The reason is that as private lenders we lend 60%or less of as is value, if we do lend on after stabilized value it’s done by escrowing the repair allowance to be doled out as repair milestones are completed, so we are never above 60% as is value.

Will set better project timelines and develop milestone incentives to keep contractors on task.

Will set better project timelines and develop milestone incentives to keep contractors on task.

You have a goal and a timeline, now it's time to work backward and set goals and milestones

Now you just need to put down some milestone and start hitting them.

@Robert RichardsonNo problem and congratulations on your equity milestone.

What sort of project milestones should I set with them?

As a renter looking at condos, you need to put similar language into the lease agreement prior to signature and the language also should limit how much of the up front money, ie security deposit, rent etc. you have to furnish until this milestone of review has taken place.

for loan closing costs plus more for contingencies and don't forget to have enough to start rehabbing at least until the first draw milestone.

It's very hard to find yield these days, so I think that's opened many people up to alternative streams.4) Buffer your estimates, pick clear milestones, always hit your targets and you will have the most loyal group of lenders imaginable.Thanks