Bought the first lien note on a auto service repair facility for 30% discount, did a deed in lieu with the tenant/owner/borrower, and a long term lease back providing a 20% annual return 3N3.

Allowing you to borrow money at a cheaper cost.

Not 30 days later or 60 days later when you go find the money or borrow it.Every jurisdiction is a little different as to how things work, but typically you won't be able to borrow your way into tax lien/deed investing unless you are borrowing against other assets you have like life insurance, home equity, 401k, stock margins, or some other hard asset.   

The other aspect is identifying what I call "Ugly Inventory" so that you find homes that can still pass an appraisal and not be "Subject to" so that you can do some TLC with repairs/renovations to borrow off of the ARV.

Since the borrower had already signed on for $3 million, this was not an increase to make a deal happen, simply Peerstreet personal operating without any understanding of the loan industry and having no intent to listen to the consultant they hired and paid for.Anyway, Peerstreet made the $4.8 million loan, less than one year later it was in default.  

They do not tell you to check if the borrower has other assets that you can claim.

—> Ideas to get cash: Save, sell something, borrow against your retirement account, work another job, ask for seller financing, start a side gig and grow that.

Being an absentee borrower might put you out with a lot of local banks/CUs. 

Also know that some LLC setups can make it very hard to borrow, which is something to talk to lenders about before you make your decision on what to do.Good Luck!

The closing date is the date means when you close and when payments from the borrower would transfer hands.