Hi @Henry Bass it really does depend on the bank. 

Given the total hard and soft costs involved ($3.5-$4mm based on projects I've worked on in the past) the potential return would be (conservative estimate) around $2mm.  

Right now in certain markets HML are simply NOT HML they are SOFT money when you can borrow from a private company like this .. for maybe 1% to 2% apr above best rates banks will give you today on Construction loans..

I like them and got a little soft spot for them because we chatted so long.

Some even argue that a “soft landing” is possible, meaning no recession at all.

We're usually going to lend between 75% and 90% of the purchase plus rehab and soft costs up to 70%-75% of the ARV.

Just curious and want to hear from others because I don't want my soft costs creeping up and taking from my profits. 

Therefore, while there will be softness in the near term, I'm buying with the belief that it normalizes over a 5 year horizon.Your other point is definitely fair.

Hey @Tina Lee - If I'm in your shoes, I wouldn't give them a soft notice of any kind...

They should be able to communicate that to you and give you a soft deadline of when they can send out a check.Secondly, increasing the claim from $8k-$10k will not have a large impact on your rates.