Skip to content
General Real Estate Investing

User Stats

2,237
Posts
2,894
Votes
Nick C.
Pro Member
  • Specialist
  • Tampa, FL
2,894
Votes |
2,237
Posts

Florida HB 747 - The end of private lending in Florida?

Nick C.
Pro Member
  • Specialist
  • Tampa, FL
Posted Jun 26 2017, 07:26

If I read this correctly, it will end the exemption for hard money/private money loans. After July 1st, anyone who wants to give a loan will need to be licensed. Getting a lender license is no joke, it's a tough process. Lots of rehabbers depending on private/hard money could be in trouble. 

Has anyone else seen this bill, or know what the ramifications will be? Am I reading it wrong? It will be good for the banks and big institutional lenders, not so good for the smaller outfits and the investors depending on them.

Loading replies...