Private Money questions

[Rich Thomas]

Hello all, I need some advice on how to go about paying back a private loan... I am in the process of buying a house to flip and need to borrow 300k...i will be using about 200k of my own money also.. I have a close family member that has the cash and I believe is willing to loan the money, but my question is what is the standard way to go about paying this money back? And also at what percentage ? Do I pay him monthly payments with interest or repay the whole amount at the end of the project with all of the interest at once? Im expecting the project to take 3-5 months from start to finish with resale... I want to have all my ducks in a row with a solid plan to lay out before I approach him.. Any and all info is appreciated! Thanks Rich