@Kelly SchroederPrivate money for purchase and DSCR loans to refinance out of the private loan.

Quote from @Placeholder Placeholder: Has anyone ever heard of Funding Co Holding, LLC, was In need of hard money loan due to unqualified docs, attempting to purchase potential property with extremely great ROI.

You will pay 10% penalty plus taxes on that money.

My name is Chase Busick, & I started investing in early 2014 while in the military, by aggressively increasing my savings rate (as I am a pretty minimal person) & sacrificing thousands of hours of my time, energy, & money in self education.

What about the perspectice of keeping business separate from personal ?

Quote from @Alycia Scantland: Hi everyone,I’m hoping to get advice from anyone experienced with hard-money lending, distressed projects, or investor defaults.In December 2023, I invested a $80k with a small local investment group for two fix-and-flip projects.I was given a promissory note stating a 3 month turnaround, a 15% fixed return, and additional compensation if the project ran late.They finally contacted me in October 2024 saying the projects had been mismanaged and they were unable to sell both of the properties as planned.They asked me to release my original liens so they could attempt a short sale, and moved my liens onto a different property in Wheat Ridge, near the Denver market for two $49k liens (original loan plus interest incurred) One month later, they informed me they had not started and would not be finishing the project, were considering bankruptcy, and that the property would likely go into foreclosure.They told me the only way I could recover my investment was to take over the project myself.In December 2024, before I ever agreed, they recorded a quitclaim deed transferring the property to me and listed the sale amount as $98k, which was my lien amount on the property, though I never agreed to release those.

I’m seeing a range depending on credit and experience. Curious what you all are observing in your market.If you’re comparing lender terms for a project, I can help break them down.

He couldn’t sign due to credit/net worth and didn’t invest meaningful personal money.

Here’s a recent response: https://www.biggerpockets.com/forums/517/topics/1265597-looking-to-become-a-private-money-lenderI’m frequently asked this question in person, and it’s almost always from those who don’t have enough money to make a first-position loan, especially in Southern California.

Maybe I need to look deeper into hard money options.