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It has come to my attention that there are a few non-licensed lenders promoting private money loans here on CREPIG.
For me this is an issue. Mostly with groups that are hiring people with no training or background to lend out huge amounts of cash for commercial property, oil, gas etc... loans.
First I do not want Oil, Gas, Gold and other commodities mentioned on this site. Secondly I do not want to promote those that want to leave the reputable broker out of the loop.
I understand that due to the SAFE Act of 2008 that you are allowed up to 5 private money loans before you need a license so if you are the direct lender, not the representative of the direct lender then I will allow, but if you are an independent consultant, then I am sorry, please go elsewhere to sell or promote your loan.
Also, there are a few members that post 8 items a day... We have not set a number limit, but will now have to as too many are taking advantage of the forum posting. It is considered spamming to post numerous posts in a short time frame as it restricts others posts from being seen and that is just rude...
This site will only allow licensed lenders or real private money lenders to promote on this site from now on.
I am looking for private lenders for some of my clients.
Many of them, I have found charge upfront fees and are not legitimate. They just take the clients money and disappear and the phone numbers they use are listed in the U.S. but are not real.
If you have any private lenders you can suggest, I would be very appreciative.