Is it TRUE?

[Eric Mun]

Is it true that a private money individuals (excluding institutions) can only lend 7 times in their lifetime in California before they need to process the loans through a brokerage?

I have a private investor who  wants to invest in my deals but is worried they can only do it 7 times before they're capped.  The investor is planning to fund the majority of a deal in first position with a deed of trust.

Any insights from the brilliant BP community are much appreciated!!