Private lending for construction - is this a thing??

[Rich Emery]

[Doug Smith]

We put four deals in the pipeline over the past 2 days. We ask for a lot of the same stuff we do on a flip, but we also complete a different ap for the general contractor and as for items such as insurances, plans, permits, scope of work, GC license, GC's driver's license, etc. We also get the entity info including the articles of organization, the operating agreement, EIN info (IRS SS-4 form), Certificate of Status, 2 month's bank statements, a Track Record Worksheet from the Borrower, and a handful of other items. We're going to want to see that you've at least done a handful of flips and that you're not swinging for the fences the first couple of times you step to the plate. Yep...it is a thing.