Question about the new Dodd-Frank rule

General Real Estate Investing
1

Hi,

I have a question about the new Dodd-Frank Bill. I am a big proponent of seller financing. The Dodd-Frank bill makes that much more complicated. I know that there are ways around it. I am not opposed to getting my MLO license, but currently do not have the time to do so.

My main question is about LLC’s. Do they follow the same rules of individuals. Can I create an LLC for every 3 seller financing deals that I do? Would that get around the rule? I know that there are options with Joint Ventures, Subject 2 and LO as well, which I would love to here more about.

I was just wondering if the LLC is considered a separate entity in the eyes of the law and if the limit of 3 properties could be limited to that entity.

Thanks in advance for your help with this question!

All of my best,

puregold

2

I am just guessing here. Since state law that implemented the provisions of the SAFE Act may be different for each state, a local real estate attorney is probably the best source to determine how you may be impacted by the SAFE Act and any amendments contained in the new Dodd-Frank.