If you're in and no nice and draw and want to get premium pricing paint it.

This includes things like origination points, fixed fees, draw fees (from repair escrow), required 3rd party fees that other hard money lenders would not require (e.g. certified appraisal, legal fees).- When are the points & fees paid?

The only thing I would add is that a title company/closing attorney that draws up the note can put multiple people/entities as the beneficiary.

It is my plan to draw up a portfolio of these properties over the next number of weeks and to start making enquiries re their availability.I have come across a route to the details of owners of properties showing potential which are not listed with a Real Estate Agent which I believe may be an angle that will result in acquiring some great value deals.Anyway, that's my intro, I look forward to interacting with the community here and learning lots to aid me with my upcoming steps into the market.Martin.

Second question is once he's out and I'm seeking new tenants, is there any way to sift out those "needy" type of tenants or is it luck of the draw?

They will most likely receive their money in draws and many times they only receive their money only after an inspector comes by and checks that the particular phase of the project has been completed.

6) What is their policy on construction draws? 

What draws you to the Minneapolis market, from California?

We don't draw a line in the sand with a credit score number.

We went through something similar and preferred a HELOC vs. refinance as we wanted a line of credit to draw on when we needed it as opposed to just having more cash in hand.