How to structure a deal using OPM?

[Jeffrey De Los Santos]

Hi, my name is Jeffrey. I am a new investor. I just closed on my first door and am already looking for another deal.

My first deal I did it with creative financing, so I'm looking to do the same on my second deal. However, I would like to use private money this time around.

My question is, if I do find a family member or friend that is willing to loan me the money, hoe do I go about setting up the financing? Do I write up a contract and have the person sign it? And if so, is there a standard contract im able to use for this kind of financing?

Your answers are greatly appreciated!!