question about being a hard money lender
Hello, I have fixed and flipped about 6 properties, done a few mortgage wraps and I have an opportunity through a broker to lend 100k to a borrower to purchase a great rental property at 12% 60 months interest only. I would purchase the rental unit myself if the borrower didn't have it under contract. I have done all my homework and it looks like an easy deal, and I don't have to deal with any problems. I am working with a reputable broker and can't see any negatives in this for me. What is your opinion #1 on things I should be looking out for and #2 am I better off to continue to loan money for other people to fix and flip properties rather than do all the work myself?