@Wade Wisner -  Most of the notes that we purchase we keep in our portfolio and borrow against them with private capital.

Alternatively, a private or hard money loan could provide faster funding if traditional lending timelines don’t work, with the option to refinance once the build is complete.

Before making any decision, I would get a customized property evaluation by a local Realtor to determine the value of the property on both sides of the spectrum; sale OR rental. 

Private money and personal funds.

Financial Freedom Network I laughed at -- after reading the agreement, no comparable value for that monthly price -- 3 or so years ago, if value has changed now, my time-based disclaimer is as aforementioned -- and Legrand would do well to disconnect FFN from his name, as I believe FFN is now out-sourced, whatever.I empathize with you , Joe and the other responders, but when I read Legrand’s, and most of the other guru’s, contracts prior to trying a teaser product, it clearly stated in the agreement that if customer did not want the upgrade service for which the teaser/free product, free video, whatever, was being given away, then customer must cancel within the stated period of time, which almost always range from 30 to 90 days [60 days is becoming more common, as more folks forget to cancel]So long as terms to cancel are clearly stated prior to contracting, I don’t find it unethical, -- and real estate gurus have merely adapted a teaser or rebate marketing technique used in most every industry -- recently even Chrysler cars [try our minivan for 60 days!

Vendors who partner with Costco pay for market exposure and referrals, which often adds to the final cost passed on to the customer.

I ran my own custom proforma for a bank loan using the asking price that would generate a cap rate over 10% and CoC just under 20%.

The proceeds could be reinvested into something with better returns or even used to simplify your finances(Like Bettment still offer 4.75% for new customers, and you don't need to do anything!).

Or how did you figure out the nuts and bolts of how to do private lending? 

I've been investing in real estate but am new to private lending.