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

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

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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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.

See this reply in the discussion

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  • Syndicator and Fund Manager · Victor, NY · Member since 2012 · 760 posts · 345 votes
    6y

    @Logan Hassinger

    I’ve both borrowed and lent out millions of dollars and never once has a fee been paid prior to closing. I am aware of some legitimate shops that do charge upfront fees but I would be HIGHLY skeptical and spend time on due diligence before paying anything. These days Capital is everywhere. No need to pay upfront unless it’s an extremely difficult deal, and even then most will take the fees at closing.

  • Specialist · Fort Worth, TX · Member since 2014 · 528 posts · 226 votes
    6y

    @Derek Carroll

    Thanks for chiming in and sharing a how a professional lender does business. Hopefully others see this post for more than to be aware of this particular scammer and understands how to be more aware of lending works. 

  • New to Real Estate · USA · Member since 2020 · 13 posts · 5 votes
    6y

    I just got that email a few minutes ago! and I immediately googled your name. There should be some type of criteria for people to even send emails like that.

  • Investor · Jasper GA · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    BTS according to The BBB

    https://www.bbb.org/us/oh/clev...

    They do not have an office at the address they provided the BBB 

  • Member since 2020 · 1 post · 0 votes
    6y

    Good thing I looked this email up address up & found this thread. That person just reached out to me. What a shame!

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