How Does Private Money Work With Buy & Hold Real Estate?

[Nathan Walden]

I've watched a few Biggerpockets videos and podcasts and have heard of many people using private money for real estate deals. When looking at private money loans, I see a lot of people using them for flips and not buy and hold. I know what private money is so thankfully I don't need an explanation. However I could use an explanation as to how private money loans are structured for buy and hold. What is the typical interest rate, loan term, etc.? I can get clear answers to how fix and flips work with private money but can't get good answers for buy and hold to save my life.