Anyone heard about HR 1728

[Eugene]

The objective of this requirement is to prohibit unlicensed two-in-one RE investor / lender companies that flip properties and provide neg-am/NINJA financing to their buyers at the same time, without being subject to the same oversight as a real lender would be.

SK in CV is right, if you want to do business as a lender, come forward and declare yourself a lender.

[socrattt]

[quote=SK in CV]

I’m in the business of business, and have been for more than 30 years. As related to real estate, I’ve been a buyer, a broker, a builder, a developer, a manager, a lender, and a consultant to others doing all those things. Some of them aren’t simple. And if this bill passes, lending may be a bit more complicated for some.

A couple points on your comment. When you are “looking for createive ways to move land that [you] aren’t utilizing for projects”, then you aren’t in the business of an alternative energy developer anymore. You’re doing something else. That “something else” may require that you gain or hire expertise that isn’t required as part of your “alternative energy developer” business.

You made my point precisely. You want to be in the lending business, but you don’t want to follow the rules that licensed lenders must follow. There are alternatives. Sell using traditional financing. Or acquire the expertise needed to do business as a lender. I’m quite sure the RE brokers here wouldn’t be real sympathetic to you acting as both principle and broker in your deals without the required licensing. Why should lending be any different?

And your last sentence….the “socialist society”. Sure has become a popular tag line, but as is often the case, it has no relevance. It’s just a dirty word to throw at an idea you don’t like. I’m much more of a libertarian capitalist than a socialist. But I have my limits. Too much free market without oversight created much of the economic problems we face. Regulation is not synonymous with socialism. In a complex economy, it is a cost of doing business.[/quote]

I personally don’t think you see the big picture. Let’s focus on my joint venture projects that “I am utilizing the land”. Should I honestly apply for a license in all 50 states, just in case I work on a project with a number of different companies that are tied to corps in different states? SK, feel free to admit that some portions of this bill don’t make sense at all. How would we be referred to as a predatory lender?

If you really want to get technical then sure we are lenders, but in terms of what we do it has nothing to do with the lending world. We are simply using creative ways to help grow and expand our business. That is the key problem here, we are destroying creative thinking. There still has to be room for money to be made and controlling everything (not just regulating), as the current administration is doing, just doesn’t work.

Your mention of socialism as a tag line is a joke. How can you say that? Do you have a lack of understanding of how much support our government is giving to the very people that destroyed our economic system, i.e. banks, etc… Don’t tell me that socialism is a tag line because it’s real and it’s rampant!! Wake up SK, you might need to step out of the CV bubble your are in!!!

[socrattt]

[quote=SK in CV]

I’m in the business of business, and have been for more than 30 years. As related to real estate, I’ve been a buyer, a broker, a builder, a developer, a manager, a lender, and a consultant to others doing all those things. Some of them aren’t simple. And if this bill passes, lending may be a bit more complicated for some.

A couple points on your comment. When you are “looking for createive ways to move land that [you] aren’t utilizing for projects”, then you aren’t in the business of an alternative energy developer anymore. You’re doing something else. That “something else” may require that you gain or hire expertise that isn’t required as part of your “alternative energy developer” business.

You made my point precisely. You want to be in the lending business, but you don’t want to follow the rules that licensed lenders must follow. There are alternatives. Sell using traditional financing. Or acquire the expertise needed to do business as a lender. I’m quite sure the RE brokers here wouldn’t be real sympathetic to you acting as both principle and broker in your deals without the required licensing. Why should lending be any different?

And your last sentence….the “socialist society”. Sure has become a popular tag line, but as is often the case, it has no relevance. It’s just a dirty word to throw at an idea you don’t like. I’m much more of a libertarian capitalist than a socialist. But I have my limits. Too much free market without oversight created much of the economic problems we face. Regulation is not synonymous with socialism. In a complex economy, it is a cost of doing business.[/quote]

I personally don’t think you see the big picture. Let’s focus on my joint venture projects that “I am utilizing the land”. Should I honestly apply for a license in all 50 states, just in case I work on a project with a number of different companies that are tied to corps in different states? SK, feel free to admit that some portions of this bill don’t make sense at all. How would we be referred to as a predatory lender?

If you really want to get technical then sure we are lenders, but in terms of what we do it has nothing to do with the lending world. We are simply using creative ways to help grow and expand our business. That is the key problem here, we are destroying creative thinking. There still has to be room for money to be made and controlling everything (not just regulating), as the current administration is doing, just doesn’t work.

Your mention of socialism as a tag line is a joke. How can you say that? Do you have a lack of understanding of how much support our government is giving to the very people that destroyed our economic system, i.e. banks, etc… Don’t tell me that socialism is a tag line because it’s real and it’s rampant!! Wake up SK, you might need to step out of the CV bubble your are in!!!

