They will lend the money if you personally guarantee the loan.  

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

HUD and Agency financing is another beast compared to conventional or non-bank lending (Secondary Market).

Then after that, Fannie will lend on up to 10 for any one investor.

I'm an experienced builder and developer looking to network with other developers, investors, and syndicators. 

If you were only going to net 10k and the fees male you a lose then it was never a good deal.If you keep project costs less than 72.5% of the ARV then no lending can screw you. 

There is a lot more state regulations and lending laws change when 5 units or great.

Anyone viewing the property make sure they are property vetted with lending in place. 

ThanksDan there are people who do "Gator" lending which is a guru course taught about this type of lending.

Several people that pitched me on real estate partnerships & syndication over the last decade are now broke, in prison or being sued.Growth Equity in Chicago is one & fortunately like with Steve Down I steered clear of them!