All Forum Posts by: Sean Salandy
Sean Salandy has started 35 posts and replied 147 times.
Post: Cost of Vinyl Fence Installation
- Kent County, DE
- Posts 147
- Votes 22
Post: Cost for vinyl fence installation
- Kent County, DE
- Posts 147
- Votes 22
Post: Time period for Hard Money Draws
- Kent County, DE
- Posts 147
- Votes 22
Post: Time period for Hard Money Draws
- Kent County, DE
- Posts 147
- Votes 22
Post: Time period for Hard Money Draws
- Kent County, DE
- Posts 147
- Votes 22
Post: Draw Schedule Format
- Kent County, DE
- Posts 147
- Votes 22
@Jeff Rabinowitz Thank you for your response. You gave a lot of good information. I am a borrower and the HML would like to do 4 draws with an inspection before each. I just wasn't sure how detailed the proposed schedule had to be. It might be best if I contact the lender to find out.
Post: Draw Schedule Format
- Kent County, DE
- Posts 147
- Votes 22
What is the best way to create a draw schedule? I've seen some people list 4 or 5 Milestones and give a percentage for each milestone and I've seen others create a milestone and pay the specific dollar amount for each line item within the milestone. For instance,
Draw 1: 10%
Demo, Framing, etc,.
Draw 2: 35%
Drywall, Trim, etc.
Draw 3: 35%
...
Draw 4: 20%
...
or
Draw 1:
Demo - $3000
Framing - $ 3500
Rough-in - $8500
Total: $15,000
Draw 2:
Drywall - $7000
Trim - $1250
Total: $8250
etc.
Note: The dollar amounts are only used as an example.
Thanks.
Post: Typical Hard Money Loan Fees
- Kent County, DE
- Posts 147
- Votes 22
Post: Typical Hard Money Loan Fees
- Kent County, DE
- Posts 147
- Votes 22
Post: What to look for with private lenders
- Kent County, DE
- Posts 147
- Votes 22