Issuing Notes- ? For Commercialking
Hi there, I have been reading through the posts on this subject and you have a lot of good advice/knowledge. You even mentioned writing an article about the subject because it is raised again and again. [Please do!!] Before I seek legal advice, I wanted your thoughts. Based on my recent success with rehabbing and reselling an aquaintance of mine is interested in loaning me money for my next property. I wanted to write up a promissory note with terms and conditions and either secure it or not against the property. There seems to be issues with SEC regulations regarding using private investor money?
No, I think you are pretty clean here. If you wanted to pool 5 of your friends and do a mortgage jointly you might have a problem. But to write a note between two people-- no problem.