MLO Licensing

[Patrick Lindsey]

I've been looking at doing hard money lending and eventually opening up a small shop. What are the licensing requirements (MLO license necessary?) or other professional development things I should be thinking about? I don't come from a business background but do plan on getting my MBA in the next few years. I've already talked to some HMLs in my area and plan on lending through them a few times to get exposure to the process and how they do business as well as get a better idea of what kind of returns to expect and any other issues that may come up.

I'd love to hear from anyone out there that actually has their own HML business and how they got to where they are and their feelings about the journey/business in general.