Like most Private and Hard Money Lenders we place your rehab funds in an Escrow Account to be received in reimbursements as the said rehab and renovations are completed, inspected and approved.  

You (the Client/Investor) will start the project with your money and you have the option to be reimbursed each time you spend more than $15,000 in said rehab and renovations or to continue adding to the amount and requesting a larger amount at a later date.

For example, if your rehab budget is $75,000, you have the option to request five $15,000 draws, one $75,000 draw or any combination in between so long as the requested Draw Request/reimbursement is >$15,000.  You will then submit a Draw Request to draws@texasnotes.com of the amount you are requesting as well as all paid receipts, invoices, along with before and after pictures of the work completed for each draw. Check out our blog post here for more details on our Draw Process HERE!