Private Lending - Seeking Advice

[Damien Pulvino]

Good afternoon BP community. Posting this in search of tips and advice in terms of Private Lending. I'm not looking for private lending but seeking counsel on how to protect against risk when providing PL. I am aware that one should always use a promissory note which is vetted by lawyers and signed by the borrower and lender and provide the mortgage of the property to be acquired. I am also aware that it is best to be in a first lien position against the property that one is lending for.

I'm sure there are a myriad of other legal documents that other Private Lenders ask for to provide funds to borrowers. Looking forward to hearing from those who have considerable experience providing private lending.