I’ve made lots of money on TDs and lost a fair amount too. Many pitfalls, and not for the amateur. Best in a rising market too, with low loan-to-value ratios and superconservative estimates of value of the collateral.
DO NOT trust the person pitching the TD; get a second opinion from someone very experienced doing TDs. So many ways to lose…you need to demand 12% interest, at least, to offset all the research and legwork you need to do.
LLPs? They are even more dangerous.
