Updated about 6 years ago on . Most recent reply
My experience with dohardmoney.com
The first time I talked to them on the phone it seemed too good to be true! I asked them straight forward questions about there financing and they stated that there interest rate was only 5%. I was amazed by that and asked how they could do that and make money? She stated that they make money from a long term relationship and multiple deals from the same person. I was intrigued and started to do some more research. Come to find out they charge the usual high rates of 15-18%. When I called back and asked why she told me 5% and the websites stated 15-18%, she proceeded to make the excuse that she doesn't use the standard system for figuring interest rate, instead she uses a system that makes it sound as if you're getting a great deal. She clearly knew that I thought it was a great deal and made no effort to clarify. To me that is a red flag. You never want to do business with anyone being deceptive!
Secondly they require $3,000 up front just to be a member. That my friends is the biggest red flag! You need to run, run run!