Real Estate Investing as We Know it is About to Change Forever!
You can help STOP the Legislation that will Kill Florida’s Economic Engine
Take action now to preserve Private Lending and keep our real estate industry the pride of America!
Simply Google “email the Governor” and you will be taken to his email Message page.
Or you can call the Governor and leave a message –
850-717-9249 or 850-488-5603
The real estate industry is facing a financial crisis which most investors are unaware of.
As in almost every state Business to Business loans have been EXEMPT from regulation because homeowners are not involved.
The providers and beneficiaries of these Private Loans are considered sophisticated investors by national standards and are exempt from the strict mortgage lending standards by banks.
So who are Private Money Lenders?
Literally, thousands of retired individuals, Pensions Plans, Self-directed IRAs, teachers, firemen, police officers and retired military personnel just to name a few!
These people and so many others cannot get enough income from their savings in banks to even subsist in many cases.
To make $20,000 a year in their retirement plans they can run the risk of investing in the stock market, but that is coming to an end after a nine (9) year unabated run.
To make $20,000 they would need $2,000,000 in bank savings account in a CD with a 1% yield.
What many have opted to do is invest their savings into real estate.
As an example of $200,000, they can get at least an 8% to 10% return or, in many cases, even more.
For this reason, maybe, just maybe, it’s the banks who want to have Private Lending wiped out…
Don’t allow HB 935 to pass the Senate and if it does please contact Governor Scott’s Office to Veto this obscene legislation!
Don’t allow uninformed politicians to take money from needy individuals just to send more money to predatory hard money lenders and back to banks…
Speak up and speak out because your next real estate funds could be VERY EXPENSIVE!
That 8% to 10% return takes money out of the pockets of predatory hard money lenders who charge as much as 5+ points, 18%+ and obscene junk fees!
Almost as soon as HB 935 passed the House of Representatives I heard from regular hard money borrowers that their rates have been suddenly raised and just days before closing their needed loans.
Our highest praises to Representative Ingoglia who sponsored HB 747 last year and said he would not introduce it again.
He lived up to his word…
However, Representative Nunez introduced HB 935 this year with the SAME LANGUAGE as last year’s HB 747.
To quote an insider in the political system,
“You have to wonder what’s going on. Why bring back a vetoed bill, or has a quiet understanding been reached?”
Real Estate Investing as We Know it is About to Change Forever! #buy #homes in the #USA #realestate
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