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