Be very careful, some of these people sell 25k courses and teach very little applicable and practical real estate investing tips.

That is from the federal side and is applicable to all loans, consumer, commercial, private, institutional, any note.Next, you get involved with a borrower using that money, controlling business or influencing operational decisions you are stepping outside the lending arena and taking on new liabilities that can place your funds at risk if there is any failure.Another comment, any fee paid that is required to be paid to obtain any loan is a cost that must be accounted for in settlements, there are a number of underlying laws depending on the type of loan but all loans and associated costs will be an issue under the tax code.There are thousands of attorneys out there I'm sure that do RE and think they know financing laws and regulations, they may have done them for years, doesn't mean they really know and most will never admit not knowing.Every bank I've seen had an attorney, all have legal advice and as I mentioned, there won't be a bank or any other lender around, that really makes loans that won't have some compliance issue.

It hurt me more to type it and present the applicable areas than it should for anyone reading it, I'm sure.There is almost 30 years of insight into these financing issues, hopefully it will benefit others in seeing a bigger picture. :)

You can pick up a copy (or books on tape/cd) to be ready for our Discussion Group 6:30 - 7:30 PM Basically the author shows how Ray Kroc (and other successful businesses) documented the simple procedures of the MacDonald brothers to grow the largest fast food purveyor in the world.

For example, Rental application, lease, move in checklist, move out checklist.

Monday we should have our application in for our certificate of occupancy (COO).

Part of your DD is to review the leases and the applications, don't just ask, require.

Its embarrassing now, but I bought Dave Deldado no money down tapes in 1990.

If a "less desirable" area still has a good pool of applicants, working class vs. war zone/no income, that's where the opportunity is.

So, if I were to say that I didn't attend a closing this past year, didn't make a loan, didn't swing a hammer, didn't list a property on the MLS or didn't do any installment sale, I would not have the pulse or rhythm of my market or be current in my market and couldn't be current with rules, regulations, laws or ordinances applicable to RE?