First private lender found

[Michael Bertsch]

I would greatly appreciate a little insight from some of you experienced guys. Today, I found my first private lender. He is a very successful surgeon. I have know him for many years. He has given me full access to much of his capital. I can buy SFR, multi families, and anything that will yield a nice return. They can be amortized the full 30 years if I like. He wants LIBOR +2 points. The variable rate makes me a little nervous. What do you guys think?