Problem: House flippers relying on hard money lenders often face a cumbersome process when requesting loan draws. Lenders typically require detailed expense lists, receipt backups, and proof of completed work (photos). Currently, users must manually compile this information, leading to time-consuming administrative tasks and potential delays in receiving funds. Solution: We propose integrating a 'Loan Draw Tracker' directly into FlipperForce's Expense Tracker. This feature will allow users to easily tag individual expenses to specific draw requests (e.g., Draw #1, Draw #2). Upon tagging, the system will automatically generate a comprehensive report that includes: A detailed list of tagged expenses. Associated receipt images. An option to upload photos demonstrating completed work. Additionally, a dedicated 'Draw Dashboard' will provide an overview of: The original budget for each draw. The total amount spent to date. The amount drawn to date. The remaining balance for each draw. This dashboard will offer real-time visibility into the loan draw process, enabling users to track their progress and manage their finances more effectively. Benefits: Simplified Draw Requests: Generate lender-ready reports with just a few clicks. Faster Reimbursements: Streamline the documentation process, reducing delays in receiving funds. Improved Financial Tracking: Gain real-time insights into draw progress and budget adherence. Enhanced Lender Communication: Provide clear and organized documentation to build trust and transparency. Better project financial oversight: by keeping track of the budget, spending and remaining funds.
