From the Underwriting Desk

Notes on Lending

Working notes from the people who underwrite these files. What holds a deal together, what pulls it apart, and what we would do differently.

October 6, 2026 · 4 min read

Your First Flip: What a Lender Actually Looks At

First-time investors assume zero completed projects disqualifies them. It does not. The scope of work and the cash behind it matter far more.

September 22, 2026 · 5 min read

The Real Cost of a Hard Money Loan Is Not the Rate

Rate is the number investors compare and the number that matters least. Hold length, draw timing, and closing speed do more damage to a flip's margin.

September 8, 2026 · 5 min read

Why Fix and Flip Deals Fall Apart After the Term Sheet

A term sheet is an opinion about a deal we have not fully seen yet. Most flips that die between terms and closing die for the same six reasons.