But most importantly, they do not need to be paid back.Funding Sources:Local Government/MunicipalitiesState GovernmentPrivate FoundationsFederal GovernmentFamily OfficesCorporationsWhen applying for a grant, ensure you have an understanding of the details such as eligibility, your project readiness, the purpose, funding amount, areas of funding, limitations and deadlines for the application.The prime candidates for a grant are 1) those developing a real estate project or physical space, 2) scaled non-profits and 3) certified non-minority owned businesses.Ensure you are able to provide the following documents before applying for the grant:Show site control through documentationA project description or business planConceptual drawings or renderings of the physical spaceProfessionally prepared budgets for the company and projectWhat does the grant application process look like?

Rates are typically higher than a traditional cash out refinance, however at least you are not getting the full loan amount + you have the flexibility to draw/tap in the money whenever needed.

I of course draw a generous salary as I am running the biz right, what $10m a year seems fair right, lol.     

Out of curiosity, what draws you to wholesaling in these areas?

I wouldn’t do an initial draw at closing.

. - Americans only first lien 30 year mortgage with 24/7 draw ability 24/7. - The only first lien mortgage in America that recasts interest every time you make a deposit! 

Owner’s Draws and Tax Implications: Taking owner’s draws to recover your initial equity is possible, but this can have tax consequences.

And some lenders will let you pay the interest by drawing down on the loan.

I got my lease from a fellow landlord that had an attorney draw it up.

The HELOC will provide flexibility to draw funds you need for rehab and the purchase of the property, whereas on a HELOAN you will be paying interest payments on the entire balance from day 1.