I’m frustrated and getting mixed suggestions from family/friends who think they are experts with no skin in the game.

The tenants have skin in the game so wont mess up (e.g., not pay rent).I'm sure you'll get it rented soon; but just wanted to share an outside-the-box option that was successful for me.

This would seem to have a negative impact on historic districts by increasing density and adversely affecting parking (many historic homes, at least in my area, do not have adequate parking/garages to begin with -- this will just exacerbate the issue, putting more cars on the street).We're also in the unique position of having a University within the community that currently only houses approximately 40% of their students, putting tremendous pressure on the local, mostly historic, housing stock.

So it's pretty risky to put loans out solely on relationship with no skin in the game.

I'm a loan officer and I cant do a loan in NC but in Michigan we could get you a much lower rate with that much skin in the game on any investment deal

And most will be able to pay the taxes when they come due, and put on a new roof, and put on a new coat of paint.As well as replace the carpets, cut the grass on a regular basis, replace the windows, reseal the chimneys when the liners crack, etc..It's unlikely that that these homes will fall into the slum category in 10 years or so, and make the asset underlying the loan virtually worthless.Or just vanish when the place starts to fall apart too much, due to no down-payment (no skin in the game 100% loans).Said the lawmakers who approved this.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

If possible find a local partner that can potentially put some skin in the game. that local partner can then become your eyes and ears on the ground2.

You interest rate may be higher, if you have less of your own skin in the game.

The borrowers had no skin in the game and many ended up being crooks and setting up fraudulent deals.