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How to: private lending

Hi y’all I have a couple rental properties at this point, and I’m looking to get more. I have gotten to point, after using only my own money to invest, that I am comfortable starting to use private lenders. I am possibly looking to have multiple people lend small amounts of money(think multiple people lending 1-10k each) I was wondering if anyone has done this with small amounts of money before? How would you go about this? I’m sure it’s possible I’m just wondering how to do it in a way that is cost effective. I’m wondering if the costs would just be too high to make it worth it. Also, I would give the investors a flat return (8-10%) rather than profit share or having them on title or anything so it would just be a lending relationship. Also I am in NJ if that helps. I appreciate any input.

submitted by /u/zipeto
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source https://www.reddit.com/r/RealEstate/comments/ijox79/how_to_private_lending/
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