I’ve been having more conversations with lenders lately and one theme keeps coming up:track record unlocks leverage, but no one seems to agree on what milestones matter most.For those of you who have scaled from your first MF acquisitions into larger, higher-leverage opportunities:What moved the needle with lenders the fastest?

Congrats on your first flip, that’s a big milestone and a strong way to start building momentum.

Use Milestone-Based PaymentsNever pay large upfront amounts.

Line up funding before demo by securing a hard money term sheet and one private lender, build a simple scope focused on safety and rent/value drivers, and hire a vetted GC with milestone draws and lien waivers.

For inspections, simplify to milestone-based photo/video plus one surprise spot check, and disclose exact draw timelines and fees before closing.

Then ask for specific wins tied to your risk profile: lower points, faster draws with photo milestones, reduced rehab holdbacks, or a rate drop on repeat deals.

The three most easily defined life cycle milestones/points of entry are: Entitlement;  Development & Stabilization & Stabilized.

That’s the kind of perspective that motivates others in this community.Cheers to hitting those milestones and helping thousands along the way!  

Fund it conservatively, avoid major structural work on deal one, and require written scope, milestone payments, and photo proof.

Put the deal in an LLC with a written operating agreement that gives you decision rights, requires cost-plus, fixed-fee GC terms with milestone draws, and includes a clawback if budgets or timelines slip.