Sound advice for an absolute beginner? Try this: STAY OUT OF THE BUSINESS. If you do not know what you are doing, you will loose your shirt.If you really want to try this, work for somebody else who is in the business for a while. You need somebody to train you for this, best to be paid while you are learning. You might find you do not want to be in the business-best to learn that before you sink your money into the venture.
It depends on where you are. For an absolute beginner I d say start very small and go get educated from credible sources instead of asking people on here. You might want to start with some of the peer to peer lending networks. They handle all the details, you just pick which loans you want to fund and how much. Some of them offering webinars and additional training on lending. Email me if you want some links.
I think so, there will be company by Government or BY banking rules, where you can start this type of business..If you have mentioned in which country you are from...It would be more helpful to answer your question
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Go to work for a finance company.
