Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 3,991	$ 220
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Amortization of deferred fees on loans	(296)	(81)
Amortization of deferred financing costs	888	206
Changes in assets and liabilities
Reimbursement due from sponsor	(167)	(541)
Interest receivable	(563)	(141)
Other assets	(18)
Due to related party	571	341
Interest payable	265	39
Other liabilities	527	536
Net cash provided by (used in) operating activities	5,198	579
Cash flows used in investing activities
Origination and fundings of loans receivable	(191,437)	(49,848)
Principal collections from loans receivable	2,455
Purchases of mortgage-backed securities	(2,000)
Principal repayments of mortgage-backed securities	3
Net cash used in investing activities	(190,979)	(49,848)
Cash flows from financing activities
Issuance of common stock	52,627	28,998
Stockholder distributions	(1,231)	(79)
Stockholder servicing fees	(11)
Borrowings under repurchase agreements	168,426	23,250
Repayments under repurchase agreements	(32,550)
Payment of deferred financing costs	(1,314)	(658)
Net cash provided by (used in) financing activities	185,947	51,511
Total increase (decrease) in cash, cash equivalents and restricted cash	166	2,242
Cash, cash equivalents and restricted cash at beginning of period	2,442	200
Cash, cash equivalents and restricted cash at end of period	2,608	2,442
Supplemental disclosure of cash flow information and non-cash financing activities
Payments of interest	4,451	225
Accrued stockholder servicing fee	912
Distributions payable	257
Reinvestment of stockholder distributions	2,459	$ 328
Payable for shares repurchased	$ 100