[socrattt]

[quote=SK in CV]

I’m in the business of business, and have been for more than 30 years. As related to real estate, I’ve been a buyer, a broker, a builder, a developer, a manager, a lender, and a consultant to others doing all those things. Some of them aren’t simple. And if this bill passes, lending may be a bit more complicated for some.

A couple points on your comment. When you are “looking for createive ways to move land that [you] aren’t utilizing for projects”, then you aren’t in the business of an alternative energy developer anymore. You’re doing something else. That “something else” may require that you gain or hire expertise that isn’t required as part of your “alternative energy developer” business.

You made my point precisely. You want to be in the lending business, but you don’t want to follow the rules that licensed lenders must follow. There are alternatives. Sell using traditional financing. Or acquire the expertise needed to do business as a lender. I’m quite sure the RE brokers here wouldn’t be real sympathetic to you acting as both principle and broker in your deals without the required licensing. Why should lending be any different?

And your last sentence….the “socialist society”. Sure has become a popular tag line, but as is often the case, it has no relevance. It’s just a dirty word to throw at an idea you don’t like. I’m much more of a libertarian capitalist than a socialist. But I have my limits. Too much free market without oversight created much of the economic problems we face. Regulation is not synonymous with socialism. In a complex economy, it is a cost of doing business.[/quote]

I personally don’t think you see the big picture. Let’s focus on my joint venture projects that “I am utilizing the land”. Should I honestly apply for a license in all 50 states, just in case I work on a project with a number of different companies that are tied to corps in different states? SK, feel free to admit that some portions of this bill don’t make sense at all. How would we be referred to as a predatory lender?

If you really want to get technical then sure we are lenders, but in terms of what we do it has nothing to do with the lending world. We are simply using creative ways to help grow and expand our business. That is the key problem here, we are destroying creative thinking. There still has to be room for money to be made and controlling everything (not just regulating), as the current administration is doing, just doesn’t work.

Your mention of socialism as a tag line is a joke. How can you say that? Do you have a lack of understanding of how much support our government is giving to the very people that destroyed our economic system, i.e. banks, etc… Don’t tell me that socialism is a tag line because it’s real and it’s rampant!! Wake up SK, you might need to step out of the CV bubble your are in!!!

[socrattt]

[quote=SK in CV]

I’m in the business of business, and have been for more than 30 years. As related to real estate, I’ve been a buyer, a broker, a builder, a developer, a manager, a lender, and a consultant to others doing all those things. Some of them aren’t simple. And if this bill passes, lending may be a bit more complicated for some.

A couple points on your comment. When you are “looking for createive ways to move land that [you] aren’t utilizing for projects”, then you aren’t in the business of an alternative energy developer anymore. You’re doing something else. That “something else” may require that you gain or hire expertise that isn’t required as part of your “alternative energy developer” business.

You made my point precisely. You want to be in the lending business, but you don’t want to follow the rules that licensed lenders must follow. There are alternatives. Sell using traditional financing. Or acquire the expertise needed to do business as a lender. I’m quite sure the RE brokers here wouldn’t be real sympathetic to you acting as both principle and broker in your deals without the required licensing. Why should lending be any different?

And your last sentence….the “socialist society”. Sure has become a popular tag line, but as is often the case, it has no relevance. It’s just a dirty word to throw at an idea you don’t like. I’m much more of a libertarian capitalist than a socialist. But I have my limits. Too much free market without oversight created much of the economic problems we face. Regulation is not synonymous with socialism. In a complex economy, it is a cost of doing business.[/quote]

I personally don’t think you see the big picture. Let’s focus on my joint venture projects that “I am utilizing the land”. Should I honestly apply for a license in all 50 states, just in case I work on a project with a number of different companies that are tied to corps in different states? SK, feel free to admit that some portions of this bill don’t make sense at all. How would we be referred to as a predatory lender?

If you really want to get technical then sure we are lenders, but in terms of what we do it has nothing to do with the lending world. We are simply using creative ways to help grow and expand our business. That is the key problem here, we are destroying creative thinking. There still has to be room for money to be made and controlling everything (not just regulating), as the current administration is doing, just doesn’t work.

Your mention of socialism as a tag line is a joke. How can you say that? Do you have a lack of understanding of how much support our government is giving to the very people that destroyed our economic system, i.e. banks, etc… Don’t tell me that socialism is a tag line because it’s real and it’s rampant!! Wake up SK, you might need to step out of the CV bubble your are in!!!

