I knew a couple of Sicilian guys that lent money when I was a kid. Their collection department employed a lot of very big guys.
@DarrenVoros2 жыл бұрын
Haha. Everyone has their own system they like to use.
@MyTechniqueWorks Жыл бұрын
@@DarrenVoros Hi Darren, what's the main reason that Traditional Lending business is not recommended? Is it because of too many rules/regulations etc? Like I live in State of Virginia. It says to have atleast $200,000 in funds in order to start traditional lending business. I do have that and I do know how to apply for lender license in Virginia. But I do not know anything else. Is it still recommended to do private lending instead of traditional lending?
@catchapatcha2 жыл бұрын
Beautiful! So much information, clear AND ordered! What is the general minimum amount to start lending?
@ghlu76944 ай бұрын
Hi Darren, Can I use the money I have in my TFSA for private lending. Do I need to incorporate my company? How would CRA treats the interest earned as it is being earned on the funds from TFSA?
@ComJShepN72 жыл бұрын
Hey Darren! How much cash would you need to start doing private lending? It's something I might do in the future after I have more properties and am curious what it takes to get started.
@DarrenVoros2 жыл бұрын
There's really no minimum amount. But to register a mortgage on a property, most of the time you'll need to be in that $50k range for it to make sense.
@Xterminatorr8 ай бұрын
Hello, I have a very important question about this. Its about my entrepreneurship class. How much equity should I offer for $50,000 to start a mortgage money lending business? This is just a project but I need a realistic stake.
@eschrader2 жыл бұрын
You look like the new bachelor host
@DarrenVoros2 жыл бұрын
Haha thanks. I'll be honest, I've never seen an episode but I'll take your word for it.
@loopzmelendez38915 ай бұрын
Does this apply to commercial lending as well??
@DanielCastro-hl7vv4 ай бұрын
Does a license is required for hard money lending?
@yolandasalazar286310 ай бұрын
Hi Darren! I have been a hard money lender as of Jan 2023 I have made about $35 k IN INTEREST so far, how does this income get reported? I lend via LLC.
@theindivisible6 ай бұрын
interest income. talk to your accountant
@ahmedibrahim30922 жыл бұрын
Hi Darren, the interest collected from private lending, how is it taxed?
@LuG8911 Жыл бұрын
As income
@ritahogikyan8560 Жыл бұрын
👍👍👍
@DarrenVoros Жыл бұрын
Thanks for watching!
@JU1887 ай бұрын
Please learn how to pronounce the word that your entire video is about