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Updated over 1 year ago,

User Stats

36
Posts
28
Votes
Sparkle Carlock
  • New to Real Estate
  • Indianapolis, IN
28
Votes |
36
Posts

Looking for insight on flip financing. . .

Sparkle Carlock
  • New to Real Estate
  • Indianapolis, IN
Posted

Hi BP.! I'm trying to gain better understanding of how the money works when getting a HML for a flip. At this point, I've configured all the numbers and know that I'm able to get 100% rehab financed after my down payment. My questions here are:

1) how is the money from the loan held, handled and dispersed? 

2) How do the GC/subs get the money needed to actually do the job? .

3) How does the seller get payment for the property I've been approved to purchase? 

4) Do I have access or am I able to request the funds at some point?

I'd appreciate any advice or direction on how the process works immediately after purchasing the property has been accomplished :)

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