Private Money Agreement

[Letty Kendall]

Hi all!  I am working on my first fix and flip deal.  I have secured a private lender who is an aquaitence of my husband.  The lender has agreed to loan us money for a year to use to buy and rehab a property, and we would pay him back after the sale with the interest payments being paid monthly.  I'm not sure how to structure the actual contract because we will have the loan before we have a property.  We will be using the loan to make an initial offer and without the loan we do not have proof of funds.  Has anyone done this and if so how did you structure the agreement.  Thank you!