Episode 107: The $75K Credit Card Loan That Vanished - 3 Mistakes That Destroyed a Private Lender.

What if trying to make a safe 12% return ended up costing you $75,000, plus 25% interest? This episode is different. Rich shares a real call he received from a private lender who wired $75,000 to a local flipper, using a 0% credit card. No mortgage. No deed of trust. No security. And now the borrower has disappeared, while the credit card company wants its money back.It’s a tough story. But it’s also a powerful lesson. In this short but important episode, Rich breaks down the three critical mistakes that destroyed this deal and how you can make sure you never end up in the same position.You’ll Learn How To:Avoid lending institutional money, such as credit cards or lines of creditProtect every loan with the right security instrumentRecognize red flags like gap funding and bridge loansSeparate community reputation from real due diligenceThink like a lender, not like a people-pleaserWho This Episode Is For:New private lenders who want to avoid painful mistakesReal estate investors approached for quick bridge loansAnyone considering using credit cards to fund investmentsInvestors who want to grow wealth without blowing it upWhy You Should Listen:Private lending can be one of the best wealth-building tools in real estate. But only if you do it right. This episode is a wake-up call. Rich walks through exactly what went wrong, from lending borrowed money to wiring funds without security, to ignoring the warning signs behind gap funding requests. It’s not about fear. It’s about being smart, protected, and prepared. Because if you won’t protect your money, no one else will.What You’ll Learn in This Episode:[00:00] The call that sparked this episode[01:30] Why lending credit card money is a dangerous move[03:00] The massive mistake of not securing the loan[04:30] Why reputation is not collateral[05:00] The red flags behind gap funding and bridge loans[06:30] What happens when a borrower disappears[07:30] The hard truth about trying to recover your moneyFollow Rich Lennon here:Website: https://richlennon.com/Facebook: https://www.facebook.com/rich.lennon.121Instagram: https://www.instagram.com/richlennon92/