To reduce electrical calls, we educate our tenants at move in on flipping a tripped breaker and limiting electrical use.

But if you need more cash in hand now and can handle the higher fees and reduced cash flow, option 1 could make sense.As for shopping around, it might be worth getting a few more quotes, especially if you think you can find something that combines the best of both worlds—a decent LTV and lower fees.Hope this helps!

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

Boston Properties is currently looking to reduce the residential and retail footprint of Reston Next, and increase the office development, after the success of the first two office towers that became available in 2021, now being occupied by Fannie Mae and Volkswagen.

Management fees are at 8%, them what has made me worried is the "sign with us now with two properties instead of the one and I'll reduce management to 7% this week only".

Transitioning to newer product is a great step in rebalancing the portfolio and reducing liability on cap ex issues.

Despite being able to lend on a variety of loan products, I filter it down to just one to reduce the amount of fluff like you mentioned.

However, wouldn't you agree that starting almost any business will be very labor intensive for the owner at the beginning?

Took him years to get the approval because of opposition from a neighborhood association that a lot adjacent to a residential area will reduce property values.As others have mentioned, if it's just a matter of getting loans, I rather shop around for banks that would do it.

Keep in mind you’ll need a pile of cash (mostly to cover labor as your fill your home) to start the business or get a loan to start the business.