A Promissory Note

A Promissory Note that bears 7.7% fixed APR is a better return than you get from just have an interest bearing checking or savings account in the BANK. If we pool our monies together in this group and were able to buy the Deed of Trust Promissory note on a 450 unit apartment complex. We could then split the profits amongst ourselves. The borrower may be someone with stellar credit but still can't get any Bank financing. We just step-in where the Bank won't; that's it.