Budget allocation with hard money lender

[Hassan Ali]

Hey guys I have been a lurker for a very long time, but never really posted until now. I am currently rehabbing a house with a loan from a hard money lender. I have about 100k in rehab budget and it’s going well so far.

My issue is that my initial budget was very detailed and contained a lot of items that I don’t necessarily need to have done or is cheaper than I budgeted for, but some work that is costing more than I thought. Due to this, I am realizing I can’t ask for draws for items that aren’t needed and I would need higher draw amounts for things that do actually cost more. I have redone my numbers and my total budget stays the same, but just allocating things in a different way. I may have to put in another 10-15k of my own money for the final finishes and that is okay for me. Is changing the budget numbers around something that hard money lenders are usually okay with? Has anyone had experience with this? When I initially did the budget they said I won’t be able to change anything once I close, but I had a friend who was able to reallocate her budget and it kept everything smooth and good to go until finish. 

My main goal still has not changed. The project is on track to finish by December and since I got a really good deal, I’ll be able to sell it under market value and still make money. Just looking for some insight or advice on how to go about it before I contact them on Monday.

Thanks a bunch.