Private Money Lender

[Patrick Ellis]

I answered an add to a party looking for a small loan saying they would pay back at 100% return on investment.  I told the person I would like to meet up with them because I was really looking to partner with someone in hopes that I could learn the business of real estate investing.  They went on to show me pictures of homes that they were working on and to me they looked real good.  After texting back and forth we are setting up a meeting for some time in the near future.  My concern is how can I tell if the person is legit? I started wondering why someone that has done around 4-5 flips would be needing a small loan to begin with.  Also if I do find that they are legit how do I go about making sure they would really pay me back?  Do I put a lien on the property and will I need to do this through an attorney?  If anyone has ever done this type of loan and has some good advice I would greatly appreciate your input.  Thank you very much.