Using Property Manager for Rehab
I am looking into the possibility of having a property management company who I am using to source deals and manage them once rent ready. Curious if it's the standard for a PM to take the entire lump sum of the rehab up front and distribute to their guys as work is completed? Rather than I fund it on a draw schedule. Seems to eliminate the need for a rehab loan. The problem is it becomes a huge up front cost to close and have to fund the rehab right away.