    I appreciate your shedding a light on this. Reminded me of all the fake borrowers I used to get as a Private lender.

    Is a Certificate of Cooperation a thing??

    What was the basic scam, were they trying to collect a fee or get you personal details?

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

    I appreciate your shedding a light on this. Reminded me of all the fake borrowers I used to get as a Private lender.

    Is a Certificate of Cooperation a thing??

    What was the basic scam, were they trying to collect a fee or get you personal details?

     I ran borrowers through Lexus nexus.  Some interesting characters.  These guys really want up front app fee. Points any of that then go dark :)

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

    I listen to a radio show called Coast To Coast AM where George interviewed an expert on scams an on internet a few years back. He said most of the scammers are not Nigerians but actually mostly corrupt jewish lawyers located in the US posing as Nigerians or other enitites. He also mentioned that FBI constantly moniter these people , what they do is they let them commit crimes for around 6 months so they can gather the evidence then they come in arrest them. I myself raise money for entertainment and various buisness including real estate and after years of experience dealing with scammers I found the best way to be safe from it all is once they ask money upfront , I dump them. It's a simple common sense stragedy. 

     Not touching this one 

  • Flipper/Rehabber · Louisville, KY · Member since 2008 · 1k+ posts · 1k+ votes
    7y

     Smart man!  I googled Coast to Coast Am radio show and their tagline is "Coast to Coast AM Radio: The Latest Paranormal News"

    So yeah, not a place facts are likely held in high regard.  :-)

  • Member since 2018 · 37 posts · 8 votes
    7y

    Ha Ha , I 'm only telling you what the guy said on the radio show , take it with a grain of salt , he's a constant guest on the show  and lot of his advice on internet was pretty good especially how to avoid viruses and cyber attacks on the internet the correct way.

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