All Forum Posts by: Aaron Moye

Thank you sir! And I appreciate the insight - I'm seeing if our HML would be willing to outsource fund control to the city via the escrow deposit since both parties essentially have the same incentives in terms of making sure the work is done properly?

Would be curious to know how other investors navigate this process since most lenders seem to advance rehab funds on a draw schedule. Will keep you updated on how this shakes out! 

Hi BP family!

I just went under contract on a property in Cleveland Heights. We were notified that prior to the transfer of title, we will need to establish an escrow account with funds equal to 125% of the estimated cost of repairs of the code violations we are assuming. 

I was wondering if you all had any advice/experience with this so that we can avoid coming out of pocket for this? 

Appreciate any and all feedback, thanks!!