We are a Rehab Lender. We lend money to borrowers that purchase properties, fix them up and Rehab them to make money.
All of our properties are:
1. Single Family
2. Non Occupied
3. Typical rehab is $30,000. Max Rehab is $50K with some acceptations
4. We have a contractor Bid on file but some like to do the rehab themselves
We need help with managing the borrower and the contractor, overcoming problems and finding solutions.
We want rehab done is the time frame of 1 day per $1,000 of work plus 7 extra days to get ready and get the property on the Market.
Lots of borrowers want to do it yourself, that is fine but needs to be done in time or needs to be hired if they can’t meet deadlines. The funds have been put in escrow based on contractor bids.
Your Job is as follows;
1. Have a phone call and put a project plan together with the borrower and the General Contractor
2. Minimum of One phone call per week with Borrower and Contractor or Subcontractor. But more than likely 2-3 calls per week.
3. Make sure the project stays on track
4. Collect Draw Request and match them up against the bid to make sure we don’t over pay for items
5. Order Inspections for the property based on Draw Items
6. Approve or Decline Items based on policy for Draw
7. Keep working to get the project done
8. Overcome hurdles or problems to get the work done when there are problems.
9. Get the property done with the borrower, with the contractor, or find new contractor or labors to get the work done and back listed on the market. Don’t allow the project not to get done overcome any hurdles that may come up
10. Lien Release from Contractors
11. An inspection has to be done a minimum of every two weeks. If one has not been done in two weeks then a forced inspection will be mandatory.
12. You will call and order the inspections from our evaluators and get them back
STATES WE DO BUSINESS IN
You do not have to be in the state to be able to do the job
Texas, Virginia, Georgia, Maryland, Illinois, Indian, Michigan, Ohio, Washington, Louisiana, North Carolina, New Jersey.
1. Must be ready to start work within the next few days no more than a week
2. Available for 20 hours per week minimum. We can go up to 40 hours. These hours must be between 9 AM and 7PM
3. Have Constructions and project management background
4. Computer Skills - Must be able to pass basic Type test as well as Basic Excel test
5. Willing to make phone calls and talk with people. No Hiding behind emails
6. Willing to have Tuff conversations with borrower that may have heard what they want to hear about how draws work, Sympathize with them and come up with plan to make it work while a hearing to our policy
7. Ability to work with Handymen as well as borrower, not just general contractors
8. Able to manage a project long distance with pictures and inspections