Private Lending Questions

[Carlos Oliva]

Is private lending as simple as it sounds or are there regulations to follow. 

For example, can I simply let a friend borrow $25k & get paid back with some interest or is there some reporting & rules involved before engaging in such practices?

[Chris Seveney]

@Carlos Oliva

Depends on the state and the use of funds, but typically it’s as easy as it sounds. When it gets fun is when they don’t pay you back - then the lawsuits start flying