Process to engage Private Lender

[Brahm Jacobs]

I have not engaged private money lenders before, and need some advice on the mechanics of engaging a private money partner.  I have built some relationships with people who has some money, and who is prepared to fund my deals.  I know that once a have a deal that I want to involve a money partner in, I need to follow some of the following steps:

• Present the numbers and the deal to the private lender
• Create a promissory note to the lender
• Engage the private lender prior to or during closing
• Pay the loan in full at the end of the term.

If anyone can elaborate on the steps involved, or maybe guide me to where I can find templates, or the necessary paperwork, I will really appreciate it.

Thanks