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What is a scope of work?
The scope of work is a document showing the type and cost of renovations, generally in line-item format. Are you…
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What is a purchase contract?
The purchase contract is a legal agreement which lays out the terms for the purchase and sale of a property…
What is a preliminary application?
A preliminary application is an initial form sometimes required by a real estate lender that asks for basic information regarding…
What is a net wire?
The amount that the lender wires into closing that equals the closing loan amount less any amounts to be paid…
What is net funding?
The net funding is the closing loan less any amounts to be paid to the lender. By subtracting or "netting…
How do I get a proof of funds letter from my hard money lender?
Reading time: 7 minutes Question How do I get a proof of funds letter from my hard money lender? Post…
How are hard money loans used if I want to “BRRRR” (Buy, Rehab, Rent, Refinance, Repeat)?
Reading time: 6 minutes Question: How are hard money loans used if I want to “BRRRR” (Buy, Rehab, Rent, Refinance, Repeat)?…
What are the pros and cons of using a hard money lender to finance a real estate investment project?
Reading time: 8 minutes Question: What are the pros and cons of using a hard money lender to finance a…