[socrattt]

[quote=SK in CV]

I’m in the business of business, and have been for more than 30 years. As related to real estate, I’ve been a buyer, a broker, a builder, a developer, a manager, a lender, and a consultant to others doing all those things. Some of them aren’t simple. And if this bill passes, lending may be a bit more complicated for some.

A couple points on your comment. When you are “looking for createive ways to move land that [you] aren’t utilizing for projects”, then you aren’t in the business of an alternative energy developer anymore. You’re doing something else. That “something else” may require that you gain or hire expertise that isn’t required as part of your “alternative energy developer” business.

You made my point precisely. You want to be in the lending business, but you don’t want to follow the rules that licensed lenders must follow. There are alternatives. Sell using traditional financing. Or acquire the expertise needed to do business as a lender. I’m quite sure the RE brokers here wouldn’t be real sympathetic to you acting as both principle and broker in your deals without the required licensing. Why should lending be any different?

And your last sentence….the “socialist society”. Sure has become a popular tag line, but as is often the case, it has no relevance. It’s just a dirty word to throw at an idea you don’t like. I’m much more of a libertarian capitalist than a socialist. But I have my limits. Too much free market without oversight created much of the economic problems we face. Regulation is not synonymous with socialism. In a complex economy, it is a cost of doing business.[/quote]

I personally don’t think you see the big picture. Let’s focus on my joint venture projects that “I am utilizing the land”. Should I honestly apply for a license in all 50 states, just in case I work on a project with a number of different companies that are tied to corps in different states? SK, feel free to admit that some portions of this bill don’t make sense at all. How would we be referred to as a predatory lender?

If you really want to get technical then sure we are lenders, but in terms of what we do it has nothing to do with the lending world. We are simply using creative ways to help grow and expand our business. That is the key problem here, we are destroying creative thinking. There still has to be room for money to be made and controlling everything (not just regulating), as the current administration is doing, just doesn’t work.

Your mention of socialism as a tag line is a joke. How can you say that? Do you have a lack of understanding of how much support our government is giving to the very people that destroyed our economic system, i.e. banks, etc… Don’t tell me that socialism is a tag line because it’s real and it’s rampant!! Wake up SK, you might need to step out of the CV bubble your are in!!!

[SK in CV]

[quote]Blah, blah, blah
[/quote]

Let’s focus on your joint ventures. If you’re lending in all 50 states, YOU ARE A LENDER! If your JV projects include seller financing, YOU ARE A LENDER! It might not be your main business, but if you want to do it, you have to follow the rules. Just like retailers who offer in house financing have to follow consumer financing rules. Just like lawyers who provide escrow services have to follow rules. It doesn nothing to destroy creative thinking. Go create all you want. But if it’s a significant part of your business, then why on earth wouldn’t you want to gain the expertise to do it correctly? Why fight it?

And you’re going to have to explain to me how “socialism” fits into this discussion. It doesn’t. This is about consumer protection, not redistribution of resources. Nor does the “socialism” tag fit giving support to the banks and financial institutions which were part and parcel to the economic crisis. When government is all about big business, that would be facism, not socialism. But apperently socialism has a better ring to it, so keep using it, whether it fits or not.

[SK in CV]

[quote]Blah, blah, blah
[/quote]

Let’s focus on your joint ventures. If you’re lending in all 50 states, YOU ARE A LENDER! If your JV projects include seller financing, YOU ARE A LENDER! It might not be your main business, but if you want to do it, you have to follow the rules. Just like retailers who offer in house financing have to follow consumer financing rules. Just like lawyers who provide escrow services have to follow rules. It doesn nothing to destroy creative thinking. Go create all you want. But if it’s a significant part of your business, then why on earth wouldn’t you want to gain the expertise to do it correctly? Why fight it?

And you’re going to have to explain to me how “socialism” fits into this discussion. It doesn’t. This is about consumer protection, not redistribution of resources. Nor does the “socialism” tag fit giving support to the banks and financial institutions which were part and parcel to the economic crisis. When government is all about big business, that would be facism, not socialism. But apperently socialism has a better ring to it, so keep using it, whether it fits or not.

[SK in CV]

[quote]Blah, blah, blah
[/quote]

Let’s focus on your joint ventures. If you’re lending in all 50 states, YOU ARE A LENDER! If your JV projects include seller financing, YOU ARE A LENDER! It might not be your main business, but if you want to do it, you have to follow the rules. Just like retailers who offer in house financing have to follow consumer financing rules. Just like lawyers who provide escrow services have to follow rules. It doesn nothing to destroy creative thinking. Go create all you want. But if it’s a significant part of your business, then why on earth wouldn’t you want to gain the expertise to do it correctly? Why fight it?

