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Updated over 7 years ago,

Sarah Lorenz's profile image
Sarah Lorenz's profile image
Sarah Lorenz
  • Specialist
  • from Ann Arbor, MI
  • Member since Mar 5, 2016
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355
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190
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Sarah Lorenz's profile image
Sarah Lorenz's profile image
Sarah Lorenz
  • Specialist
  • from Ann Arbor, MI
  • Member since Mar 5, 2016
Connect
Sarah Lorenz
  • Specialist
  • Ann Arbor, MI
190
Votes |
355
Posts
Land & New Construction

Can you take pay from your hard money loan during construction?

Sarah Lorenz
  • Specialist
  • Ann Arbor, MI
Posted

We are looking at a new construction project, a single spec house with a hard money loan. Can we take pay out of the loan since we are acting as the general contractors? I think I read/heard discussion of this on BP, but I can't find record of it, and I'm wondering how that is structured. 

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