Structuring a private money pitch

[Shanna Zeiset]

I'm about to pitch to a friend (who actually pitched to me awhile ago, so I know he's interested) about financing flips with his money through private money lending. I basically need to know how to even talk to him about it. I need to know what a normal private lending rate is(Lancaster, Pennsylvania) and how to structure a contract including deed in lieu of sale and so forth. I understand the basics of hard money and annualized interest payments. Is it similar to that? Thoughts/suggestions from some people that have do business with private money investors would be very much appreciated. I don't want to be taken advantage of or vice versa. Thanks in advance for the tips and advice!

[Charlie Fitzgerald]

Get to an Attorney with your friend and have the Attorney do the paperwork for the agreement between the 2 of you.