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Updated over 10 years ago on . Most recent reply

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Gino Gynero
  • Chicago, IL
2
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Hard Money Lenders

Gino Gynero
  • Chicago, IL
Posted

Im about to start working with some hard money lenders to fix and flip. Once your approved for the loan. How do the disburse you the money?

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Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
1,458
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Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
Replied

@Gino Gynero 

They'll walk you through it.  They'll cut check in phases.  First for purchase, then maybe materials costs, and then as work is done.  You'll need to provide proof of work, invoices, etc.

Good luck!

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