SCAM ALERT- "Private Lender"- Wire Loan Fees First Then I'll Fund

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SCAM ALERT- "Private Lender"- Wire Loan Fees First Then I'll Fund

Logan Hassinger
Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes

There is someone out there using my name (although they are using my last name as their first name and my first name as their last name) to lure other real estate investors in to thinking this person will fund whatever they need funding for.

My name is Logan Hassinger and while I am considered a lender, I'm a note investor.  I do NOT lend to anyone other than the notes I buy.

This individual is going by the name Hassinger Logan (very original if you ask me) and is using my photo to pretend to be me.   This person's sole goal is to get you to wire funds to them as points for the loan (points are just upfront fees for borrowing) and then you will never hear from them again.

I've attached the photo they are using of me for reference. I'm sure they are also going under other alias's as well so be careful out there. The only HML lender you should be contacting are the ones that are well known and have references. Rarely will you ever be charged points up front BEFORE getting the necessary funds you're looking for.

Feel free to reach out if you have additional information on this person.

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Jeff S.
Lender · Los Angeles, CA · Member since 2009 · 1k+ posts · 2k+ votes
6y

Welcome to the club, @Logan Hassinger. We’re having a similar issue.

In our case, someone created a website with our company name and answers the phone using my exact name. I wrote about it here:   Private Lending Direct LLC is a Scam and I own the Company

There are a lot of scammers using fake websites and soliciting borrowers using the identity of real lenders. Since the information for most loans, licenses, and LLC's is in the public records, this is an incredibly easy scam to pull off -- and difficult to combat.

BP has great SEO so posting here will show up high if someone does a search on you. There are some other things you can do but these are best addressed privately.

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  • Sam Martin
    Lender · St. Augustine · Member since 2020 · 14 posts · 12 votes
    6y

    Sorry to hear that man! Lenders should never charge upfront origination points! Be vigilant out there BP!

    1Reply
  • Tom S.
    Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
    6y

    @Logan Hassinger  Thanks for posting and letting us know!

    1Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    No problem and unfortunately I’m happy to share. I’ve been trying to stop this guy for at least 4 months now. It never fails, someone finds the real me and asks if it’s a scam. 

    There’s no telling how many people this person has taken advantage of. I’m just doing my best to put this out there in hopes this post shows up in a BP or google search. 

    At the end of the day people, please don’t send money in return for a loan. That’s just not how private lending or lending in general works. 

    0Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    And a big thank you to @Max Cordova for sending me a message about this person. 

    0Reply
  • Jeff S.
    Lender · Los Angeles, CA · Member since 2009 · 1k+ posts · 2k+ votes
    6y

    Welcome to the club, @Logan Hassinger. We’re having a similar issue.

    In our case, someone created a website with our company name and answers the phone using my exact name. I wrote about it here:   Private Lending Direct LLC is a Scam and I own the Company

    There are a lot of scammers using fake websites and soliciting borrowers using the identity of real lenders. Since the information for most loans, licenses, and LLC's is in the public records, this is an incredibly easy scam to pull off -- and difficult to combat.

    BP has great SEO so posting here will show up high if someone does a search on you. There are some other things you can do but these are best addressed privately.

    2Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Jeff S. It’s sad the amount of time these scammers put in to their “business” and I can’t help but think how successful they would actually be if they spent the same amount of time on a legitimate business venture. 

    There will always be people like this so it is what it is. I’ll send you a PM to discuss further. 

    1Reply
  • Doug Pintarch
    Rental Property Investor · Harrisburg, PA · Member since 2018 · 369 posts · 406 votes
    6y
    Originally posted by @Logan Hassinger:

    @Jeff S. It’s sad the amount of time these scammers put in to their “business” and I can’t help but think how successful they would actually be if they spent the same amount of time on a legitimate business venture. 

    There will always be people like this so it is what it is. I’ll send you a PM to discuss further. 

    Logan I agree.  If these guys spent their creative theft time productively we'd all be living on Saturn and the common cold would be a distant memory.  I'm glad you're on this hard, scary stuff using your picture even.  Hopefully anyone interested in their scam will do some checking and find the real you here!!

    0Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Doug Pintarch that’s exactly what I’m hoping for; people to find this post and to know exactly who they are dealing with, which is not me. 

    I reached out to the scammer yesterday as a would-be borrower, and I couldn’t of been more upset than when this person responded with my name as their email. 

    Very creative with adding a 1 in there and with a text mail account, they will never answer the phone, which is another reason to be cautious with someone who can only communicate through email.  


    1Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    Update :


    The scammer just responded to my texts about him “funding” one of my deals. Found out it was me and wasn’t very happy lol. 

    1Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 438 votes
    6y

    @Logan Hassinger Wow, this really stinks. I'm sure you don't have anything else you'd rather be doing with your time. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Logan I have had dozens of these exact same interactions..

    And with credit freezing and rates going up a bunch.. you can bet the folks that dont know what they dont know are going to be falling for these scams left and right..


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    1Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Jamie Bateman no nothing else. Not trying to run a legitimate note investing business or anything. 

    0Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Jay Hinrichs

    That’s the most unfortunate part about this. At this point I don’t care about my reputation being ruined by this guy, because I know there is plenty out there that anyone who is really looking in to me will find me.

    The fact that there will be so many losing to scams like this over the following months is why I am doing everything I can to stop this guy at least. 

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Logan Hassinger:

    @Jay Hinrichs

    That’s the most unfortunate part about this. At this point I don’t care about my reputation being ruined by this guy, because I know there is plenty out there that anyone who is really looking in to me will find me.

    The fact that there will be so many losing to scams like this over the following months is why I am doing everything I can to stop this guy at least. 

    the fake lender scammers have been infecting real estate for a good decade now..  If you want to see the mother of them all.

