Before that date all is understood.

The private “hard” money loan terms must be understood first.

The documentation states that I should send a letter to the original owner informing them that I purchased the lien and also the amount that will be owed to me, Some of the percentages I understood, some were a little confusing. 

He told me if these were normal loans then i could probably get away with it, because they are secured differently from what i understood talking with him.

There can be a huge chain of events that unfold when rehab costs are not understood from the beginning. 

I'm aware of how uninformed I sound but I'm ready to sit down, read however many hours of books need to be read, study any bit of contract law that needs to be understood, and essentially do whatever it takes to succeed.

@Dan Handford understood on the syndication point.

Just making sure i understood correctly.

@Andrew Postell Understood.

I get that a HML company manager can do pretty well if he raises significant amounts of money from investors, but for the investors themselves i've never understood why they would lend money (often small amounts below 500k) for high risk projects and junior position even for 10%.