Private Money Deal Structure

[Mike Donnenwerth]

I have heard several strategies in the creative finance forum and one I'm interested in is private money. I understand the concept of partnerships and friends/family providing capital to purchase a deal. My question is when approaching a potential private money lender, how do the deals typically get structured? When would the.private money lender get paid? Do they get all of the cashflow up to their agreed upon percentage?

This is how I would like to begin as saving capital takes time to do. I have some family members who would be interested but having a plan to present to them would likely be more enticing. Any comments would be appreciated.