Unleveraged realistic LTR cash flow is likely 4% to 5% (closer to 4% in the large coastal CA cities).  

I’ve reached out to over 20 lenders — everything from hard money to business credit lines — and most said “no” until my bankruptcy is discharged or four years past discharge.I’m not looking for personal loans or unsecured business cards — just realistic options for property acquisition or rehab loans where lenders focus on income, deal strength, or collateral value, not just credit history.If you’ve worked with any smaller or more flexible private lenders — even newer companies or individual investors — I’d really appreciate if you could share:Who they are (or at least what type of lender they are)What their approval terms were like (credit requirements, bankruptcy flexibility, etc.)What worked best when approaching them (structure, pitch, documentation, etc.)I know a lot of people in this community have rebuilt after tough seasons — any guidance or names would mean a lot.Thanks in advance for your insight and for helping someone who’s rebuilding the right way.

@David M. my guess is because its an unsecured promissory note.

This is unsecured debt - most likely a zombie second where states are now not allowing collections on.  

if a property appreciates 4%, the return from appreciation on an unleveraged asset is 4% but the return from appreciation on a 80% LTV is 20%I will go so far as to say in the current low cash flow RE market (even high cash flow markets currently have poor cash flow) that there is no reason to invest in passive (residential LTR RE is not passive but is compared to flips, value adds, alternate rent models, etc) RE.  

But here’s the key piece: how you finance it does affect your lending profile.If you take out a contractor loan (often unsecured or high-interest), that monthly payment shows up on your credit report as another liability.

-Most importantly, this are unsecured investments. 

However, there may be no equity after settlement of secured and unsecured creditor claims.

When I checked it out the fund he spoke of was making unsecured working capital loans to businesses with no credit.  

Turn Key space slows down a bunch with Covid and interest rates.. so Norada looking for other income opportunities as well.Boom they meet Norada maybe did not know what they did not know and gets talked into raising money through the Unsecured Notes for Lopez's deals ..