Having a smooth and easy to understand draw request packet that you send to your lender for draws is important. You want the lender to see that you are professional, and have a reasonably good bookkeeping system. This will keep the lenders impressed and the money flowing for your new deals, assuming you have paid them on time and are making a profit.
Because we teach you within our system that we pay contractors twice a month, having a good system to get draw requests to your lender is important. Over the course of the 2 weeks that you accumulate invoices, you keep track of them, and then process them with this easy to use spreadsheet. Having a specific date that you send all invoices to your lender to draw down on your construction loan is important, and with this document, it is easy for your lender to understand and process, which keeps them happy and the money, keeps flowing!
