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Jonathan C.
  • Real Estate Investor
  • Nashville TN
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287
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Sending Letters to Try to Get Private Lenders- Is this a Security?

Jonathan C.
  • Real Estate Investor
  • Nashville TN
Posted Mar 18 2015, 19:13

I'm looking to send letters to people who I've found through public records who I know have loaned money on real estate in the past.  I've researched this on BP, but can't seem to find a good, definitive answer.

The letters would basically say: I'm an experienced investor, I'm looking for private lenders, if you're interested, give me a call.

The thing I'm worried about is that this could be considered a security.  I would NOT be pooling money- I would give individual notes and deeds of trust on each property so that the lender has security.  I was told by a securities lawyer today that this would make it NOT a security, but he wanted $5,000 for an opinion letter to officially state this, which I'd rather not have to pay for a couple hundred letters.

Does anyone have any real world experience with this?  Has anyone actually paid a lawyer to really review this and provide definitive answer?  I'm hoping we can leverage the $2500-$10,000 someone else may have paid to have this formally reviewed.

Thanks for any information.  Jon

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