private money lending

[Darian Eldredge]

I am new to investing and came across the oppurtunity to bring in a private money lender on my side to go in a fix and flip.

the numbers were:

purchase price- 155,000

repairs- 25,000

arv- 250,000

misc- 5,000

5 percent for commissions and 3 percent for closing costs.

expected to sell for 230,000

profit- 40,000

my private money of 20,000 was to be used for the commission and closings costs. everything was to go though escrow at Chicago title.

my question is how do I make sure that the profits I and my money lender make are secure as we are just putting money into the house, but have no claim to the house as we are not on the title as far as I know. 

The flipper I am working with says he will put a demand in writing that we get paid our dues and that I should make a contract between me and my lender and me and him(the flipper) to be deposited with the title company. It seems good I just want to make sure the money is protected and we will receive what we ask for and not have our money disappear. Just want to make sure everything is safe. Any feedback is much appreciated.