Trying to understand private/hard money lending terms

[Samuel Lynch]

Good day all. I am trying to understand how a deal could look in terms of private/hard money lending. I understand the sources but I do not understand how an example deals' structure could look for a buy and hold investment. I understand conventional loans and such, just having trouble understanding terms with private money.

I tried researching the topic but only found what private lending is and the sources. I am looking to try to understand what an actual deal could look like. 

Can one of you give me a very basic example or a previous deal you may have made so I can get out of this researchers block I have going on?

I don't know if I am asking the right question with this so some guidance would be much appreciated. 

I am asking this to add knowledge to my toolbox because this is one knowledge area I am completely lost at.

[Bill Gulley]

A private lender is someone known to you, they do not offer loans to the public, those that do are HML's regardless of what they call themselves.

You ask your Aunt to loan you the money. She goes to the bank and gets a certified funds check for the amount you need to close. The check is made out to the escrow or settlement agent, not you.

You go to closing, you sign a note payable to your Aunt under the terms agreed to. 

 You close, then begin making payments on the loan, as if you had borrowed from a bank. 

Don't fail to pay as agreed, it's your Aunt!  :)