Im not sure the bout everywhere, but in Texas there was a law effective sept 1, 2007 (156.201 License Required) stating that you need to told a brokers license in order to create 5 loans or more, this includes owner financing and hard money loans There are some exemptions (156.202) which state an individual who makes a mortgage loan from the individuals own funds. , also talks about one who does not regularly engage in the business of making or brokering mortgage loans one of our recent REIA's we had a lawyer discussing this, and he kept mentioning how theres alot of gray area, and there has not been any cases where this was brought to court, My undestanding is, if your owner financing the properties, you'd be regularly engaging in the business and could be found guilty. the lawyer wasnt even sure. just dont get caught.

I know of some individuals who don’t roll out of bed for profit less then 20K.

It is also true that the vast majority of newbies fail in a short period of time because they 1) pay too much for their property and lose a bunch of money due to the negative cash flow and 2) they don't understand how to deal properly with tenants.I look at each deal a person posts individually.

What were some of their motivations....Houston has a high crime rate and some of the my easy customers were individuals who had experienced recent breakins or bad experiences in their current neighborhoods.

If I look on mls, there are like 6 of them for sale individually ( all around 60k each).

I assume there are some individuals in this forum that have faced the predicament that I am staring in the eyes...corporate job verse independent investor.

It comes from an individual instead of a bank, but the paperwork is the same.

The government, according to our Constitution cannot modify a signed contract between individuals.

Two very nervous individuals are bidding against one of the most prolific investors in Rochester.

Soap box removed.I run my own crew, am my own management, and so I dodge much of the BS associated with having others manage my wealth.I have been doing a small side business setting up Sect 8 rentals for out-of-town investors...its all individual and negotiable.