Question for the masses.Why is private money, from friends and family what I hear is "the way to do it" such a good thing, when I am seeing private money mortgage brokers offer 6-7% loans 30 year fixed? 

Without question, Realtor referrals were the biggest source of business for me - still are.

I think your biggest challenge will be knowing too much and knowing everything that can go wrong.

Overall, things have been good, but my biggest problem is that the ceilings are paper thin.

I'm a RE accountant, so my reply is based on complaints/praises I hear from my clients.Investors prefer to have one lawyer for everything REI: LLC formation, closings, private money deals, evictions, litigation and whatnot, even though it's often best handled by specialists.Number one complaint is accessibility.

@Cedric My average LTV is probably around 55%The part you missed is that I have never paid market value I pay between 30% & 70%My lenders are local private lenders.Let me give you some history,Step One: 40k in the bankStep Two: Purchase 100k worth of property which grosses 18k/yr.

I prefer to look for another source of a private lender based on the deal itself not looking for banks or credit based solution or id already go that route. 

Hard money, private lenders, friends and family, Heloc, cash.

I've done all the events except for the private money one.  

When I originally started flipping, one of the biggest takeaways I got from J Scott's book was to not have any "dead days" i.e. days where nothing gets done.