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In order to put together a construction loan request, you need to have the following items:
Page 1
- a brief outline
- property address
- purchase amount
- construction loan amount
- how much money do you have in the deal?
- how much out of pocket capital are you going to put in?
- length of loan
- exit strategy
Page 2
- Executive Summary
- include who you are, what you do, what you've done, experience in rehab properties
- who you've partnered with
- past project facts
Page 3
- portfolio – include pictures
Page 4
- short bio on each of the partners
- contractor's resume
- line-item budget
- comparable sales
That's basically it when it comes to putting together a construction loan request for a rehab or renovation project.