To the greedy ones, don't get any ideas, just an example that a bank still has a duty to customers not to put them in a situation of having to deal with an untrustworthy party.

Our private money lender on this flip was very reasonable through this whole process, as we had to navigate many gray areas and difficult decisions. 

(I guess that's what the $3K to $4K deposit is for)(3) Is it difficult to find private money @ 12% over 5 years to fund these deals?

Look at all the differences in both rate and terms but most important in my opinion is their track record in customer service and meeting deadlines and closing.

What we do to make up for it is create a private bedroom listing to hit a different target audience to fill in some of those vacancies.

What about the thousands of family members and private money lenders who are under the table?

Do you have someone that manages it all including bookings and customer service or just specific parts like cleaning only? 

Private money & subto How did you add value to the deal?

All real tax advice should be custom and one-on-one.PPS.

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.