Hello,

I just signed up, and being cautious and curious, I am wondering how legitimate some of these lenders are? No offence but I would NEVER deal with anyone over the net or, for that fact, in person using a hotmail or yahoo account.

Some of the other lenders have websites that were put together by a 5 year old and do not even show up in a Goggle search.

Has anyone had a positive lending experience?

I am always extremely cautious, not trying to offend anyone. I have done millions in business and myself and my Company show up on goggle search.

Regards

Andrew Zorko

www.brightongroup.ca

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I couldn't agree more Andrew. 

As a Hard Money Lender and Broker since 1988 here in Northern California, I pride myself in making sure any private investor and borrower are both completely legit by full documentation and legal forms and even meeting them in person to sign the docs if possible. 

There are unfortunately many individuals who have hurt us legit and honest business owners.  Best is to put yourself out on social networks, a complete website, portray testimonials, etc.,etc to show you are legit.  And having years of experience with a definite local of office helps. 

Best, Forest - The Guy in the White Hat

Hi Andrew,

I understand you being cautious and curious in looking for legitimate lenders and you should be.

Have realistic expectations about your financing needs.  Unrealistic expectations generally leaves people open for getting scammed by unscrupulous brokers and fake lenders. No serious investor or lender is going to respond to a blind request for private money "to fund some real estate deals". Those opportunities are all over the place. What sets your opportunity apart from the others? What is it about your deals that would be attractive to an investor/funder?

Diane

 

Do your due diligence on 

Yes I am commercial lender and sometimes I have to check mortgage company's websites or investors too, but its always good to just pick the phone and contact them to see if their real! But working over the net is just sometimes fast and some people just like to deal that way.For us we get back to clients and a matter of minutes over the net. However we still need documents, tax returns, bio, corporate and individual financial statements and so on to let clients know if we can move forward or why we can't move forward or the client has to bring something extra to the table. But still a phone call and you will know who is real. 

I couldn't agree more...Derrick

thank you Diane, 

and then we get clients who don't understand that we have to pass up on their deal, because they are asking for 100% FINANCING!! COME ON ALREADY WE JUST CAME OUT OF A RECESSION, or you don't want to pay APPRAISAL , ENVIRONMENTAL FEES AND SO ON,  Because you have to check companies websites to see if we are REAL, We as lenders have to check CERTAIN DOCUMENTS to see if YOUR real. Therefore the pendulum does swing both ways! 

THXS DIANE AGAIN

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Odds are, if it's too good to be true, it probably is. That holds true for supposed lenders and supposed principals. You will spin your wheels and waste time.

The commercial lending field has completely changed and is extremely tight still. Things are loosening up but it seems there people promising impossible deals. Only strong deals with skin are getting done. Yes, there are real lenders doing real deals but buyer beware.

There are a lot of people that know enough to be dangerous...

TIPS

- Do your due diligence

- Avoid the daisy chain

- Ask yourself, if it was your money, would make that loan??

- Upfront fees? RUN! the other way!!

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