Hello, my name is Kamarye Hodges and I am a broker, I wish to gain insight and experience. Hopefully I could even provide some sort of value to this group and most definitely do business with some of you. I like to bu...

I first got started in real estate investing working for a real estate private equity firm in NYC.

When my business partner and I were still flipping we bought a couple through Auction.com and we always used a private money lender to fund those and our other flips. 

And they'll want you to pay off the loan pretty soon (and usually will you as the rate will probably be higher than banks) so there's that too.For this reason, we definitely prefer private lenders as they will (if you've built trust with them) often lend on the rehab too.

I'm in a number of social groups for private lenders and have run into a lot of scams.

In our view, experience and integrity are by far the most important parts of any private loan.

Also, a few private lenders or hard money lenders might have some more creative terms for multifamily, especially if you're open to considering that route.

I imagine others don't like that it's in an older condo building without private laundry.

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

Some lenders offer creative solutions, like a cross-collateralized loan, where they use your existing equity as security without refinancing the duplex.Another idea is partnering with private lenders or exploring a second-position mortgage, depending on your lender's terms.