π¨Beware of βToo Good to Be Trueβ Private Money Lender Scamsπ¨
Iβve 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... Hereβs 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 βinsurance,β βprocessing,β "origination," or another bogus fee... - Once you send it, they vanish... β
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, thatβs 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