You’ve secured financing for your fix-and-flip project. The property is under contract, closing is scheduled, and you’re ready to start the transformation. But here’s the question we hear constantly from investors working on their first or second flip: how do I actually access my renovation funds once the project starts?
If you’ve felt confused about the draw process, you’re not alone. At HiFi Hard Money, we’ve funded thousands of projects across major markets in Texas, and we know that understanding how rehab draws work is critical to keeping your timeline on track and your budget intact. Let’s walk through exactly when and how you get your renovation funds when you’re working with us in Dallas-Fort Worth, San Antonio, Austin, or Houston.
How Rehab Draws Work With HiFi Hard Money
The draw process is straightforward. You’re not jumping through hoops or waiting weeks for approvals. We designed our system to match the pace of real estate investing in Texas, where speed and simplicity matter.
What Is a Rehab Draw
A rehab draw is simply a release of renovation funds from your loan as work progresses on your property. Instead of receiving all your rehab money upfront, you request funds in stages based on work completed. This protects both you and us while ensuring contractors stay accountable and projects move forward smoothly.
Our One Inspection Rule
Here’s where we’re different. We typically conduct just one physical inspection when your project hits about 40 to 50 percent completion. That’s it. For the rest of your draw requests, photos and videos are enough. We trust you, and we know most investors are managing multiple projects and don’t need someone hovering over every detail.
The inspection fee is deferred until you sell the property. No money out of pocket during your project.
Same Day or Next Day Turnaround
When you submit a draw request, we process it with same-day or next-day turnaround. We’re not making you wait a week or two while invoices pile up and contractors get impatient. Submit your request with updated photos or videos, and we’ll move fast to get those funds wired to you.
Wire fees are also deferred until closing. We want your cash working on the property, not disappearing into fees.
The Scope of Work We Prefer
We work with whatever scope of work format you provide, but we prefer a simple one-page layout. Keep it clear, keep it organized, and we’ll keep the process moving. You don’t need a 10-page construction document to get your drawings approved.
Who Qualifies for Fast Draw Turnaround
If you’re working with us for the first time, expect a closing timeline of about 5 business days. We move quickly, but we also make sure everything is set up correctly from the start. For returning investors who’ve already closed deals with HiFi, we can turn projects around in as little as 3 business days. You’ve been through the process, we know your work, and we can move even faster.
Our fix and flip loans cover up to 75 percent of your After-Repaired Value for single-family homes in Texas’s major markets. We’ll also consider small multifamily properties on a case-by-case basis, depending on today’s market conditions.
What About Upfront Costs
Here’s what makes our program investor-friendly. We defer everything. Points, third-party fees like appraisals and loan docs, your first month’s prorated interest, wire fees, inspection fees, and extension fees. All of it gets pushed to the end when you sell the property. This keeps more capital available for your project and minimizes carrying costs while you’re renovating.
We’re also completely transparent about our pricing. The appraisal cost you see is what we actually pay. The doc prep cost is what we actually pay. We don’t charge administrative fees or underwriting fees on top of real costs. No markup, no hidden charges.
Planning Your Draw Schedule
Most investors schedule draws around major project milestones. Demo and cleanup. Rough-ins for plumbing, electrical, and HVAC. Drywall and paint. Finish work like flooring, countertops, and fixtures. Final touches before listing.
You control the timing based on your contractor’s progress. Just make sure you’re documenting the work with clear photos or videos that show completion of each stage. When it’s time for that one physical inspection around the halfway point, we’ll coordinate a date that works for your schedule.
Ready to Get Started
If you’re planning your next flip in Dallas-Fort Worth, San Antonio, Austin, or Houston, we’re here to make the financing part simple. Our draw process is built for speed and transparency, so you can focus on the renovation itself, not paperwork and waiting.
Contact us at (972) 630-6676 or email info@hifihardmoney.com. Whether you’re a first-time flipper or a returning investor, we’ll walk you through the process and get you funded fast.
FAQs
How many inspections does HiFi require during a flip?
We typically conduct just one physical inspection when your project reaches approximately 40 to 50 percent completion. For all other draw requests, photos and videos are sufficient. The inspection fee is deferred until you sell the property.
How fast can I get my rehab funds after submitting a draw request?
We process draw requests with a same-day or next-day turnaround. Once approved, funds are wired to you. Wire fees are deferred until closing.
What properties are eligible for HiFi’s fix-and-flip loans in Texas?
We focus on single-family homes in major markets across Texas, including Dallas-Fort Worth, San Antonio, Austin, and Houston. Small multifamily properties may be considered on a case-by-case basis depending on current market conditions.
Do I pay the inspection and wire fees upfront?
No. Inspection fees and wire fees are deferred until you sell the property. This is part of our zero upfront fees program designed to keep your capital working on the project.
