When rehabbing with hard money how is the money handled? Does the lender pay the subs or is the money released to me to pay them? Also, would the lender as for writen propsals for all work being done?
Money is escrowed into a non interest bearing account and money is only released once inspection and verification of repairs have been satisfied.
The money is released to the borrower and you in turn are responsible for dispensing the money to the G.C. and contractors.
Does that answer your question?
The checks are generally written to both the borrower and the contractor correct?