Lender Protection

[Carlos Arjona]

I wanted to get your thoughts regarding different steps I can take to protect a private lender as much as possible. I have a friend that's interested in lending me some capital to acquire a property, but he doesn't really have any understanding about real estate investing. I want to reassure him and let him know that he will be protected. Maybe give him first lien rights on the property and create a note that will allow him to take possession of the property if I don't meet our terms. Some type of insurance. I don't know. Any suggestions would be appreciated. Thanks!