Selg GC'ing a flip with a hard money lender

5 Replies

I've been looking through the forums and wasn't able to find anything on this topic. Newbie to investing and I'm working with a hard money lender who will provide 90% of rehab costs, but I need to submit a line item job proposal. If I am planning to do some of the work myself and hire subs for the remainder, how to I present an acceptable rehab proposal to the lender? Thanks in advance for any help!

They are asking for a line item, not who will be performing the job.

Thanks Manolo. So you are saying the bid deosn't need to be from a licensed contractor with hard money lenders?

If anyone has input on how to get the best estimates for rehab work I would love to hear them. i.e. estimating tools, etc....

Originally posted by @Brian Holt :

Thanks Manolo. So you are saying the bid deosn't need to be from a licensed contractor with hard money lenders?

 It will depend on the lender.  I would ask your lender what he is looking for...

Just be upfront with your lender and ask them what they need. Tell them that you are going to do certain amount of work yourself and if it’s okay. You may need to do is indicate the work you are doing yourself on the estimate.

There are a lot of good estimating tools that you can use to do the estimate yourself. Google “rehab estimator” and find something that suits you. Many of them give typical costs already loaded for many items.

You could also use a service ($200-$300) that will draw up a cost estimate for you.

Good luck, 

George Krajacic 

Thanks everyone for the input!

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