We have significant corporate experience in international business and bring a strong skillset in management, operations, procurement and project management to our venture.We have spent the last couple months educating ourselves and are now ready to move into the action phase of our plans.  

“Good Thesis” for Single Hard Money Loan: Borrower: Experience with multiple flips in target marketBut… doesn’t have more than a handful of flips going on at any one timeFlip is next logical progression:Example: Flipper used to doing SFH in a given market for past several years is doing a slightly larger project, or scaling to do two simultaneously.Example: Flipper used to doing SFH in a given market is not progressing from small fix and flips to a $2M luxury quadplex ground-up development in one jump.Flipping is the borrower’s full-time jobOr, their single side project in an otherwise established careerFlipper does not have 10 other projects going onBorrower has established contractor networkBonus: Has established contractor skillset and licenseBonus: Has deep experience personally remodeling flipsBorrower personally guarantees loan:Has material assets and net worthIs not highly leveragedHas a cash flow positive lifestyleDeal: Close, clear comps support both acquisition and disposition priceProject timeline and rehab plan is detailed and specificBorrower is willing to loan disbursements staged upon completion of clear project milestonesBorrower has procured binding quotes from contractors regarding scope of flipLoan is no higher than 80% loan-to-cost, and 70-75% of Loan-to-ARVBorrower is putting some skin in the game:Borrower’s equity is not just them buying the property at a discountBorrower is committing at least 10% (preferably 20%) of project cost in cash from their own personal accumulationTimeline is as tight as possible:Cosmetic Flip is less than 3-5 monthsMajor Rehab is less than 1 yearScrape and Rebuild is less than 18 monthsLonger timelines = more conservative Debt to Equity

Trying to procure any intel from our US Government is a debacle for sure! 

Rental services may be performed by owners, employees, and independent contractors and include: (1) advertising to rent or lease the real estate; (2) negotiating and executing leases; (3) verifying information contained in prospective tenant applications; (4) collection of rent; (5) daily operation, maintenance, and repair of the property; (6) management of the real estate; (7) purchase of materials; and (8) supervision of employees and independent contractors.Various administrative duties such as time spent arranging financing; procuring property; reviewing financial statements or reports on operations; planning, managing, or constructing long-term capital improvements; and traveling to and from the real estate cannot be included in the 250 hours of service.

I procured my property with cash, but I needed money for the rehab.

Good Afternoon,If you have a Realtor you like and trust or a few and they bring you an incredible deal you can sign an exclusivity agreement pertaining to only that property for them being the procuring cause.

This typically marks the official start of the project and would trigger activities such as permitting, demolition, material procurement, etc.

You will probably need to hire a procurement to help you out as well.

With a minor in building systems and sustainability (Procure Property Management Cert. as well) , I also have an interest on how properties are being built along with the process that entails.

Tenant shall provide a certificate of insurance to Landlord demonstrating that Tenant has procured the required insurance coverage, within 10 days after the commencement of the Term of this Lease and within 10 days after any renewal or change in such insurance coverage.