Flipper/Rehabber · Eagle Mountain, UT · Member since 2018 · 19 posts · 11 votes
We reached out for lenders on a duplex we have under contract that is a pretty good deal if we can get funding for it. We were contacted by someone named Rita McGee for Garrett Capital offering loans from $20,000 to $100,000,000 at really good rates (4%-6%). Just want to know if anyone has heard of them.
Anyone willing to do a $20k loan isn't a legit company. There's no money to be made on a loan that size. I've brokered mortgages for years and most lenders won't even quote under $100k.
@Cherie O'Riordan yeah we figured it was a scam. In the email communications she used an "Indianism". I work in technical support, dealing primarily as an escalation engineer for our India team. Highly intelligent, extremely hard workers, but definitely not the same English as American speakers use. They like to put "kindly" in the wrong places. "Kindly send us" etc. No American says that.
That was enough to suggest that it was a scam, and when I googled the company I found a major company named Garret Capital but not the same one based in SLC, UT. That Garrett is a financial advisor for major investments. Not a lender.
I put the pieces together and eventually concluded that we were better off going elsewhere.
Too bad I was working while my wife filled out our application and gave then my social, employer, net income, etc. etc. etc.
So now I have my identity monitored and credit frozen and a fraud alert out. Good times.
Hi Daniel. Did you ever have any issues after giving your information to the people at Garrett Capital Inc? I keep getting emails from them. I asked for a website and references to vet their company but they only sent over the website. I'm 99% sure it's a scam but just wanting to see if you had any issues. Thanks.
Hi Daniel. Did you ever have any issues after giving your information to the people at Garrett Capital Inc? I keep getting emails from them. I asked for a website and references to vet their company but they only sent over the website. I'm 99% sure it's a scam but just wanting to see if you had any issues. Thanks.
I didn't, but a lot of scammers will bundle the identities they get and sell them in bulk, and many times your identity can be compromised for years before any activity is taken.