Real estate private money

[Bryce DeHaan]

I have a bunch of deals lined up but plan on borrowing down payment capital from a private money lender. The mortgage itself would be a regular bank conventional loan. My question is, how do I structure this for the private lender to ensure they have security? One of my potential private lenders is weary because she wants to be first priority lien holder but obviously the bank would come first. I understand that we would do a promissory note but what would be her collateral? This will be a buy & hold multi family investment and we would pay her back in monthly payments until she gets her money back at let’s say 8%. What would be the best strategy here?