A Lender's Perspective: Pre-Construction Suggested Items for Project Management - a few things to consider.

[Barry Jekowsky]

For those that are Fixing and Flipping or Buying and Holding, I thought I would post some suggested tips when managing your own project.  This is from my construction control management experience and while most rehabbers, builders, developers and investors know a lot of these suggested steps, my posting is just meant as a helpful guide-line reminder, to assist you in your successful completion of future projects.  Let me know what you think and if you have any questions, please leave them here or even better, on my "Lending Page" - Instant Funder - Gap/Rehab Loan Program listing. Wishing you luck and success with all of your projects.  Best, Barry

Pre-Construction Suggested Items for Project Management

1. Building Permit requirements

2. Additional Insured requirements – (general & subcontractors)

3. Project Plan Set availability, if any

4. Quality control is the contractor’s responsibility to adhere to specifications

5. Subcontractor’s contact information list for lien waiver tracking

6. Progress payment (Draw) submittal requirements

a. Spreadsheet format with requested line item levels of completion

b. Lien waiver releases

c. Invoices for stored materials, services, etc

d. Design changes that may impacts costs

e. Contingency line item impacts

f. Progress Schedule changes

g. Copy of building permit cards

h. Inspection dates within 48 hours of request

i. It’s safe to assume that “If it’s not seen, it’s not going to be funded”

7. Discussion of project schedule, date of agreed work completion

8. Who has authority to approve project changes? 

[Barry Jekowsky]

Thanks, Sharif, I have many Borrowers that I will pass on your contact information to.

[Sharif Tawwad]

Please forward your parameters or lending requirement.

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Wells Fargo,Bank of America,Chase and Sovereign we are part of a

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bank product.

www.linkedin.com/pub/mister-tee/21/625/a9a/

Mister Tee [phone]

[e-mail]

[Barry Jekowsky]

Hey guys - if you comment, etc. - don't forget to like the blog?  I believe each entry is rated by likes, etc.

[Jeffrey Freis]

Good information. Thanks

We are a private investment bank with an active real estate finance division.

Jeffrey B. Freis, President

Jeffrey B. Freis Associates, Inc.

Tel: [phone]

Fax:[phone]

Email: [e-mail]

www.jbfreisassociates.com

[Barry Jekowsky]

Great idea!  Hey, I might become a "Private Lender Blogger" - my next profession - just kidding - don't think so.  Thanks Greg, that is a wonderful suggestion for my next blog!