I have a loan from a friend that is for 13,500 at 5% (monthly) so 60% APR. So been paying 675 a month and still haven't paid any principal down. I asked if we can renegotiate to a apr with a term so I could eventually pay off he said no. I cant afford much more than 675 a month, and dont want to keep paying that amount for rest of my life.

Thank you Rocky.. Can you explain how we can get Table Funding and how Peerstreet really works?.. I'm small hard lender, but I need to escalate my business. Thanks in advance!

Hi Rocky, that was excellent content, you asked the right questions for sure. i’ve been a full-time real estate investors for 25 years and I’m now looking to slow down a little bit and become a hard money lender, can you please get me in touch with some good lenders in the inland empire to do business with? Thanks much! Richard

This video really helped me. I had a question you mentioned in the video that the cap in California is 10% on hard money lending if the loanstarted at 14% and then. It went up to 30% because of a default meaning it. Is that part of the user law in california thank you

HI Rocky! I live in California and starting to lend private money. I have my DFPI license and work as a mortgage loan officer already for the last 8 years. Does this make me exempt form Usury laws? Do i have to pay myself origination in a transaction to be exempt? I DO NOT have my DRE brokers license but would consider getting it so I can keep clear of Usury laws. Thank you so much!

Rocky - if the lender is from California - but property is in NJ - should the Usury laws be applicable to NJ Where the property is located, not where the lender is located? i Have a client whose loan has matured, is in the process of being paid off - but is getting hit with an annual 45% default rate - i just read the note and mortgage from the original purchase closing - and all the Docs say laws of California - though its a NJ Property that is financed and it closed with a NJ Settlement office - Thanks