Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 578,963	$ 3,922,875
Adjustments to reconcile net income to net cash provided by operating activities:
Paid-in-kind interest income, net	(80,116)	(657,700)
Depreciation and amortization	946,494	946,494
Provision for Loan Losses	1,144,994	0
Amortization of Net Purchase Premium	11,112	12,654
Straight-line rent adjustments	(334,452)	(121,395)
Amortization of deferred financing costs	551,226	419,173
Net loss on extinguishment of obligations under participation agreements	319,453	0
Amortization of above- and below-market rent intangibles	(111,748)	(111,750)
Amortization and accretion of investment-related fees, net	(4,140)	(105,567)
Amortization of above market rent ground lease	(32,587)	(32,587)
Changes in operating assets and liabilities:
Interest receivable	(376,919)	(109,029)
Other assets	(9,093)	155,815
Due to Manager	22,520	(57,782)
Unearned income	(167,104)	563,412
Interest payable	(143,220)	(93,939)
Accounts payable and accrued expenses	839,938	(489,766)
Other liabilities	222,194	(89,376)
Net cash provided by operating activities	3,377,515	4,151,532
Cash flows from investing activities:
Origination and purchase of loans	(38,376,448)	(70,813,882)
Proceeds from repayments of loans	13,371,565	60,319,802
Purchase of marketable securities	(3,354,442)	0
Proceeds from sale of marketable securities	48,073	0
Capital expenditures on real estate	0	(242,071)
Net cash used in investing activities	(28,311,252)	(10,736,151)
Cash flows from financing activities:
Proceeds from lines of credit	35,000,000	0
Proceeds from borrowings under repurchase agreement	14,807,834	45,347,521
Proceeds from issuance of common stock		0
Distributions Paid	(8,832,071)	7,556,413
Proceeds from obligations under participation agreements	14,291,899	5,716,927
Repayment of borrowings under repurchase agreements	(3,395,740)	0
Change in interest reserve and other deposits held on investments	(2,286,740)	2,250,093
Payment of financing costs	(84,175)	(226,738)
Repayment of mortgage loan payable	(132,625)	0
Repayments of obligations under participation agreements	0	24,903,061
Net cash provided by financing activities	74,865,456	16,128,143
Net increase in cash, cash equivalents and restricted cash	49,931,719	9,543,524
Cash, cash equivalents and restricted cash at beginning of period	50,549,700	28,538,853
Cash, cash equivalents and restricted cash at end of period (Note 2)	100,481,419	$ 38,082,377
Terra Property Trust 2 Inc
Cash flows from financing activities:
Proceeds from issuance of common stock	16,897,074
Terra International Fund 3
Cash flows from financing activities:
Proceeds from issuance of common stock	8,600,000
Master Repurchase Agreement
Cash flows from financing activities:
Payment of financing costs	$ (2,800,000.0)