REI You posted:
"When you say you are a notes and REO broker does that mean you are licensed in your state to broker real estate?
What can you tell us about yourself, your background and other things that will help us better understand the new member in the room?"
To answer this and to let you all know more about me.
1. No I don’t hold a RE license, but in my state I can do up to 5 real estate deals per year as a consultant. After which I have a realtor I will enlist the services of.
2. I am a licensed mortgage originator, which is all I need to broker the sale of mortgage note pools, to one buyer.
3. I am going to get my securities license so that I don’t have to worry about any violations on a national level, as there are some states that require this type of licensing, that being the case I have a colleague that hold such a license and is willing to act as the broker in the transaction.
I have 3 almost 4 years in residential mortgage origination, although, I have moved away from that area of lending since the market collapse. I do however; continue to originate commercial mortgages on a national level. I have a select number of direct commercial lenders that I deal with and I don’t shop deals. If my lenders can’t do it then I can’t. I also have hard and private money lenders that can lend nationally and internationally on commercial properties.
I hope that this helps everyone to better understand me and what I can offer to the group.
