They finally get back to me after the close date to say they need more time because they are try to cross collateralize their other properties to make this deal happen and the bank they were using doesn't do this kind of loan. 

Quote from @Giovanni Vazquez: Hello BP community, I finally bought my first duplex thanks to my phenomenal realtor Adam King in July 2024. 

A relative who does long-distance real estate investing told me that I have to sign the final loan document and the transfer of ownership document in person.

The Note/Mortgage for each loan states the dollar amount invested & the % of the total loan by name, for each investor. 

Financed Loan Amount: $172,0004.

Been looking at hard money loans, and also looking at doing a 401K loan from my w-2 job. 

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

Doing an unsecured loan is a horrible idea. 

Gaining knowledge about investor loans, like DSCR loans, can be particularly beneficial.

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)?