I LOVE these deals because you will essentially get a free loan for that duration to complete your renovations.Best of luck with your two projects this year, and reach out if you want to discuss more details.Phillip DakhnovetsGuardian Property Management & MaintenanceHi Elvis, you will need to fill out a constrcution permit if you are doing a major renovation, which requires a inspection from the city to ensure the code is followed.

The rest of the funds received will be considered a return on your cost basis and non-taxable as well.Thanks for the response Ben The house was never used as a rental, it was owner occupied by myself for the duration of the mortgage.

Often what they ask for is not what is always required... it likely says something like "Verify the duration the entity has been in business" and someone decided "A letter from a CPA would be acceptable and easy".  

Has anyone used HomeTap for funding leverage given that there's no monthly payment for the duration of the term?

A property inspection or review of recent upgrades/repairs is crucial.Private Lender Terms: What terms is the private lender offering (interest rate, duration, fees)?

✅ Preferred loan terms (LTV, duration, etc.)?

@David DachteraThe only evidence given on behalf of your point is that additional mortgage payments in chunks reduce the actual loan duration and therefore the total paid interest.

Going back longer durations, it has the highest increase.  

Let’s just say the hard money lender became my best frenemy for the duration of this project.

Borrower has the 3% loan in place for the duration, and 14% investor can be paid off with increased rent in say 18 months.