Sample Term Sheet for Private Money to include payback terms...

[Eddie Sorrell]

Hi All,

I am starting to get some interest from family with respect to leveraging some of their cash on deals to increase the rate of return they are seeing with their other investments. That being said, does anyone have some sample term sheets they have created for this situation that would include the responsibilities of the borrower and lender, the amount of interest for the term, time period and payback terms. I would like to draw something up so this conversation can get more serious. What I am looking to do is leverage their investment for just one deal at a time allowing them to be first lien holder on the property and then prove the value and work towards a relationship that will allow me to use the funds for say 6-12 months, with payback terms and interests allowing me to turn that money over a few times vs. just one property at a time. 

I appreciate any advice, this is such an opportunity!