Apartment Syndications using hard money

[AJ Jordan]

As far as syndications go the big to do is to raise private money through passive investors like doctors lawyers etc. now what if I just used a hard money lender to cover the down payment and rehab followed by a refi obviously having a sponsor sign it with a bigger net worth than yourself. What are your thoughts? Would it work? Would it only work on certain deals maybe way below market value? Or is it simply because people just don’t want that high of an interest rate?

Thanks in advance!