Hard Money Draw Question

[Leanne Sorg]

How do I go about getting a draw from my hard money loan to pay my contractor? Do  I contact my hard money loaner or the title company? Any info would be helpful

[Cory Lader]

You typically just call the lender and tell them that you're ready for a draw inspection. I'd be ready with a list of items/tasks you're seeking reimbursement for so that the person who reviews the work knows exactly what they are looking for. This builds good rapport as well. Assuming the inspection goes well, you should have the money relatively quickly. I've gotten draws within 24hrs of my inspection.