What's a fair interest rate for an investor?

[Jeffery Morgan]

What do some of you see as a fair interest rate to pay an investor to be a passive investor and provide private debt equity for a single family build? I will raise say 25% of what I need from private investors on a promissory note. The other 75% I can get from a construction lender. I was thinking about offering 9% to the investors on a 1 year term. Any thoughts or recent money deals?