private lending proposal

[Aja Leafe-Hall]

Any advice for writing a proposal to someone for a private loan? My parents' friends have already offered to finance a property for us, but I need to write a proposal for a specific property. What works well in situations like this? I was thinking of proposing the loan terms as a 5/1 ARM with a balloon payment to the lenders when we have more equity in the property. I am brand new at this and, honestly, pretty uncomfortable. Any insight is welcome. Thanks in advance!