Draw Management

BORROWERS, WE'RE HERE TO HELP!

WELCOME TO OUR "DRAW MANAGEMENT" INFORMATION PAGE

Hi Borrowers! We are ALWAYS here to help with any needs related to your draws.

Please reach out to us directly at draws@dev.techchart.io with questions or concerns!

_____________________________________________________

HOW-TO MANAGE YOUR DRAWS

Everything you need to know about how to figure, track, send in your spreadsheets,

and receive your loan draws, is right here in this short video!

 


FAQ’S

You’ve got questions, we’ve got answers!

 

  • How do I request a draw?

You will fill out your Master Draw Schedule on the coordinating draws sheet and email the form back to draws@dev.techchart.io.

 

  • What is the inspection process like?

We have two options for inspections:

– Truepic Inspection: This newer process we have been implementing works in place of having a physical inspector come out to the property. With the Truepic process, we send you, or someone you choose, a link to an app that allows you to take photos onsite, in real-time. The turnaround time to get funded with this approach is typically two days faster than having the inspector come out.

We have seen a very good turnout with the Truepic process, as it allows you full control of the detail of photos and the ability to work within your schedule. In addition, we get reports back faster once the photos are taken, which means that you get your money FASTER!

– A “Normal” Inspection: This is where we order an inspection with a 3rd party, and have an inspector come out to the property.

 

  • Are there any draw fees?

Yes, there is a $250 fee with either type of inspection that is completed. We take the fee directly out of the funds we send out for the draw, so you don’t have to worry about making any kind of payment.

 

  • How many pictures do I need to take doing Truepic?

More is always better! A good benchmark to meet is to take two or three pictures of each room, as well as any specific pictures of work that has been completed (i.e. condensers, furnaces, stairs, etc.).

 

  • Do I need to provide receipts for the work completed?

Receipts are always handy to have on file. They are not always necessary but are good for items such as roofs, foundation repairs, or other items that may be hard to photograph.

 

  • Can I reallocate funds if I run into issues with the project?

Yes. We can reallocate any funds that haven’t been disbursed yet, as long as the project’s budget remains feasible.

 

  • What is the turnaround time to receive funds?

We aim to have funds to you within three to five days from the time you request the draw, not including any delay in the Truepic photos being taken, or an in-person inspection being scheduled.

We have funded draws as quickly as the NEXT DAY, in some cases!

What makes us different? Just ask our clients

“iFC has unleashed us as builders! Previously we were building one or two new constructions at a time, we are now able to do five-plus at a time!”

--—iFC Borrower: New Construction: Gastonia, North Carolina: $136K 

THE iFC TEAM: WE ARE REAL ESTATE SAVVY, ENTREPRENEURIAL INVESTORS (WHO GIVE A DAMN ABOUT YOUR SUCCESS!)

We have been buying and building real estate in the Greater Philadelphia market since 2008. We built this lending platform for investors after our own personal lending experience, to disrupt the way traditional lending is done for investors. The iFC Team works relentlessly to make sure our customers’ experience is nothing shy of outstanding. Supportive of one another, and of our borrowers, iFC Team members are the type of people you want to be around—we inspire and motivate. Our intention is to create successful, long-term, transparent relationships with our partners and clients. Learn More