Posted by John Merchant on October 14, 2009 at 14:34:23:
In Reply to: Selling Trust Deed Investments posted by Mike on June 24, 2009 at 08:25:34:
Your state Securities Commission/Agency might say this is illegal sale (or sales efforts)of unregistered and non-exempt securities and therefore not to be done.
So I'd recommend you go to and spend some time talking to one of that agency's professional staff to get his/her opinion as to whether you can do this and if so, how to proceed.
It's just recently been in Seattle news that a very well known and prominent local RE developer and investment hotshot,(a la Mahloof, the guy in NYC, however it's spelled), is in trouble and under our Sec. Division for doing the same thing and has taken in more than $100M in investors' funds and now is in trouble financially too because he's not been paying out as promised.
These things have a bad habit of becoming Ponzi schemes and that's what the states' sec. div. try to head off and shut down before lots of people get hurt.