Private loan tied to Property

[Nicholas Mann]

Hey all,

Not sure if this is the right place to post this. But I’ve recently been in contact with a friend who would like me to basically lend private money tied to a property. The home was a flip project that was seller financed and now the seller wants his money out of the deal. I would in turn invest “x” amount of capital and get paid back 10% interest until the property sells. Will equal about $200 a month. Length of the loan is 12 months. I could be wrong but the way it was explained is that i would have the “note” to the Property or would be able to foreclose if the borrower didn’t not pay back. I will have an attorney look it over before signing anything but I was just wondering what people on the forums had to say about this.

Thanks for any help