Scope of Work

The scope of work must be a detailed breakdown of repair items. The scope of work is what F Street Investments will refer to when you submit a repair draw request.

F Street Investments will advance $3,000.00 from the repair escrow to the borrower upon successful closing to get started. The $200.00 repair draw fee does not apply to this advance.

F Street Investments will not approve funds for uncompleted work or ordered materials. We approve funding for repair work that is completed, and all materials installed. All completed work must be on the submitted scope of work and requested dollars must match your categories on the scope of work.

Upon 100% completion of work within a category of your submitted scope of work, the borrower will complete a repair draw request on our website at https://thehardmoneyco.com/repair-draw/. The borrower can submit multiple draw requests throughout the project and can combine categories of completed work on one draw request as needed.

There is a $200.00 repair draw fee for each draw request. The $200.00 will be deducted from the remaining repair escrow balance.

A data collector from our third-party vendor will call/text within 1 business day to schedule an inspection. F Street Investments will then review and fund your request within another 1-2 business days. If requested repairs are not 100% completed at the time of inspection, the borrower may be subject to an additional draw fee for re-inspection.

If the borrower is requesting a change to their scope of work, such as reallocating funds from one repair category to another or adding/deleting a repair, the borrower must inform F Street Investments of the change request on the repair draw form for our review and approval.

F Street Investments will not advance the final amount held in your repair escrow until all repairs on the scope of work are 100% completed. F Street Investments reserves the right to hold back up to 10% of the total repair escrow until project completion.

F Street Investments will not release any repair funds to borrowers if there is past-due account balance on any active loans under your LLC. The borrower’s account must be current in order to receive any funds.