Thousands Sucked Dry By Hard Money Parasites- How To Avoid The Loan Leech!

Fri, 02 Jul 2010 06:17:54 +0000

Thousands Sucked Dry By Hard Money Parasites- How To Avoid The
Loan Leech! by The Hard Money Specialist

(c)2005 The Hard Money Specialist- All Rights reserved
www.hardmoneyspecialist.com

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There are creatures that prowl about the lush, green hard money
jungle that ignorantly kill 99 out of 100 deals…and the chances
of you ever finding a real lender with them are slim and none.

Now I’m not talking about respectable brokers, agents or
middlemen that have direct access to the money and treat their
clients with respect. I’m referring to the ignorant leech who
has absolutely no connection to a real investor at all, and
leads the innocent, sometimes desperate client into a black hole
of false hope.

They are despicable, not because they don’t want to secure
funding for their client, but because they don’t know the first
thing about the real world of private lending… They are in it
for the hope of big broker fees and don’t really care about the
myriad of candidates vying for funding!

They don’t give a flying squirrel about the client, their
particular circumstances or the massive amount of time that will
be wasted. They set their hook and then proceed to drag their
unsuspecting prey into a daisy-chain jungle, hoping that
someway, somehow, someone they find will fund the deal (throw
enough wet spaghetti against the wall and something eventually
has got to stick mentality).

This jungle leech calls every person he can find, other leeches,
quasi-brokers and the like, hoping that someone will know
someone who knows someone’s rich brother-in-law. This fishing
can take days and sometimes weeks, and, if they ever get lucky
enough to find an interested party, they simply sit back and
pacify the unsuspecting client as long as they can until they
find a way to the cash. Now, if the interested party is another
leech (and 99% of the time they are) you can see how this
daisy-chain can quickly grow into an anchor that drags the deal
into the shadows of the jungle.

Many deals never get funded because there are too many hands in
the cookie jar…”a plethora of parasites” if you will. If one
leech senses he won’t get his cut of the profits, he can and
usually does, kill the deal so NO ONE gets paid. And the sad
thing is, a real hard money lender doesn’t go near a deal that’s
been picked over. It doesn’t have to be this way. There are
simple indicators you can learn to help you deal directly with
the real private money lender. If you follow these basic rules,
you will save yourself considerable time, frustration and
heartache.

Rule No.1- If they ask for an upfront fee, laugh, scream “leech”
into the receiver and hang-up the phone! Who knows, maybe you’ll
freak one out and he’ll change professions.

Rule No. 2- Real hard money or private money lenders know
EXACTLY what they are looking for and will tell you (always
during the first phone call) if your deal fits their criteria.
If the agent or broker is not sure, staggers a bit and has to
check, again, hang-up the phone!

Rule No. 3- Don’t throw out your deal for everyone to look at.
Go at it one investor at a time. Remember, real lenders know
when a deal has been handed around…picked over deals are already
dead! They won’t even look at them.

Rule No. 4- Do a web search on the company, group or individual
to see if there is any derogatory information floating around
about them. If you don’t find anything at all that’s OK. There
are only a handful of real investors in every area and they
generally are very private individuals or small groups.

Rule No. 5- Try to deal with someone local if you can. It’s
easier to check them out and get a good read on them.

Rule No. 6- Most genuine private investors and their
representatives are pretty laid back. It’s the over exuberant or
hyper individual I would stay away from.

Rule No. 7- With bigger deals, like commercial developments,
know what documentation you need to get together for your
package by checking with your financial advisor or banker.

I sincerely hope this article helps you in your quest to find a
real lender who can fund your deal and avoid the hard money
jungle altogether! Why not just take the easy route and visit
me? That’s what I do!
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The Hard Money Specialist has helped thousands of clients secure
financing. Need to get to the real investor? Click here now-
http://www.hardmoneyspecialist.com hardmoneyspecialist@cox.net
or call 949-305-1793– 6 FREE GIFTS just for visiting!

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Thousands Sucked Dry By Hard Money Parasites- How To Avoid The Loan Leech!