Starting A Hard Money Business
I have been approached by several people at my local REI Meeting to open as a HML. I do not know all of the stepd involved. I do know that under Pa. law I would qualify to be a lender. I have been an owner of a Broker company, right now it is classified as an inactive office. I just need to renew the licenses.
I have also been approached to invest my money with someone else's company that does HML. I am very conservative, have very little debt, and many assets.
I have done private investing on a short term basis (one to two weeks). I have read on here where people get up to 12% return on this kind of money. Is it true?
Since I've been in this business for so long I've seen "massaged" returns, real returns, and no returns. So I am a little skeptical.
I would like to hear from anyone that has had success or that hasn't..
"They" want to show me proof but "documents" I've learned are easy to produce.
Any advise or comments would be appreciated.
Lori
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