And you’re going to have to explain to me how “socialism” fits into this discussion. It doesn’t. This is about consumer protection, not redistribution of resources. Nor does the “socialism” tag fit giving support to the banks and financial institutions which were part and parcel to the economic crisis. When government is all about big business, that would be facism, not socialism. But apperently socialism has a better ring to it, so keep using it, whether it fits or not.

[SK in CV]

[quote]Blah, blah, blah
[/quote]

Let’s focus on your joint ventures. If you’re lending in all 50 states, YOU ARE A LENDER! If your JV projects include seller financing, YOU ARE A LENDER! It might not be your main business, but if you want to do it, you have to follow the rules. Just like retailers who offer in house financing have to follow consumer financing rules. Just like lawyers who provide escrow services have to follow rules. It doesn nothing to destroy creative thinking. Go create all you want. But if it’s a significant part of your business, then why on earth wouldn’t you want to gain the expertise to do it correctly? Why fight it?

And you’re going to have to explain to me how “socialism” fits into this discussion. It doesn’t. This is about consumer protection, not redistribution of resources. Nor does the “socialism” tag fit giving support to the banks and financial institutions which were part and parcel to the economic crisis. When government is all about big business, that would be facism, not socialism. But apperently socialism has a better ring to it, so keep using it, whether it fits or not.

[SK in CV]

[quote]Blah, blah, blah
[/quote]

Let’s focus on your joint ventures. If you’re lending in all 50 states, YOU ARE A LENDER! If your JV projects include seller financing, YOU ARE A LENDER! It might not be your main business, but if you want to do it, you have to follow the rules. Just like retailers who offer in house financing have to follow consumer financing rules. Just like lawyers who provide escrow services have to follow rules. It doesn nothing to destroy creative thinking. Go create all you want. But if it’s a significant part of your business, then why on earth wouldn’t you want to gain the expertise to do it correctly? Why fight it?

And you’re going to have to explain to me how “socialism” fits into this discussion. It doesn’t. This is about consumer protection, not redistribution of resources. Nor does the “socialism” tag fit giving support to the banks and financial institutions which were part and parcel to the economic crisis. When government is all about big business, that would be facism, not socialism. But apperently socialism has a better ring to it, so keep using it, whether it fits or not.

[socrattt]

[quote=SK in CV] I live in a bubble, please help me!!![/quote]

SK, you should be a politician!! You’ll make an excuse for everything and make the context fit just perfect for any occasion.

According to you, you wrote the definition of facism and socialism, so why argue? I refuse to waste my time with someone who seems to know everything!!! Last I checked donating to the banks while controlling the funds disbursed seems to be socialism, but what I do I know? You are the kind of human that will argue your point until you win and the other guy backs down!! I don’t have time, which you obviously do. I am trying to win an uphill battle against a new agenda, which involves work. My creativity is slowly dying thanks to a mindset like yours and Nancy Pelosi!!

[socrattt]

[quote=SK in CV] I live in a bubble, please help me!!![/quote]

SK, you should be a politician!! You’ll make an excuse for everything and make the context fit just perfect for any occasion.

According to you, you wrote the definition of facism and socialism, so why argue? I refuse to waste my time with someone who seems to know everything!!! Last I checked donating to the banks while controlling the funds disbursed seems to be socialism, but what I do I know? You are the kind of human that will argue your point until you win and the other guy backs down!! I don’t have time, which you obviously do. I am trying to win an uphill battle against a new agenda, which involves work. My creativity is slowly dying thanks to a mindset like yours and Nancy Pelosi!!

[socrattt]

[quote=SK in CV] I live in a bubble, please help me!!![/quote]

SK, you should be a politician!! You’ll make an excuse for everything and make the context fit just perfect for any occasion.

According to you, you wrote the definition of facism and socialism, so why argue? I refuse to waste my time with someone who seems to know everything!!! Last I checked donating to the banks while controlling the funds disbursed seems to be socialism, but what I do I know? You are the kind of human that will argue your point until you win and the other guy backs down!! I don’t have time, which you obviously do. I am trying to win an uphill battle against a new agenda, which involves work. My creativity is slowly dying thanks to a mindset like yours and Nancy Pelosi!!

[socrattt]

[quote=SK in CV] I live in a bubble, please help me!!![/quote]

SK, you should be a politician!! You’ll make an excuse for everything and make the context fit just perfect for any occasion.

According to you, you wrote the definition of facism and socialism, so why argue? I refuse to waste my time with someone who seems to know everything!!! Last I checked donating to the banks while controlling the funds disbursed seems to be socialism, but what I do I know? You are the kind of human that will argue your point until you win and the other guy backs down!! I don’t have time, which you obviously do. I am trying to win an uphill battle against a new agenda, which involves work. My creativity is slowly dying thanks to a mindset like yours and Nancy Pelosi!!

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