I just need to know where to find out the legal aspects of what you can and can't do in lending private money.

I also am an proud entrepreneur and Manager with Pre-Paid Legal Services - a service I believe every investor should have to help protect their assets and their families as a result.

At closing they issue me a legal binding purchace contract with a delayed closing date of 12- 24 months.They then lease option the property.They give me the payment guaranteed 5 days b4 due date.

Not even close.If someone wants to own real estate then they shoulddo it legally and pay any taxes associated.

I suggest starting with owner financing and lease options-some investors don't like this technique so it can be a niche for you..It was for me and as a result I became successful..There are other little to no risk methods like flipping wholesale projects(yes it is legal) you have to have the knowledge as to how to structure your deal but I already have a book going..I recommend starting with these type of methods because it will build your cash flow and once you have consistent profit you can become even more creative and do more advanced strategies.

would it be legal for me to provide such a service without having any type of real estate license?

You'll likely have to pay settlement costs, but here are some options (cheapest to most expensive):Purchase a property subject to original financing (depends on loan balance)80% first loan 20% second loanFHA loan (for owner-occupied multi family)Seller-financed property (if your credit score is 625+)Lease-option with small option consideration (not legal in all states)ARM loan (don't be surprised when rates jump soon)Private equity (get someone to partner with you and use THEIR money)Hard money loan (generally less than 70% of ARV for property)

It's true, you must give some kind of option consideration to legally secure your option.

Unfortunately, financial planners are legally not allowed to give advice on mortgages.Everyone has their opinions, but the average homeowner (statistically) stays in their home or refinances, every 5-7 years.The interest only option get be used for you in a couple of ways:1.

I am happy to help with any NC legal questions regarding closings, title issues, etc.