We had another $115k note at 9% with another entity that he lent as well.

I had to call about 200 lenders (no exaggeration) to learn of 4 lenders who lent a certain loan.

I've lent as a hard money lender before (in Ohio).

If you or I lent a 40 year old rocket scientist with a Ph.D a million dollars for a rental property commanding $500/month in rent, and there was no other income, they would call it "predatory lending" at best, and possibly investigate for fraud (for self evident good reasons).Yet somehow it's OK to lend teenagers $200k for degrees with little to no value?

Should I am for just a percent of money lent? A

I just recently lent a $20,000 to a group in return for collateral of 2 or their homes that were already rehabbed and each worth about 25-30,000/home.

Since you will likely only be lent a percentage of the purchase, you will need skin in the game.

In my case the guy would tell me he has not personally taken any money out.. once I get ahold of the books he certainly did not .. but he paid his Nordstrom bill.. and he lent a few hundred grand to other entities of his.. lol.. all the while saying I NEVER TOOK ANYTHING... well he is about to get a big slice of Karma..

Private Lender covers the entire cost of the purchase including down payment, closing costs, rehab, etc... then combine all of that into one lump sum that is lent as a "mortgage"  with a predetermined interest rate.

I have borrowed and lent as a private lender.