Hard money lending leverage.
I'm looking for a deal for my first flip, my lender tells me, won't give the loan unless he makes sure the deal I'm getting in to is good, also saids once we buy the property he will provide funding as the project is being completed, using a schedule of values. This sounds great! since recognizing a good deal is one of my biggest worries, also offers me General Contractor they usually work with. But the whole thing sounds a little too good. I would like to know if this is a common practice in the Hard Money lending world. Any experience, advice o recommendation would help.