Structuring a Private Money Deal

[Dalwin Garcia]

Good afternoon everyone!

I'm curious to know if anyone here has ever used a private money lender to fund a hard money deal? Let me explain:

I, myself, am strapped for cash (bought 2 new deals in the last 6 weeks). I may have another deal coming my way though and I do have some friends who are interested in partnering up with us (myself and my wife) if a deal were to present itself and made sense.

My friends aren't swimming in money, so the idea of them just funding the entire deal isn't feasible, but some of them do have the funds for a down payment a closing costs.

The reason I mentioned HML before is because this deal I have in the pipeline will require a quick close (less than 2 weeks) if I really want it.

So, with all that being said, anyone have any experience structuring a deal of this nature? Essentially the down payment and closing costs would come from our private money lender (our friend) to help fund the hard money deal and the HML would obviously fund the purchase and rehab (if the house needs any, which I'm sure it will).

Last thing to mention, we're primarily Buy and Hold investors so this deal would be a rental (duplex).

Thanks guys!