Regarding lending and scams... AGAIN!

To all members,

This website does not promote or sponsor any lending sources at this time. We do have a funding sources page. Over a year ago all of those sources, with a few more recent additions, were thoroughly verified. They may not all still be in business now, but they either are or at least recently were actual direct funding sources. Always start there.

Regarding constant complaining about scams and fake lenders:

This is not the website for that. There are plenty of places to waste the day complaining. This website is not one of them. One complaint, sure that is understandable, but when the same few people complain and yell scam constantly, I will start deleting these people from this website. I will not allow this website to turn into a complaint site for losers that don't know how to do their own job. If you have a question, ask it publicly and you will likely get answers. If you are in the real estate business, or mortgage business, learn how to do your own job. Learn how to verify a funding source. Learn the loan process and why each step is important. If you get taken for your hard earned money, it is your own fault! Don't give up your money until a service has been performed. If you pay upfront for a 2% commercial loan and lose that upfront money, it is your fault! If you expect a loan from a lender that is not in your own country, wake up! Lenders lend in their own country, with a few exceptions, and if you cannot find a lender in your own country willing to lend you money than you are either unqualified or the property is not worthy of a loan against it. Just be realistic and if it sounds too good to be true, it is! Learn your job, learn what a real lender is and how they operate.

If you wish to complain, do it once and let it be done! Don't call another member of this site a scam unless you can prove, really prove, that they are. Most people lose their money because they don't have a real loan, a solid property, or have ridiculous expectations. Don't give money if you cannot verify the lender. You, yourself need to verify, not yell scam just because you have no clue how to make a loan or what a qualified property is.

Please help me make this the one positive funding website online. No member bashing or you will be deleted and your email address banned. This site needs to be a positive resource. If you truly get scammed, email me, and have PROOF of it. Do not expect an immediate reply but within a few days you will have a response. Before you do that, please do yourself and your clients a favor and know what you are doing before you seek funding. Learn the business and what a lender needs before you cry foul!

Please be positive, know your job, and do YOUR OWN due diligence. It will make you more professional, more successful, and keep this site positive and helpful to the thousands that are using it. The more you know how to do your own job, how to spot a fake lender or broker, and what a qualified property is, the more money you will make and the better your own reputation will be!

This post is being made by the owner of the real estate finance website. If you would like to comment or reply to this post, please do, but keep it positive. So many business and funding websites are mainly negative, not this site, we are going to keep this a positive community where you can find funding, post questions, read and post news and information, and interact with thousands of mortgage and real estate professionals.

Thank you all very much for reading and using this great resource.

Admin

15 members like this

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Replies to This Discussion

Permalink Reply by Chris Miller on September 28, 2013 at 1:15pm

This is true. Too many people blame the broker or lender when they cannot identify a property value, try to submit an LTV that is very high, or don't submit a complete loan package. People that want to buy a property should learn how to buy and what is needed to qualify for funding instead of just thinking that they are going to buy a bunch of properties and get rich. That is not how it works. Learn the business, learn which properties make sense for long term investment, and learn how financing can be completed before blaming others because you are too hurried or immature to do your own due diligence and your own research. There are definitely illegitimate funding sources but in reality most lenders and brokers are real they just don't have time for the constant games played by so called "investors".

Just my two cents from someone that specializes in investment real estate funding and nothing else.

Thanks for a great site Monty. I think we have a mutual friend on here named Aaron Williams.

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Permalink Reply by Rick Calissi on September 29, 2013 at 9:43am

People seeking CRE funding need to know the process, what financial paperwork is needed on their part, total assets owned, refi requirements and down payment amount, to name a few. Here are some links that discuss this very subject:

http://sofiacapitalventures.com/10-top-reasons-why-commercial-loans...
and

http://sofiacapitalventures.com/how-to-select-a-commercial-mortgage/

and

http://www.marshallcf.com/blog/SevenReasonsWhyCommercialLoansDontGe...

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Permalink Reply by Marie on September 29, 2013 at 12:34pm

All I have to say is AMEN!

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Permalink Reply by John Crowley on October 8, 2013 at 3:10pm

Yes we all should be diligent and careful in making our financing deals.

If we communicate with each other about the latest scam and not complain but explain what happen and the circumstances we can gain experience and stop the scam artists.

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Permalink Reply by Al Twitty on October 21, 2013 at 6:06pm

We are seeking funding in the Memphis area

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Permalink Reply by Bruce Sheffield on October 21, 2013 at 10:23pm

Hello Al,

What is the nature of the project for which you're seeking funding? If it is a commercial project; development, acquisition, refinancing, hard money or the like, then feel free to contact me when you're ready to move forward.

Thank you,