Private Money Question

[Jim Sestito]

Hello BP,

I am looking to simplify to the process of private money.  How exactly to the transaction goes down, and how the lender gets paid back.

For the post I am focusing on investing with friends / family money.  Shouldn't matter but doing so in Massachusetts.

To the best of my knowledge this is how a transaction goes down; 

1. Borrower finds deal - requires capital

2. Finds Private Lender - offers investment opportunity. 

3. Negotiates amount + Interest rate + Terms 

4. Lender send funds ( gym bag of cash, check, venmo??)

5.  Borrower pays back (What sites let you set up a loan payback between two people?)

Any clarification / simplification would be greatly appreciated.  

Thanks guys,

Jim