I'm considering lending money on a flip, need input on rate

[Justin Farrar]

I'm considering lending money for a house flipper to do her thing. 

I would like input on interest rate I should charge.

Here are the details:

THIS WILL BE A SECOND POSITION LOAN behind an 80% loan from private money.

Purchase: $350K

Rehab: $38K

ARV: $450K

Hold time: 3-6 months

Any input is appreciated!

[Chris Mason]

2nd position behind a private 80% 1st position, putting CLTV at what? 90%? 105%? For someone that can't get a normal institutional mortgage? Have you lost your mind?

Not to put too fine a point on it, but there is an old saying: "a fool and their money are quickly parted." You haven't actually done anything so I don't know you to be a fool (& asking a question like this before diving in is certainly not the mark of a fool), but doing what you propose would certainly appear at first glance to be foolish. 

But then again lots of successful entrepreneurs start by being told they are being foolish, so maybe you will prove me dead wrong. But that's my $0.02.