Scope of Work and Repair Draw Disclosure
Hi, Investor! This is the Scope of Work template that will help calculate the costs of rehabbing your investment property. This is an important tool for you and our Underwriting Team to better understand your vision for this project. Upon completion of the form below you will be emailed both a PDF and Excel version of your SOW that can be referenced as your project progresses.
While completing this form, we encourage you to use the description fields to provide detailed explanations of your plans. This will help expedite the underwriting process and get you to the closing table as fast as possible.
Please take the time to review this with your contractors to ensure you are requesting the correct amount of funds. You should also contact your local city/county to verify all local laws, codes, and regulations. These two steps will ensure your project avoids unforeseen costs and stays within budget.
Keep in mind that your rehab budget will be funded via reimbursement. This means you will use the initial $3k in financing from us and your own funds to begin the project. You will then request draws from our website to be reimbursed.
If you prefer to complete your Scope of Work with an Excel Worksheet, please download the template and forward a completed version to your Loan Originator.
Check out this instructional video from Scott, founder of The Hard Money Co.