A new contractor may come in at 70% or on rehabs in smaller amounts, a seasoned contractor that has years with a lender may have other arrangements dragging off 100% of lot costs and materials with labor.

I'll want to see checks deposited in the note holder's account from payments that were made.If it were a note made by a broker with cash, most all of that info, along with an appraisal is in the loan package.

They could have carried materials and clean the place up!

Im just curious on which store you all use for your rental property material and why and what you buy there?

Also, you may want to get a few quotes to compare pricing and materials that will be used.

I've spent several years on the sidelines reading a lot of material (Allen, Sheets, Terry, Kiyosaki, etc) and trying to find a way to enter the investment arena.

Also have a 19 package bulk deal closing hopefully this month.Lastly, have a rehab getting ready to start in the hometown of Aurora, CO.Hope the year just keeps building off of this positive momentum.Who else is killing it??

That's a ridiculous amount for the contractor to ask for, unless the work requires a lot of upfront costly materials (like roofing jobs);- Never finalize a bid until after you have all the information you need for the job.

the loan will be in Tom's name (not his company name).Tom will order materials, arrange contractors, pay monthly mortgage/utility bills.Jim will provide the $15,000 in cash needed to rehab the property.Tom = $6,000 initial cash (plus) time = $6,000 cash outlayJim = $6,000 initial cash (plus) $15,000 rehab cash = $21,000 cash outlayQuestion #3 - how would the deed read?

You might want to checkout some of the better landlording books like "Landlording" by Leigh Robinson or Mr Landlord's materials.