On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.

It might be an improvement over TikTok influencers and self-proclaimed gurus, but not by much.

When you get to rural areas, even in Tuscany, you need to more risk-adverse as the property value might not increase, unless you have another operating business on it like a boutique hotel or vineyard, that you can blast social media influencers to get more people to come.

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

Or did joint ventures with people and next thing you know has $2M in judgments against them, which you can say deals go bad but still have not found someone who made money working with this person... meanwhile they sell $15k training courses.What I would say is the money is made from being a social media influencer.

Humans are highly influenced by recency bias thus the cash vs equity conversation swings back and forth.

I'd say everything else is the consequence of the 2 points above - the weather and the state of economic affairs influences everything else, including safety, infrastructure, the condition of housing stock, etc.

I actually read one of your posts on this topic years ago, which influenced me to carefully choose the right market.  

I can't imagine someone with this history so fiscally irresponsible!

Whatever the reason, it has nothing to do with me, or anything I can influence.