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Frequently Asked Questions

  • Do I need insurance on a flip?
    Fast Track Improvements will not start any work until a policy is active and your insurance information is sent over to our team.
  • How do I communicate with the Fast Track Team?
    All Closing/Purchase Related communication should be made via email with your realtor and closing coordinator. All Rehab Related communication should be made on our project management system "Jobtread" inside the portal.
  • When will my rehab start?
    Your rehab can begin as soon as the scheduled crew assigned to the project is available, typically within 30 days after you close on the property.
  • How long should my rehab take?
    Our team can provide an estimated completion timeframe, but it can vary due to factors like weather, material delays, or crew issues. We work to complete the project as quickly as possible.
  • How often should I expect to receive updates?
    Our team will provide photos before the project starts, every time a draw is requested, and upon completion.
  • When should I expect my Bid request/Scope of work back?
    It typically takes our team 2-7 days to provide a detailed proposal. This turnaround time varies depending on the size of the project and various other factors.
  • How does the Payment Process work?
    For projects over $10,000 - Initial deposit of â…“ of the overall project cost is due to secure your spot on our schedule, followed by the second payment of â…“ halfway through the project, and the final payment of â…“ upon completion. For projects under $10,000 - Initial deposit is 1/2 of the overall project cost, with the final payment due upon completion. All requested draws and payments must be sent within two business days to avoid delays or additional charges.
  • When a draw is requested, how do I know what work has been completed?
    At every draw request, our team will provide photo updates to show what work has been completed since the initial deposit or previous draw request.
  • I have a lender who reimburses after work is complete, how does that work?
    Most lenders operate on a reimbursement system, only funding work that has been completed. We aim to give you advance notice when we are approaching a draw point so that you can make arrangements with your lender. We then have a 5 day grace period for the draw request to allow for you to gather funds. It is typical for an investor to have to cover the draw payment for a short window while waiting on reimbursement from the lender.
  • How do I handle utility set-up for my property?
    Fast Track Improvements assists with electric activation to start the rehab process. However, water set-up requires owner documentation. We provide a step-by-step guide to help owners navigate the water set-up process, ensuring a smooth transition.
  • Do you facilitate water turn-on for properties?
    While we handle electric set-up, water turn-on requires owners to submit specific documentation. We guide owners through the process and offer assistance in coordinating water turn-on appointments, if necessary.

HELPFUL INSIGHTS

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