    Watch American greed  on Remington Financial  and google Ingrid Robinson..  These fake lenders have been around for decades.. I know my dad ran into them in the late 70s and 80s.. more sophisticated though they had actual offices and they would want 5 to 25k for due diligence fly out to your project ( on your money) then tell you well could not get it done.. your 25k is gone.

    I knew a guy in Canada who I lent money to in BC who got taken twice by these crooks for a project he was doing.. I finally told him listen don't be sending 20k to folks on a promise.. this is not rural Canada were people are honest LOL. 

    I wrote a blog on this for BP ( what to watch out for) knowing how many beginners read this site.

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    JLH Capital Partners51 Review
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    2Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Jay Hinrichs I love American greed so I’ll have to check that one out. The deep voice that narrates is great hah. 

    Scammers will never die, you get one and 10 replace them. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Logan Hassinger:

    @Jay Hinrichs I love American greed so I’ll have to check that one out. The deep voice that narrates is great hah. 

    Scammers will never die, you get one and 10 replace them. 

    Ingrid Robinson has a website also please check it out..   I wanted to get her to come on BP and tell her story but she would not do it.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    1Reply
  • Kyle J.
    Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
    6y

    @Logan Hassinger  The scammer is clearly violating Gmail's Policies/Terms of Service.  For example:

    -------------------------------------------------------------

    Fraud, Phishing, and other Deceptive Practices

    Don’t use Gmail for phishing. Refrain from soliciting or collecting sensitive data, including but not limited to passwords, financial details, and Social Security numbers.

    Don’t send messages to trick, mislead, or deceive other users into sharing information under false pretenses. This includes impersonating another person, company, or entity with the intent to deceive or mislead.

    -------------------------------------------------------------

    So if you wanted to, you could report them to Google abuse here: 

    https://support.google.com/mail/contact/abuse

    0Reply
  • Casey Rolland
    Investor · Port Townsend, WA · Member since 2014 · 103 posts · 50 votes
    6y

    I also received a suspicious email in BP proposing that they could lend me at 4%. I said that's too good to be true and his response was ''send me an email and I will tell you all about it".

    Why are they asking me to send them an email...?

    0Reply
  • Kyle J.
    Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
    6y
    Originally posted by @Casey Rolland:

    I also received a suspicious email in BP proposing that they could lend me at 4%. I said that's too good to be true and his response was ''send me an email and I will tell you all about it".

    Why are they asking me to send them an email...?

    Because it's a scam and they want to take your communications with them off the BP platform so they can't be monitored.  No legit lender is going to contact you out of the blue like that and offer to loan you money at 4%.  

    1Reply
  • Max Cordova
    New to Real Estate · NJ · Member since 2018 · 25 posts · 5 votes
    6y

    This is what the person sent me:

    Below are the loan terms and conditions.

    While every loan is structured to meet individual and corporate borrowing needs, our general lending parameters include:

    * Loan amounts ranging from $25,000 to $5,000,000.00

    * Interest rates starts at 5.95% to 8% depending on the type of deal involved.* 6-month to 20-year repayment term. 

    * Interest-only and amortizing payment structures.* Balloon payment is allowed 

    * There is a service charge known as the loan origination cost which is needed for the loan processing and it depends on the loan amount.

    * There are no prepayment penalties.

    See attachment for our company's brochure and entity certificate for verification. 

    References:

    David Williams
    REDACTED

    Ray Lollis

    REDACTED

    Edward Thomas

    REDACTED

    I was okay..and with a simple google search, you can tell that it was a scam.


    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Casey Rolland:

    I also received a suspicious email in BP proposing that they could lend me at 4%. I said that's too good to be true and his response was ''send me an email and I will tell you all about it".

    Why are they asking me to send them an email...?

    they want to engage U outside of BP PM system were they get found out and cut off the system.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Kyle J.:
    Originally posted by @Casey Rolland:

    I also received a suspicious email in BP proposing that they could lend me at 4%. I said that's too good to be true and his response was ''send me an email and I will tell you all about it".

    Why are they asking me to send them an email...?

    Because it's a scam and they want to take your communications with them off the BP platform so they can't be monitored.  No legit lender is going to contact you out of the blue like that and offer to loan you money at 4%.  

    Sorry Kyle I repeated your post almost verbatim  :)    

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Max Cordova:

    This is what the person sent me:

    Below are the loan terms and conditions.

    While every loan is structured to meet individual and corporate borrowing needs, our general lending parameters include:

    * Loan amounts ranging from $25,000 to $5,000,000.00

    * Interest rates starts at 5.95% to 8% depending on the type of deal involved.* 6-month to 20-year repayment term. 

    * Interest-only and amortizing payment structures.* Balloon payment is allowed 

    * There is a service charge known as the loan origination cost which is needed for the loan processing and it depends on the loan amount.

    * There are no prepayment penalties.

    See attachment for our company's brochure and entity certificate for verification. 

    References:

    David Williams
    REDACTED

    Ray Lollis

    REDACTED

    Edward Thomas

    REDACTED

    I was okay..and with a simple google search, you can tell that it was a scam.

    no lender loans 25k  and 5 million LOL.. good catch though..  and a dead give away is the language.. 

    IE :  Balloon Payments are allowed..  no lender talks like that

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Max Cordova
    New to Real Estate · NJ · Member since 2018 · 25 posts · 5 votes
    6y

    that's the website they use https://btsinvestmentllc.com

    1Reply
  • Logan Hassinger
    OP
    Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Max Cordova yep that’s the site I reported to the FBI. Just covering my self legally. 

    0Reply
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