Licensing Requirements to lend my money

[Michael G.]

New to Private Money Lending/Hard Money Lending and I would prefer to hear from you guys before I make a million mistakes! 

Scenario: I myself, want to lend $200,000.00 and the lawyer does up the contract for the note and a Trust Deed between myself and this guy I had already sold a property to, a year ago. What licenses must I have if any? Do I need any?

1. My own money

2. I am not a business

3. I do not advertise or have any business cards.

4. Yes, I would like to charge a couple points and it will be an Interest Only loan that will have a 6 month to 1 year term.

I have read that you cannot charge points.

I have heard that no license is needed and then someone said that a license is needed

I am hoping someone can spell it out for me so I can comply 100% and not have to worry about losing the little money I have.

Thanks

[Michael G.]

UPDATE - Factual Info obtained from Oregon Licensing Division - I took the advise of Jay & Jeff and contacted the State of Oregon and they told me the following:

1. Anyone without any license can lend money on any commercial property or business deal in Oregon and charge 1 point or any amount of points that the 2 parties agree on which could be 2, 3, 4, or more.

2. The number of loans that a unlicensed person or private party can do in Oregon, can be unlimited. They can do 1 loan or 100 loans a year. - This surprised me also!

3. Usury laws in Oregon are non existing he said for commercial transactions. He said usury only applies to residential properties. I was surprised at that answer.

4. If you want to do 5 or more residential units at the same time, no license needed but if you want to do 1 to 4 residential units, you must have a license in the state of Oregon.

I wanted to get this info out to everyone that ever has a question in the future and the number I called can not be given out on this site I believe but I will gladly give it to anyone that needs it and the name of the man I spoke to.

Note: This information is not made up or my opinion, it came directly from Oregon State/Licensing Division!

This info may be challenged and maybe there is more particulars but I was on the phone with Oregon for some time and I was very clear so that when I posted this message, it would be factual. I even called Oregon back to make sure of what I was told the first time concerning all points listed above.

Michael Gardner