Whelp, Day 1 finished, now what???

Question

BP,

I've decided to take the community through work on my first project in hopes of gaining wisdom from folks on BP.  Here is the link to my previous post:

https://www.biggerpockets.com/forums/67/topics/297...

See timeline below:

Day: Close - 2 days

Selected contractor

Day: Close

+Signed documents for closing (mobile closing)

+Received invoice from contractor and paid 1/3 of invoice for mobilization

Day: Today

+Funding not completed due to a miscommunication between lender, title and wholesaler

+Keys not provided, thus contractor was not able to start working

+Contractors diverted to another rental property to perform maintenance activity (pure dumb luck this happened at the same time)

Questions/feedback

Well, given rehab hasn't started, this day has been a big let down.  Is there anything I could have done differently?  Should I have waited until I secured the keys before officially paying for the contractor?  I did this early because I wanted to make sure I secured the contractor.  Should I consider paying the contractor for their down time today (technically I'm at fault for them not working today given I committed to the home being available today)?

Any thoughts or feedback will be greatly appreciated.

Jeremy I. · Answer

UPDATE:  I just received a call from both lender and wholesaler explaining what is going on as to why the deal isn't funded.  It seems like there is real risk for the deal to not go through.  Does anybody have experience with finding funding at the last minute before (or in my case after) closing???