SFH Private Lenders and Advertising (for partners?)
So I have tried to read the Dodd Frank legislation, but I can't make heads or tails of it, but some time back, I'd heard that we couldn't advertise the way we used to for private lenders (Attn Investors Earn 8%-15% return on your money secured by first mortgage in real estate)...
Then I heard that we had to either a.) advertise for 'partners' and then segue into just lending or b.) build relationships first.
I actually did place an ad on CL for a 'partner' and I did get one good response from someone who says if I can show him some credibility and a deal, he'll put up the money if I do all the work.
Everything I've read with regards to Dodd Frank on 'advertising' for private lenders seems to indicate that the advertising rules only apply if you're borrowing over $5M or if you are commingling funds and forming a security.
I am looking for one lender only, per property, which are all single family homes for less than $75K.
Can anyone tell me what I need to know to be sure I'm in compliance with Dodd-Frank with regards to advertising/soliciting private lenders? Thanks.
Most Popular Reply
Your post is confusing to me. Are you looking for hard money lender or you raising private equity/looking for partner. Dodd Frank applies only to mortgage financing for primary residence. SEC regulations apply to raising capital.