There are so many scams and weird, unnecessary replies, comments, and spamming on international websites. I use LinkedIn.com and some of the other, larger websites often but I absolutely hate the constant spam and weird scams from many different countries.
Limiting this site to the United States only will not eliminate those issues completely but it will cut down on spam and scams in a big way. As this website grows and begins to get noticed on other, larger sites online, please give me your feedback to this message by replying to the blog that I have just posted by the same title.
Your feedback will be carefully considered but you must give me your response on the blog I have just posted by this exact same title on The Real Estate Finance Website. This is your chance to be heard and shape this great funding website!
Thank you so much!
Forest, Tom, and Larry,
Thank you for your responses.
This website is run by two people that both have day jobs so I am trying to make this the best site possible while not taking up a huge amount of my time. Limiting new membership to the U.S. and Canada will not only benefit thousands of current members like yourselves but it will also save me time and decrease member complaints. This is already the best funding site online but making this new change will make it even better in the long term.
One other thing just so everyone sees this as it is coming from the owner of this website:
100% LTV REAL ESTATE FINANCING DOES NOT EXIST!!! PLEASE DO NOT PRETEND THAT YOU OFFER IT HERE ON THIS WEBSITE.
Understood and kudos to you both for what you have created so far. Appreciate it all.
I am with Forest Tardibuono on this. Keep up the good work and may God bless your efforts!
You're most welcome and your efforts are greatly appreciated. Please don't hesitate to call on me if I can ever be of assistance.
My $.02 would be to limit the site to "North America" (to include Canada) for the following reasons:
1) Many lending sources offer programs in both the U.S. and Canada which are similar in structure.
2) Most of the "deals" and "sources of funds" I've seen upon the site which represent being able to provide funding outside of the U.S. and/or Canada are quantifiable b.s. to anyone with more than a rudimentary understanding of a typical deal structure or lending guidelines.
3) There are legal remedies for someone victimized (borrower or lender) in both the U.S. and Canada while it's extremely difficult, costly, or outright impossible to seek relief elsewhere in the World. Let's face it, our industry is rife with innumerable unscrupulous individuals.
4) It would bring more legitimacy to the site and weed-out those who have little/nothing substantive to offer.
Again, this is just my $.02 and those of you here who know me will recognize I'm not shy about offering such and I'm seldom found to be outright incorrect (although occasionally mistaken):)
I echo what Mike said. Well put.
Limiting this website to USA only would be a mistake. There are a number of legitimate lenders, brokers and borrowers in other countries. As far as people in other countries asking for 100% financing as mentioned in another comment, it happens in the states far more often. Scams happen everywhere, even in the USA, besides, anyone from another country can simply use a proxy server in the states to connect to a website restricting access to USA only. USA phone numbers are available as well through providers such as Magic Jack, Net Talk and others. I am a consultant and have clients throughout the United States and other countries. Although I am a US citizen, I live in the country of Panama. I primarily work with people by email and phone, a USA number from Net Talk. I also use Skype and Google + to communicate with clients in other countries. If anything, you should create separate pages for different countries or continents. It would make it easier for brokers, lenders and borrowers to connect with others that are doing business in their country.
would not be better to create a database that manages legitimate lenders, brokers and applicants for funding, and each new member must apply, for registration, sending personal documents and tax.
It 's impossible?
Its hard to say although I totally understand keeping it USA only. If anyone comes in that is international, provide more strict requirements if they want to be part the group.
I've been following and reading all the responses here. As you can see, a large majority of members here are calling for USA and Canada only. It's ultimately your decision but in my humble opinion, you could stay busy on this website dealing with just the US and Canadian projects.
Several others have also pointed out legal complications if international investors bail or go upside down on their projects. The international investors who have approached me for financing want 100% LTV with no upfront fees; in other words, they want everything for nothing. This is a huge drain on time for everyone.
If you feel you want or need international flavor, then I concur with a few others here that you should have a separate section or perhaps even another website for (those) international projects.
I like your suggestions and agree. A separate section for members requesting financing for International projects and also think that anyone offering financing should identify where they are and from what country is the investor that has the funds. If someone only wants to deal with a USA broker with USA funding sources, that's their decision.
It is the responsibility of each member to do their own due diligence, not the website administrators. It is helpful though that the website administrators provide verified funding sources and it also is to the benefit of the funding sources to become verified. .