We currently own several properties free and clear and are frequently encountering new opportunities in our niche.
We would like to borrow money from private investors - essentially as a mortgage/note that will be secured by the property and recorded with the city. The mortgage/note will be to our LLC that owns the property, we would personally guarantee the loan.
The potential investors that we target are “friends”/acquaintances, etc. - very rarely complete strangers. And we only concentrate our efforts within the same state that we work/live/operate.
Having said all that, we want to make sure that we don’t break any laws regarding the solicitation of private investment.
Is there a certain place where I could read upon on applicable laws/regulations?
Thanks for any help/suggestions.