All Forum Posts by: Alex A.

thanks. I appreciate it. I have had lawyers trying to convince me I need to spend thousand to research this nonsense.

I am curious if anyone here does private lending and if so how do you classify your income? is it deemed to be purely passive or can it be offset against losses from real estate income?

Does anyone know if you have to comply with the truth in lending act if you are trying to do hard money loans for NON-PRIMARY residences/only to businesses ? I am looking to start doing some loans to investors and am curious about getting started and making sure I'm not on the wrong side of all of the regulations. I would hope being that these are to businesses and not to individuals and specifically for investment properties that it wouldn't be included.

thanks...appreciate the advice. Any suggestions on how to find these sellers of notes? I find it easier to find borrowers but maybe I'm just looking in the wrong spot.

interesting...my view has been I will know the propertie better by doing it myself...what are your views on note investing and unlevered returns you are looking for/how do you source paper?

sorry I responded to this now before seeing your other post! Yes I agree on the size issue but it's a place to start! I really just don't want to end up buried in regulatory paperwork. Not sure if it will keep me out of the state or not

thank you for the reply. I am definitely focused on subprime/hard money. My real concern is Ohio specific as it seems they have special regulations that may not allow out of state lenders to lend money. Any chance you are familiar with this issue?

so I am actually interested in starting a small business that does small loans in Ohio. Problem is it seems difficult to launch a biz in Ohio as an out of state lender. Any idea if that true? I'm looking to lend up to 50k for various properties (won't do primary residences). 

Why I'm curious won't they put to properties under one note? I frankly like the idea as it feels like better collateral

hi there I live out of state and looking to become a small time lender in Columbus ( loan's lesson 50,000). I live out of state and am not licensed. Im interested as it seems somewhat safe and not large checks. I don't want to lend on primary living locations only investment properties. I have heard the regulations make doing even small loans difficult .  Any guidance if this is true? If so what are the most cost-efficient and simple ways to abide by the law? I'm not living in Ohio as my family won't move. Thank you in advance for your help

Hello I am an out of state investor who is looking to start doing some small mortgage lending in Columbus. The loans will be small <100k. Does anyone have any information on the laws in Ohio? I have heard they are tough for lenders in terms of getting started as a non-bank lender is that true? Also I am and will continue to live out of state.