The Capital Region Funding Checklist
This is what I look at before a project gets a term sheet. Run your next deal against it before you make the offer.
1. A signed purchase contract
No term sheet goes out without one. It tells me the price, the timeline, and that the deal is real.
2. Purchase price at or below 70% of your realistic ARV
Use comps that actually sold in the last six months within a half mile — not asking prices.
3. A renovation budget you can defend line by line
Renovation budgets are generally considered up to $75,000. A contractor scope with real numbers beats a round estimate every time.
4. Your own funds toward the purchase
Purchase financing may be available up to 90% of the purchase price for qualifying transactions. Higher leverage may be considered when supported by borrower equity, additional collateral, or a favorable purchase price.
5. At least $20,000 in liquidity left after closing
Reserves are funds available to cover project costs, interest, insurance, taxes, and unexpected expenses. This is the number that keeps good deals on track.
6. A track record of about 3+ completed projects
Experience is one factor in the review. Newer investors may be considered when the property, budget, reserves, team, and exit strategy provide appropriate support.
7. The borrower lives locally and the property is local
You live in the area and the project is within 45 miles of Albany. Local borrower, local project.
8. An exit you can name today
An exit strategy explains how you expect to repay the loan — a sale, a refinance into a rental, or another documented repayment source.
9. A carry cost you have actually calculated
Loans are generally interest-only over 12 months, with current guidelines of 12%–14% interest and 1–3 points, a three-month minimum interest amount, and interest generally applied only to funds advanced.
10. Your $48 TransUnion SmartMove report ready to run
That happens after a signed term sheet and is paid directly to TransUnion. It is the only lender-related cost we ask for before closing; third-party closing costs still apply.
Get a copy in your inbox
No newsletter, no drip campaign — just the checklist and a real person you can call.
Have a deal that checks the boxes?
Call and talk it through with the decision-maker, or send the details. We aim to provide an efficient initial review once we have the basic property, borrower, financing, and exit-strategy information.