Connect Your Renovation Budget to the Actual Draw Process

Connect renovation budgets to actual draw requirements for business-purpose, non-owner-occupied 1–4-unit investment properties. Ask whether costs are advanced or reimbursed, which expenses qualify, what review requires and who submits records and arranges inspections. Compare contractor payment terms with the lender’s process and identify cash needed before reimbursement. A submitted request does not establish when funds will arrive. Confirm documentation, fees, retainage, final release, and review of scope changes, reallocations and contingency uses. Reconcile requested, approved and disbursed amounts with funds and work remaining. Financing is subject to lender review, eligibility, underwriting and approval. Explore the forthcoming FUNDED by Don McClain.

More from Residential Investment