Processing Requirements
Realtypreneur Processing Requirements
1. Completed application
2. Engagement Contract (signed and fully completed)
3. Articles of Incorporation (Corporation) or Articles of Organization (LLC) that has been stamped and filed with the applicable Secretary of State
4. Signed Operating Agreement for all associated entities (LLC’s must show % ownership) Developer’s biography showing real estate/flipping experience within the last 3 years Property purchase contract (signed and dated by seller and buyer)
5. Renovation budget outlining all costs and draw schedule
6. Active general contractor’s or subcontractors license (if applicable)
7. General contractor’s insurance policy showing at least 1 million in general liability protection
8. Homeowner’s insurance policy and proof of payment or billing information. See REALTYPRENEURS’ Homeowner’s Insurance Requirements.
9. Bank statement from previous month (all pages) and, if necessary, additional investment statements (i.e. investment accounts, 401ks, etc.) showing proof of funds Down payment, origination fee and closing costs (title, escrow and insurance); 6 months of interest payments
10. Entity’s EIN
11. Current driver’s license for all entity members
12.Borrower’s attorney information (if applicable)
2. Engagement Contract (signed and fully completed)
3. Articles of Incorporation (Corporation) or Articles of Organization (LLC) that has been stamped and filed with the applicable Secretary of State
4. Signed Operating Agreement for all associated entities (LLC’s must show % ownership) Developer’s biography showing real estate/flipping experience within the last 3 years Property purchase contract (signed and dated by seller and buyer)
5. Renovation budget outlining all costs and draw schedule
6. Active general contractor’s or subcontractors license (if applicable)
7. General contractor’s insurance policy showing at least 1 million in general liability protection
8. Homeowner’s insurance policy and proof of payment or billing information. See REALTYPRENEURS’ Homeowner’s Insurance Requirements.
9. Bank statement from previous month (all pages) and, if necessary, additional investment statements (i.e. investment accounts, 401ks, etc.) showing proof of funds Down payment, origination fee and closing costs (title, escrow and insurance); 6 months of interest payments
10. Entity’s EIN
11. Current driver’s license for all entity members
12.Borrower’s attorney information (if applicable)
1. Completed application
2. Term Sheet(signed and completed)
3. Articles of Incorporation (Corporation) or Articles of Organization (LLC) that has been stamped and filed with the applicable Secretary of State
4. Operating Agreement for all associated entities (LLC’s must show % ownership)
5. Certified true copy or copy of recorded Deed (Refinance); or signed property purchase contract (Purchase)
6. Homeowner’s insurance policy and proof of payment or billing information. See Patch of Land Homeowner’s Insurance Requirements.
7. General contractor’s insurance policy showing at least 1 million in general liability protection
8. Bank statement from previous month (all pages) and, if necessary, additional investment statements (i.e. investment accounts, 401ks, etc.) showing proof of funds Down payment, origination fee and closing costs (title, escrow and insurance); 6 months of interest payments
9. Entity’s EIN
10. Current driver’s license for all entity members
11. Borrower’s attorney information (if applicable)
12. Lease agreement (if applicable)
2. Term Sheet(signed and completed)
3. Articles of Incorporation (Corporation) or Articles of Organization (LLC) that has been stamped and filed with the applicable Secretary of State
4. Operating Agreement for all associated entities (LLC’s must show % ownership)
5. Certified true copy or copy of recorded Deed (Refinance); or signed property purchase contract (Purchase)
6. Homeowner’s insurance policy and proof of payment or billing information. See Patch of Land Homeowner’s Insurance Requirements.
7. General contractor’s insurance policy showing at least 1 million in general liability protection
8. Bank statement from previous month (all pages) and, if necessary, additional investment statements (i.e. investment accounts, 401ks, etc.) showing proof of funds Down payment, origination fee and closing costs (title, escrow and insurance); 6 months of interest payments
9. Entity’s EIN
10. Current driver’s license for all entity members
11. Borrower’s attorney information (if applicable)
12. Lease agreement (if applicable)
1. Completed application
2. Term Sheet(signed and completed)
3. Articles of Incorporation (Corporation) or Articles of Organization (LLC) that has been stamped and filed with the applicable Secretary of State
4. Operating Agreement for all associated entities (LLC’s must show % ownership)
5. Certified true copy or copy of recorded Deed (Refinance); or signed property purchase contract (Purchase)
6. Homeowner’s insurance policy and proof of payment or billing information. See Patch of Land Homeowner’s Insurance Requirements.
7. General contractor’s insurance policy showing at least 1 million in general liability protection
8. Bank statement from previous month (all pages) and, if necessary, additional investment statements (i.e. investment accounts, 401ks, etc.) showing proof of funds Down payment, origination fee and closing costs (title, escrow and insurance); 6 months of interest payments
9. Entity’s EIN
10. Current driver’s license for all entity members
11. Borrower’s attorney information (if applicable)
12. Lease agreement (if applicable)
2. Term Sheet(signed and completed)
3. Articles of Incorporation (Corporation) or Articles of Organization (LLC) that has been stamped and filed with the applicable Secretary of State
4. Operating Agreement for all associated entities (LLC’s must show % ownership)
5. Certified true copy or copy of recorded Deed (Refinance); or signed property purchase contract (Purchase)
6. Homeowner’s insurance policy and proof of payment or billing information. See Patch of Land Homeowner’s Insurance Requirements.
7. General contractor’s insurance policy showing at least 1 million in general liability protection
8. Bank statement from previous month (all pages) and, if necessary, additional investment statements (i.e. investment accounts, 401ks, etc.) showing proof of funds Down payment, origination fee and closing costs (title, escrow and insurance); 6 months of interest payments
9. Entity’s EIN
10. Current driver’s license for all entity members
11. Borrower’s attorney information (if applicable)
12. Lease agreement (if applicable)