How To Request a Draw
- 2-3 Business Days after funding, you will receive an email from Longhorn Investments to gain access to our draw request platform.
- If you already have an account, you can log in here
- The location and scope of work will determine the type of inspection required.
- Ensure you note how the inspector can gain access to the property.
- The typical Draw Fee is $150 for a single-family investment property.
Typically, it takes 3-4 business days to receive draw reimbursement funds. Once we have the inspection report, we will deposit the money into your account via ACH.
If you have any questions, please call us at 214-420-7343 or email us at draws@longhorninvestments.com.
How The Draw Process Works
Only AFTER the property has closed AND funded should rehab work begin...
Step 1: The borrower is responsible for paying contractors directly if they require funds upfront to begin rehab.
Step 2: The borrower is ready to be reimbursed for completed work and submits a Draw Request - available here
Step 3: Inspections are performed to verify that the items requested have been completed. The inspection report is sent to the lender for approval.
Step 4: The lender reviews the inspection report. Escrow funds are electronically released from the lender to the borrower. Turnaround time is typically 3-5 business days from the Draw request to the borrower’s receipt of the funds.
Inspection Fees: Inspection fees are $150 for all standard properties up to 2 doors. The inspection fee will be deducted from the approved draw funds released. The borrower can request as many or as few inspections as needed.
NOTE: Longhorn Investments does not release funds for work that has not been performed, including the start of rehab. Funds are only released for completed work verified by inspection. We do not release funds for deposits, down payments, receipts, or invoices.
If you have any questions, please call us at 214-420-7343 or email us at draws@longhorninvestments.com.
