Private Money

11 Replies

Has anyone out there heard of the website "private money goldmine.com"?  They're selling lists of private lenders in your area.  I was wondering how legit these lists are. If anyone has any experience dealing with them I'd greatly appreciate your feedback.

Hi Greg......I am a new investor, and one of the problems that I have run into is locating the funding for potential deals. I just checked this site out, and it seems like a dream come true........which makes me a little nervous. You know the old adage about something seeming to good to be true. I am very interested in seeing where this thread leads and what information comes of it.

Those sources are usually baloney. Old lists that have been scraped from other sites so you will be wasting quite a bit of time and money.

If you PM me I can point you to a lender that will lend in various states and judges the deal based on the asset, not the individual.

By the way, welcome to BP @Gregory Boudle and @Peter Trunzo

Ive never had any success with it. 

This has been talked about several times before. Hopefully a search will bring it up. 

The consensus was that it was basically a scam.

Unfortunately I had the same experience as other users.  Seems like a lot of international scam artists using Google phone numbers to try and extort funds.  We gave it a shot for a while only to leave and cancel our membership empty handed.  All we were looking for were Private Money lenders looking to make a Secured 10% on their funds.  

I actually signed up for their service, but most of those people are either hard-money lenders, or shady people. 

Not worth spending money on. 

I did it and called a bunch of them a couple of years ago. Waste of $100. Most were pretty surprised I called them. A few were HML's with crappy rates. Lots of disconnected #'s etc.

Almost all of the sites like that are junk. They're purportedly making access to private lenders simple. If you ever happened to cozy up to a lender through means like that, I'm guessing they're requirements are ridiculous. Point is, there is almost no easy way to private money. If you have the experience basis to borrow money for real estate investment responsibly, you're far better off developing relationships here on BP and seeking private money from or through them.

Marshall Downs

    Hi All. I am just beginning to use BP regularly and wanted to alert you of a free webinar I am hosting tomorrow (12/30) night at 7:30pm CST. It is centered around finding unlimited private money for Real Estate Deals and I will have Keith Yackey, Founder of Private Money Pro, on with me to share his strategies and answer questions.

    Hope to see you all on there.

    My Daughter and I are new to REI and would love to find some private lenders that are trust worthy that we could use to get off the ground with. Any suggestions? We are located in Central Georgia.

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