Mountain Financing

5 Replies

Good morning,  I was wondering if anyone has done business with Michael Pitterson with Mountain Financing out of PA.  

Thanks  Nadine

I have not done business with him but I have been approached to do business with him. The terms offered sound reasonable enough however I am trying to conduct due diligence and am finding it difficult to find any information on the company. That raises a bit of a red flag for me. I was told his website is undergoing maintenance so it wasn't available. While he may be a legitimate lender, the way I was approached and the information I was asked for along with the way I was asked for it was similar to the phishing scams I have been emailed asking for all my personal information. I haven't ruled out doing business with him but have yet to find any verifiable information about his Mountain Financial LLC.

   Anyone else out here have a similar experience?

I have never heard of them but I do have a lot of connections for financing in PA because of my REIA club. If you go to the American Association of Private Lenders, they have a ton of funders. It an org for hard money, private money, and private equity people to network among themselves. Last summer the meeting was in Philly. Im trying to get them to come to Pittsburgh but my club already has access to all of them anyway. Im not sure if I have anything to induce them to come with.

To your success

Josh

Robert, I am having the same issue as I am going through my due diligence.
I received a promissory note from him with an address of Tower Bridge 1 Fayette St. Suite 225, Conshohocken, PA but his Bigger Pockets profile indicates he is locate in CA.

There are several financial business located at this address according to Bizapedia. One is Mountain Finance LLC. Also I have never spoken to Michael Pitterson, he always responds through email. I find this very frustrating because his terms seem very reasonable. But if I cannot verify the legitimacy of the company I am going to have to us a different lender.

I spoke with a manager from Mountain Finance (Mr. Joffe), and was told that Mr. Pitterson never worked for Mountain Finance company (NV) and that this is a trust company, not a finance company.  According to the secretary , in the last 6 months they have had other people call asking about this individual as well.  They advised that I not sign any paper work or give him any money.  (Excellent advice)

Originally posted by @Nadine Massarelli :

I spoke with a manager from Mountain Finance (Mr. Joffe), and was told that Mr. Pitterson never worked for Mountain Finance company (NV) and that this is a trust company, not a finance company.  According to the secretary , in the last 6 months they have had other people call asking about this individual as well.  They advised that I not sign any paper work or give him any money.  (Excellent advice)

 Thank you for showing how a little due diligence beforehand can save you tons of heartache down the road. Good looking out! We need to take note.

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