Client needs $12,500 for Due Diligence Fee
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  1. #1

    Client needs $12,500 for Due Diligence Fee

    Client has his funds tied into the project and is needing $12,500 for a Due Diligence Fee in order to secure loan. The client is committing to paying back investor $25,000. Funds will be paid back once the loan goes through. The lending process takes three weeks for due diligence and then two weeks after that to fund. Please give me a call and we can discuss the deal in more detail with myself and the client. Thank you.

    815-878-0244

  2. #2
    Senior Member Reputation points: 16709
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    Who is asking for a $12500 upfront DD fee? A bank or "private lender?"
    I have seen to many fee takers and scammers. I would be suspect of any asking this upfront. More suspect that the client does not have cash for that fee. I suppose he is approved for millions of dollars.

  3. #3
    Senior Member Reputation points: 67918 Olderguy's Avatar
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    If they don't have the due diligence fee, then they don't have any capital contribution which would normally be required for the LOI or Term Sheet. Unless I'm missing something.

    Find an asset and pawn it....pawn shop is fast and easy.
    Last edited by Olderguy; 03-30-2024 at 12:25 AM.
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  4. #4

    Totally Understand and Have ran into that myself

    Quote Originally Posted by omegafund View Post
    Who is asking for a $12500 upfront DD fee? A bank or "private lender?"
    I have seen to many fee takers and scammers. I would be suspect of any asking this upfront. More suspect that the client does not have cash for that fee. I suppose he is approved for millions of dollars.
    Totally get that as well. I have ran into that myself in the past but I have worker with this private group before and they have been able to perform and come through with the loan. The client is approved for a 30 million dollar loan as their first traunch. They are using equity to get the funding. The clients credit is tapped from all the raising he has done and the investments we've raised is just shy of the $12,500. No assets oh value at this time.

  5. #5
    The client is approved for a 30 million dollar loan as their first traunch. They are using equity to get the funding. The clients credit is tapped from all the raising he has done and the investments we've raised is just shy of the $12,500. No assets oh value at this time. The term sheet goes over the equity portion and the DD is there to show skin in the game. They originally didn't ask for this before hand but they also got burned as well in the past because they would be out the money and DD came back as a no go. So they do this to protect themselves. Know of anyone that is wanting to make an investment of that much? My client will pay back double the amount.

  6. #6
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    You are joking here right lol!!!
    Elon Henek
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  7. #7
    Quote Originally Posted by brandondresslerpfg View Post
    The client is approved for a 30 million dollar loan as their first traunch. They are using equity to get the funding. The clients credit is tapped from all the raising he has done and the investments we've raised is just shy of the $12,500. No assets oh value at this time. The term sheet goes over the equity portion and the DD is there to show skin in the game. They originally didn't ask for this before hand but they also got burned as well in the past because they would be out the money and DD came back as a no go. So they do this to protect themselves. Know of anyone that is wanting to make an investment of that much? My client will pay back double the amount.
    is this lender under the legal drinking age and based out of brooklyn?
    Lifetime Funding
    nicholas@lifetimefundingllc.com
    516-604-0609

  8. #8
    Senior Member Reputation points: 16429 fundinggrasshopper's Avatar
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    Quote Originally Posted by FLORIDAMAN View Post
    is this lender under the legal drinking age and based out of brooklyn?
    LMAO

    posts like this are making daily funder great again

  9. #9
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    "The client is approved for a 30 million dollar loan"

    $12,500 DD fee on a $30mm loan?

    Be prepared to bend over.


    Quote Originally Posted by brandondresslerpfg View Post
    Client has his funds tied into the project and is needing $12,500 for a Due Diligence Fee in order to secure loan. The client is committing to paying back investor $25,000. Funds will be paid back once the loan goes through. The lending process takes three weeks for due diligence and then two weeks after that to fund. Please give me a call and we can discuss the deal in more detail with myself and the client. Thank you.

    815-878-0244
    Mike Lewis - commercial real estate loan broker / owner
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