In your case, you will be using the cash to flip homes and that makes this a business purpose loan – the realm of most HML's.The problem I see is that most HML's will want to be in first position and if you already have a first on your home, this will be difficult.

The purpose for this rule is to provide a consumer with direct access to a broker or manager without the necessity of first contact the agent.Additionally, both Maryland law and the National Association of REALTORS® (NAR) Code of Ethics prohibit licensees and REALTORS® from advertising in a misleading or untruthful manner.

You are not making the loan for this purpose, therefore you are not a MLO.Q.

The goal is to have our own money, which is the purpose for doing the rehabs, but we will have to start out with a little and keep investing in the business to build more.

Our Buyer: Purpose: Buyer needs new place of business-successful growing home improv. business who is a subcontractor of mine - very attracted to owner financing and wil complete rehab at own expense.Willing to Pay: 125k purchase pricew/ Down Payment of 40k (20k to seller and 20k to us)Terms: TBD but would likely accept terms of: approx. $2,000/month pay. 5-10 yr. term @ 8-10%possible balloon payment in play as well We dont want potential legal ramifications from a deal structured this way.

Im sure you will get more calls with that approach, but it will likely be out of curiosity.The purpose of this thread is to generate discussion on the matter.

If the buyer is short on credits that means they don't dont have enough in equity FOR LOAN PURPOSES as they thought.

I am not a accountant and any info given is just for education purposes and should not be used as legal advice**As for withholding, there are restrictions and you may be subject to withholding.

I agree with James,  Too risky unless you have a purpose for the building.

We don't publicize the location everywhere only because the restaurant needs a head count for staffing purposes ahead of time, so we ask that people give us a heads-up that they're coming.Depending on your wife's level of experience, I could sponsor her myself, however, if she has no real estate experience at all, then I'm probably not her best option, as I do not have a formal training program in place for those who are just learning the ropes.