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Updated over 1 year ago on . Most recent reply

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Dave Kush
  • Frankfort, IL
128
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198
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Convince a hard money lender I can manage a rehab

Dave Kush
  • Frankfort, IL
Posted

I am preparing some documents that I would be able to provide to a hard money lender when approaching them. Definitely looking for properties that need work. 

I plan on using a contractor, but don't have somebody I use regularly. Should I locate a contractor first? Thank you for your help!

  • Dave Kush
  • Most Popular Reply

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    Erik Estrada
    #2 Private Lending & Conventional Mortgage Advice Contributor
    • Lender
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    Erik Estrada
    #2 Private Lending & Conventional Mortgage Advice Contributor
    • Lender
    Replied
    Quote from @Dave Kush:

    I am preparing some documents that I would be able to provide to a hard money lender when approaching them. Definitely looking for properties that need work. 

    I plan on using a contractor, but don't have somebody I use regularly. Should I locate a contractor first? Thank you for your help!


     Yes. If you are planning to get rehab financed you will need a scope of work and a licensed contractor to sign off. 

    If you plan on doing the rehab out of pocket, hard money lenders will not require a GC. 

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