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Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Net (loss) income $ 643,567 $ 5,368,135
Adjustments to reconcile net income to net cash provided by operating activities:    
Paid-in-Kind Interest (1,000,028) (1,813,230)
Depreciation and amortization 2,795,173 3,704,254
Provision for loan losses 1,565,245 1,356,737
Lease termination fee income 0 (236,000)
Amortization of net purchase premiums on loans 46,043 41,807
Straight-line rent adjustments (299,396) (727,806)
Amortization of deferred financing costs 852,250 1,484,995
Amortization of discount on unsecured notes payable 136,913 0
Net loss on extinguishment of obligations under participation agreements 0 319,453
Amortization of above and below Market Leases (253,665) (942,574)
Amortization and accretion of investment-related fees, net (89,846) (16,424)
Amortization of above-market rent ground lease (97,762) (97,761)
Realized loss on loan repayments 517,989 0
Realized gains on marketable securities (22,428) (1,160,162)
Net unrealized losses (gains) on marketable securities 23,063 (28,995)
Income from equity investment in a limited partnership (4,563,491) 0
Distributions from equity investment in a limited partnership 4,563,491 0
Changes in operating assets and liabilities:    
Deal deposits (9,529,476) 0
Interest receivable (182,778) (983,769)
Other assets 899,756 (128,693)
Due to Manager 93,226 111,076
Unearned income (179,499) (559,002)
Interest payable 765,168 110,304
Accounts payable and accrued expenses (2,653,266) 1,228,370
Other liabilities 802,166 (805,229)
Net cash (used in) provided by operating activities (5,167,585) 6,225,486
Cash flows from investing activities:    
Origination and purchase of loans (163,504,926) (85,758,523)
Proceeds from repayments of loans 105,909,237 28,690,175
Purchase of partnership interest in a limited partnership (14,065,197) 0
Purchase of marketable securities (6,479,147) (6,039,567)
Proceeds from sale of marketable securities 3,328,157 6,023,723
Return of capital from equity investment in a limited partnership 415,172 0
Net cash used in investing activities (74,396,704) (57,084,192)
Cash flows from financing activities:    
Proceeds from borrowings under the term loan 2,595,576 105,888,747
Proceeds from borrowings under revolving line of credit 25,299,713 35,000,000
Repayments of obligations under participation agreements (23,625,186) (557,778)
Distributions paid (12,224,353) (17,332,985)
Proceeds from secured borrowing 13,196,034 15,604,562
Proceeds from issuance of unsecured notes payable, net of discount 82,464,844 0
Proceeds from obligations under participation agreements 57,103,598 19,784,155
Repayment of mortgage principal (11,855,650) (404,252)
Change in interest reserve and other deposits held on investments (1,944,027) 7,475,137
Repayment of borrowings under the term loan (16,585,001)  
Payment of financing costs (1,663,250) (2,279,872)
Repayment of borrowings under repurchase agreement   (103,994,570)
Repayment of borrowings under revolving line of credit 0 (10,000,000)
Payment for repurchase of common stock 0 (3,620,000)
Proceeds from borrowings under repurchase agreement 0 22,860,134
Cash, cash equivalents and restricted cash at beginning of period 32,920,323 50,549,700
Cash, cash equivalents and restricted cash at end of period (Note 2) $ 66,118,332 93,611,346
Terra Property Trust 2 Inc    
Cash flows from financing activities:    
Proceeds from Issuance of Common Stock   16,897,074
Terra Offshore REIT    
Cash flows from financing activities:    
Proceeds from Issuance of Common Stock   $ 8,600,000