Hard money on wholesale deals

[Mahinda Horapakse]

I’m in a dilemma. My wholesaler accepts hard money. But my hard money lender requires a detailed repair scope of work to be filled out before being approved for the loan. This would require me to have my contractor do a walkthrough and spend time writing up a scope before I submit an offer to my wholesaler. Given I’m not the only offer, it’s likely that my offer doesn’t get accepted. I’d feel bad wasting my contractors time doing walkthroughs and writing up detailed scopes of work on every property I offer on. To those of you who buy wholesale deals with hard money, is there a better way to go about it? 

[Mahinda Horapakse]

@Mel Hayes@Jerry PuckettThank you! You got me thinking that the scope line item estimates do not necessarily need to be completed by the contractor. So upon reaching out to my HML to confirm, that was in fact the case. It's the first time I'm using hard money so I'm learning the process. Agreed that walking the property and coming up with my own estimate is an essential skill...and I know there are frameworks out there to help with estimates. Again, thank you for your input and helping me solve the dilemma!