BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 4 years ago, 05/08/2020
Planning out the Rehab Draws
I'm looking for some collective wisdom to chime in with their own experience on this. I want to give my rehab crew all they need to get the job done but want to protect myself by ensuring the final draw is large enough to motivate getting the project done completely, yet not so large that they have to come back to me for some of it to buy materials. The final draw isn't paid until the final walk-thru is done. So I'm trying to figure out what's the best way to line up tasks so that the final draw is more labor than materials. Or a better way to ask this question is what's your method for scheduling draws so that you're not left with only $1000 to pay at the final draw. Hopefully, I'm making sense.