Borrowing money from a friend for a foreign property

[John Lingel]

I am looking to buy a $200k property in Colombia (Foreigners can't really get loans) and I plan to borrow $100K from a friend and pay him back over 7-10 years. What would a fair deal look like in terms of the borrowed $100k? I feel it's pretty low risk for him as I have other assets if something went wrong and we have a long history of doing business together that combined with a large amount of equity should make it pretty safe on his end. I have never borrowed money from anywhere but the bank so not really sure what a deal like this would look like.