Precautionary Approaches to Fraudulent Private Money Lenders

[Mike DeBuccio Jr.]

Hey BP World!

I have found that many of my investors have been having issues with fraudulent private money lenders down here in Florida.

With that being said, I was wondering what types of precautions can be taken when dealing with a private money lender.

Any feedback helps!

[John Thedford]

Ask for references. Ask on BP. NEVER pay advance fees with the exception of an appraisal. Legitimate lenders may want points, and those should ONLY be paid at closing.