Investing in Bridge Loans

[Pscam10]

What is everyone's opinion on investing in bridge loans?

I have a close friend who along with his brother have made 100's of thousands of dollars over the last couple of years. First by investing in them and then second by actually becoming employees of the company and recruiting investors. The deals are usually 45 days in duration and makes the investor approximately a 15% profit.

There only stipulation is that you keep your money invested for at least 3 deals - about 135 days. You are provided with a 1099 at the end of the year for any money that is withdrawn from your account.

Has anyone ever been involved in this? It seems to good to be true - and usually that means that it is...