Posted by John Merchant on January 25, 2009 at 21:29:58:
Residential is 1-4 units, including an SFR standing alone.
Now if the loan were to include a number of SFRs and the borrower signed an affidavit that none of them was HIS home, a commercial loan might be made on them.
licensing requirements in Ohio for hard money - Posted by Logan-Ohio
Posted by Logan-Ohio on January 24, 2009 at 08:45:03:
What licensing requirements are there in Ohio to originate hard money loans and advertise to sell these investments to private investors?
In California he used to originate and market hard money loans using a real estate license, and private mortgages arranged by a broker were exempt from securities laws.
Thanks
HML commercial, normally unlic. - Posted by John Merchant
Posted by John Merchant on January 25, 2009 at 12:39:52:
Although I realize CA laws are a little tougher than most, in most states HML on commercial deals is exempt from licensing requirements.
State regulators normally don’t have any great concerns about commercial RE deals, including loans thereon…they want the homeowner’s vote, not the HML lenders.
Where in Ohio? - Posted by Tim_Cleveland
Posted by Tim_Cleveland on January 24, 2009 at 13:41:51:
Out of curiosity, where in Ohio woudl you be looking to originate these loans? I am trying to put together a deal and may need to access hard money if all else fails and coudl use soem insight.
Thanks,
Tim
Re: HML commercial, normally unlic. - Posted by jorge newbery
Posted by jorge newbery on January 25, 2009 at 16:13:11:
Would “commercial” in this context apply to non-owner occupied SFR’s?
Re: Where in Ohio? - Posted by Logan-Ohio
Posted by Logan-Ohio on January 24, 2009 at 13:47:54:
All over