Private Money Partner Question

[Patrick Hancock]

Hello,

Partnering with a private money lender to assist with down payment on a duplex.  He will receive a return on his money for seven years but no equity in the property.  His question was how secure was his loan.  Since he will not own a percentage of the duplex can something be drafted (by an attorney) where his loan is secured by the property itself? Meaning if I fail to pay him, he can foreclose and take the duplex? 

Thanks in advance,

Pat