For a LO, you have the additional screening to make sure they'll be ready to buy when the time comes.Good luck!

Say a Los Angeles investor is looking into the Inland Empire (ground zero for foreclosures in Southern California).

My friend is dealing with the aftermath of a LO.

With that said, it would be smart to structure it in a way that will actually help the tenant buy, and you sell.When structuring a LO you will take a down payment called on Option Fee.

Originally posted by Financexaminer:But doing the Lonnie Deals may require you to have a mortgage origination license under the SAFE Act, as they are residential properties, again, check with you state as some have provided some exemptions for mobile home dealers, if thats what you would be.After reading the state website it sounded like I need a LO license...

If I remember correctly, a LO cannot exceed 6 months, right?

As far as paying an agent after a LO closes...my thought is who wants to try to track down an agent 12 or so months later, and also remember what agent was tied to that property?

I alos know several others who have as well.What it does take is hard work and determination.

When I was doing loans, as a LO, my greatest "commission", was being able to educate my clients, who were prime targets for the scam of the century.

I dont think a LOE will do it.