Do I need a license to buy Mortgage notes?

[Carlo D.]

Do I need a license from my home state to buy mortgage notes? Do i need to be licensed in the state where the real estate is located for the mortgage one is buying? Thank you in advance.

[Chris Seveney]

@Carlo D. If you are getting started and are in New York, I would not recommmend you buy in New York

Start in a place like Michigan, Tennessee, Missouri or Mississippi. New York is the most complex and challenging state to own notes

Many still do it there as there is no competition, but it’s absolutely not for the faint of heart.