Private funding contract

[Dana Regan]

I am purchasing properties with hard money, then refinancing. I have used hard money companies, but now my family and friends are interested.  I have no problem with this, as long as it is in a contract.  I need ideas on how to establish the contract- are there guidelines on developing a loan contract for this? For example, worst case scenario it could be a 12 month loan- do I establish the loan for 12 months, with a monthly interest payment or payment at the end of 12 months? Or do I do quarterly payouts, with a clause for potential early termination (less than 12 month). Are there loan templates?  Do I position it as interest or a fee?  Thank you!!