40.2K
CEEvery day a project sits, it costs money.
Right now I’m losing $4,000 a month on this fix & flip in Charlotte because of delays from my hard money lender, Ternus.
This is not the bash them. This is only to explain my experience again, not to batch them.
When I closed on this deal, I was told draws usually take 2–3 days after approval. Sounds reasonable, right?
Reality: 14 business days.
If you’re a fix & flipper, you know how insane that is. Contractors stop working, timelines get pushed, and holding costs start piling up.
The only reason my last draw even got released was because I had to reach out to the owner directly. Instead of solving the issue, I was told I’m now blacklisted and they won’t extend my loan — after the delays already pushed my timeline back another month.
In this business, communication and speed matter.
Lenders can make or break a deal.
Fix & flippers… you already know.
#charlotterealestate #fixandflip #realestate #realestateinvesting #realestateadvice
@ceyvion.rei
