Personal Loan from Private Lender

[Jessica Piff]

I'm feeling a little intimated now that we're in the process of actually purchasing our first investment in the next 30 days! We are receiving a personal loan from a private lender (friend) for 35k. We've agreed on terms and are in the process of signing our loan agreement. 

My question is this: Once I receive the loan, can I just put it in my bank account and then immediately use the money to purchase the property? I'm using this loan to buy the property outright. The lender has said he does not want to be involved in the sale/purchase of the property, he just wants interest on his money. 

Please help!