[EpicEng]

Not at all tech related, but my friend and I loan money for mortgages to people who likely wouldn't be able to get one from a bank. Mostly fix and flips, interest only, two year term. Make 12% on each one.

[ks1234]

How did you find these deals? Did you find them directly or through a service like Patch of Land?

[throw03172019]

Interesting! How did you get into this and how much capital was needed to start?

[monoideism]

What happens is they haven't sold at the end of the two year term?

[EpicEng]

Sometimes they pay it off, sometimes they extend. Defaults are rare, and we're first in line.

[monoideism]

> Defaults are rare,

Because we've been living through a lengthy real-estate boom that will likely bust in the coming year or two. I'm sure you've kept that in mind, but that's the reason defaults have been rare.

I like the idea, however. How do you find your flippers?

[iends]

12% a year?

[EpicEng]

Yeah, it's a mortgage. Interest only though, so it's a flat 12% / 12