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Updated almost 11 years ago on . Most recent reply

Joseph Pytcher's profile image
Joseph Pytcher's profile image
Joseph Pytcher
  • Lender
  • from Plano, TX
  • Member since Sep 23, 2013
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283
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Joseph Pytcher's profile image
Joseph Pytcher's profile image
Joseph Pytcher
  • Lender
  • from Plano, TX
  • Member since Sep 23, 2013
Connect
Joseph Pytcher
  • Lender
  • Plano, TX
58
Votes |
283
Posts
Rehabbing & House Flipping

GC Deposit and draw schedules

Joseph Pytcher
  • Lender
  • Plano, TX
Posted

What is a typical deposit and draw schedule look like for a rehab?

My GC just sent me a bid and has the following...

$7,500 deposit

Draw 2 upon completion of Demolition - $7,500

Draw 3 once tile work begins - $6,500

Draw 4 - upon completion $3,500

What has me baffled is that they want me to pay $15k before the actual rehab begins!

What is typical?

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