READY, SET, CLOSE - Connected Investors · Ready for funding? Click here. Some lenders may require...
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FUNDING CHECKLIST The lenders will need to know… How much you can put down toward the property How much equity is in the property today How much equity will be in the property after improvements How much experience you have To get the ball rolling you will need to: Complete the lenders Application Provide Personal Identification (Driver’s License, etc) Have a Purchase Agreement (or status of purchase: made offer, considering offer) Provide the lender with an As Is Appraisal/CMA or BPO establishing value Provide the lender with the ARV (After repaired value) of the property Request a Loan Amount Provide an approximate closing date Property specific questions the lenders will ask: Property Address, Heated SF, Bed/bath, Year Built Source of Purchase (wholesaler, distressed sale, foreclosure, short sale, estate, other) Cash for deposits & closing fees / Amounts available for cost overruns Construction Draw Schedule Exit Strategy and Project Timeline Expected renovation days Expected time on market/Expected Sale Date Project partners/principals/agents Purchasing Entity (LLC, Corp, LP) Closing Attorney/Title Company Information Insurance Ready for funding? Click here. Some lenders may require more extensive information such as a property inspection, authorization to run a credit report and background check; authorization to obtain IRS tax transcripts; W-2, K-1, or 1099s, copies of bank statements (proof of funds), copies of leases, documentation on the business entity Need Funding » Visit CiX.com CiX takes the stress out of buying & refinancing investment properties by allowing real estate investors to get multiple offers from verified private and hard money lenders in a matter of minutes. READY, SET, CLOSE
Transcript of READY, SET, CLOSE - Connected Investors · Ready for funding? Click here. Some lenders may require...
FUNDING CHECKLIST
The lenders will need to know…
How much you can put down toward the property
How much equity is in the property today
How much equity will be in the property after improvements
How much experience you have
To get the ball rolling you will need to:
Complete the lenders Application
Provide Personal Identi�cation (Driver’s License, etc)
Have a Purchase Agreement (or status of purchase: made offer, considering offer)
Provide the lender with an As Is Appraisal/CMA or BPO establishing value
Provide the lender with the ARV (After repaired value) of the property
Request a Loan Amount
Provide an approximate closing date
Property speci�c questions the lenders will ask:
Property Address, Heated SF, Bed/bath, Year Built
Source of Purchase (wholesaler, distressed sale, foreclosure, short sale, estate, other)
Cash for deposits & closing fees / Amounts available for cost overruns
Construction Draw Schedule
Exit Strategy and Project Timeline
Expected renovation days
Expected time on market/Expected Sale Date
Project partners/principals/agents
Purchasing Entity (LLC, Corp, LP)
Closing Attorney/Title Company Information
Insurance
Ready for funding? Click here.
Some lenders may require more extensive information such as a property inspection, authorization to run a credit report and background check; authorization to obtain IRS tax transcripts; W-2, K-1, or 1099s, copies of bank statements (proof of funds), copies of leases, documentation on the business entity
Need Funding » Visit CiX.comCiX takes the stress out of buying & refinancing investment properties by allowing real estate investors
to get multiple offers from verified private and hard money lenders in a matter of minutes.
READY, SET, CLOSE
