Given today’s interest rates, a highly-leveraged arrangement (where you’re putting 3% or 5% down) probably isn’t going to generate any cash flow, so unless you’re comfortable with injecting money into the deal every month, I’d recommend accumulating more cash before you start investing.Generally speaking, a good place to begin is when you have enough for a 20% down payment, closing costs, and 3 to 6 months of reserves.

We paid $1.775 million for the notes, worked out a modification with the borrower, and received the first 5 monthly payments relatively on time.  

I'm glad to know you received your January payment.

I am financially free (8 digit net worth snd expect to achieve 9 before i die) but never see myself stopping the pursuit of more wealth.  

You’ll also want to know how they handle rent collection and late payments and if they can provide references from other investors they work with.A good investor-friendly agent should have a strong network of professionals like contractors, inspectors, and lenders to help with your investments.

that isn’t subject to higher down payment requirements or higher interest.

For a sample, consider a $295,000 project with a down payment of 5% and a mortgage payment of 7% interest.Good luck!

if you need $200K for a project, no one is going to loan you $200K - you need a down payment, holding costs, and you need to know what you're doing or you'll just turn that $200K into $150K.good luck

I'm under contract for a nice double and was hoping to use part of the money for my portion of the down payment.

Although you have to wait for payment with a 203K loan.