I was recently contacted by CFSI to perform Draw Inspections. I’m a new inspection company but have many years of inspection qualifications. I’m eager to make as much money as I can but I have a few questions though.
Has anyone worked with CFSI? If so, what are your thoughts?
How difficult are Draw Inspections?
What is an appropriate rate for payment per inspection?
Are payouts issued in a timely manner?
How long do these inspections typically last?
Any other comments are surely welcome. Thanking you in advance.
Sorry to revive an old thread but I want to leave this here for other folks future reference.
I have a hard money loan from LendMe with construction reserves and CFSI is their draw management company. The entire process with CFSI has been a nightmare. It’s been over two weeks, 32 emails back and forth, and countless hours of my time wasted filling out their PDF forms manually. Nothing is automated. There is no website to log into. You’re dealing with people in another state so you will be lucky to get one or two replies per business day. I will never take a loan again from any lender who uses CFSI.
My first question is why did you go to a Hard Money Lender? Obviously CFSI’s reported delays are going to cost you a lot!
Have you spoken to LendMe about CFSI’s reported slow action? I think you should be speaking with an Attorney to see how you can protect yourself from these conditions and possibly even obtain recompense either from CFSI or LendMe.