๐จBeware of โToo Good to Be Trueโ Private Money Lender Scams๐จ
Iโve been in this industry for a while now, and I want to make everyone aware of a common scam that targets investors looking for funding... Hereโs the setup: - A scammer poses as a private money lender, offering unrealistic terms (super low interest, no credit checks, huge loan amounts). - It all sounds amazing UNTIL they ask you to send money upfront for โinsurance,โ โprocessing,โ "origination," or another bogus fee... - Once you send it, they vanish... โ
Friendly Reminders: - NEVER pay money upfront for a loan. Real lenders are paid at closing, not before. - Always use a title or escrow company for funds! never wire money directly to an individual. - If someone pressures you to skip proper channels, thatโs a red flag. - Remember: if the deal seems too good to be true, it probably is... Stay safe out there...protect yourself and your business! Sincerely, Adam