hard money loan used as downpayment for bank loan (new constructi

[Dana Yobst]

Hi, i'm new to hard money lending and am considering a deal where I'd loan 150k (gated for land purchase, arch plans, grading, foundation).   Once the bank loan goes through I would be second position which I know is not ideal.  I've tried to make sense of NC foreclosure laws and figure out if I would have a right to pay out the bank in the case of foreclosure but it appears more like the bank would foreclose and if there was enough money, my debt would be repaid. 

Is this a foolish loan?  Could I use other real property not involved in the loan to act as collateral once I move to second position or from the beginning?