Do I have enough money to start private lending for fix and flips?

[Ivan Castanon]

Hello all!

I am currently reading books and educating myself about private lending. I am interested in jumping in, but I am not sure if I have enough money. I have $110k ready to invest in Florida. I would like to fund a fix and flip deal with a first lien position in Florida. 

Is this reasonable or do I need more money? I know that I should try to stay at 60% - 70% LTV. But is this possible with my current capital? Is this LTV based on ARV or the purchase price?

If I don't have enough for a first position lean, is it even worth it getting second positon liens?

Thank you!