How Construction Management Helps Your Fix and Flip Project Succeed
What do investors need to succeed on a fix and flip or new construction project? The list is pretty lengthy:
- A property they can purchase at a price that will allow for profit
- A construction team with a trustworthy general contractor and experienced subcontractors
- Access to building materials, flooring, countertops and more with quick turnarounds and competitive prices
- A project plan with a realistic yet aggressive timeline and budget
- Funding that allows for a quick close and efficient construction draws
Obviously, when investors come to Lima One Capital, the funding piece is one of the big services they expect. But did you know that Lima One also has an in-house construction management team? This team’s goal is to ensure that your project goes smoothly, so that you can finish construction or rehab and recognize your profit quickly. Whether your plan is to sell the house or refinance into a long-term loan based on the after-repair value, Lima One construction management helps you succeed.
Our construction management team helps with your loan in two key ways:
Reviewing construction budget during underwriting—Lima One will review your construction budget to ensure that it covers all the bases, includes realistic pricing, and fits the property you’re purchasing. This step confirms that your financial plan for the property is set up for success.
Processing construction draws during the term of the loan—Lima One’s construction management team receives your construction draw request and arranges for an inspection to ensure that you get paid for the work completed on your property. This process moves quickly thanks to our vast network of inspectors, and it ensures that your project stays on budget.
In addition to these key roles, our construction management team also brings expertise from hundreds of completed flips and new construction projects to your loan. The result is new ideas, tools, and tactics.
As the nation’s premier lender for real estate investors, Lima One seeks to offer our investors the best in every category—financing, loan options, customer service, and more. Our commitment to in-house construction management is another example of how we do this. Contact us today to discover the difference of construction management on a Lima One loan.