Exit First

How a file runs

One deal, start to finish.

Most people describing this work tell you what they offer. Here is the work itself, stage by stage.

This is an illustration of our process, not a client file. Numbers are representative.

  1. Lead
  2. Analysis
  3. Structure
  4. Funding
  5. Contract TC
  6. Title TC
  7. Rehab
  8. Closing TC
  9. Post-close

A transaction coordinator handles three of these. We handle the line.

  • Exit First handles or coordinates
  • What a transaction coordinator covers

The deal

An investor doing six flips a year wants to get to twelve without hiring a project manager. A 3 bed, 2 bath in a Phoenix suburb, under contract at $265,000 with hard money.

  1. Analysis

    The number the deal actually supports

    ARV defended at $385,000, not the $410,000 the investor hoped for, with the comps that get there and the ones that do not. Rehab range of $54,000 to $62,000 built line by line. Maximum allowable offer and a walk-away number set before any of it is emotional.

    Who
    We run the numbers and show our work. The investor decides whether to proceed.
    What you get
    A lender-ready PDF: ARV, comps, rehab range, maximum allowable offer, and the walk-away number.

  2. Funding

    The draw schedule mapped before you close

    The hard money lender's draw requirements read and mapped against the scope, so the first draw request is written and ready the day the investor becomes eligible. First draws slip two and three weeks when nobody walks the process in advance, and that is carrying cost on a loan that is already running.

    Who
    The lender sets the requirements. We map them and prepare the request. The investor submits it.
    What you get
    A draw schedule tied to the scope, and the first draw request ready to go.

  3. Contract and title

    Deadlines on a calendar, not in your head

    Executed contract checked for administrative completeness, every deadline and contingency calendared with reminders, escrow opened and title coordinated, and a written status to every party as the file moves.

    Who
    We open and run the file. The investor makes every decision and signs everything.
    What you get
    A deadline calendar, an open escrow, and one place where the file lives.

  4. Day one readiness

    The crew starts the morning after closing

    Power, water, rekey, lockbox, and trash service scheduled, and permit status confirmed, all before closing. Not after, when the crew is standing in the driveway and the water is off.

    Who
    We schedule and coordinate. The utilities, locksmith, and haulers are third parties doing the work.
    What you get
    A property that is ready to be worked on the first morning you own it.

  5. Rehab scope and bids

    Three bids against one scope

    A line-item scope of work written first, then bid. Three came back: $44,000, $57,500, and $61,000. The low bid left out the roof repair and the permits, which is why bids get leveled against a scope instead of compared as numbers. Leveled budget of $58,500 with contingency, broken into four milestone draws.

    Who
    The investor chooses the contractor and signs the contract. We write the scope, level the bids, and build the budget.
    What you get
    A line-item scope, a leveled bid comparison, a budget with contingency, and a four-draw schedule.

  6. While the rehab runs

    You find out in week three, not at the walkthrough

    Weekly photo and video updates requested from the contractor, and budget versus actual updated every week against the leveled budget. A cast iron drain line turned up in week three. The change order was reviewed against the scope and the contingency, with a written recommendation, and the investor made the call.

    Who
    The contractor runs the job. We track the plan, the money, and the paperwork, and we put a recommendation in writing. Every decision is the investor's.
    What you get
    A weekly budget versus actual, change orders reviewed in writing, and a record of what was decided and when.

  7. Selling

    A warm introduction, not a referral fee

    A warm introduction to an investor-friendly listing agent in that market, with the file context handed over so the conversation does not start from zero. Exit First takes no referral fee and has no interest in which agent is chosen.

    Who
    The investor chooses the agent and signs any listing agreement directly with them. Exit First is not a brokerage and does not market, list, or sell property.
    What you get
    An introduction, and the file context the agent needs on day one.

  8. Close-out

    One document, for the year you file taxes on this

    A close-out file covering what was built, at what numbers, every document on the file and where it lives. Built for someone filing taxes on more than one project.

    Who
    We assemble and deliver it. It is yours to keep.
    What you get
    The close-out file: scope, budget versus actual, draws, documents, and where each one sits.

This is BUILDER. $3,995 flat.

Book a strategy call

The deal

An out-of-state investor has a tired-landlord lead. The seller owes $182,000 at 3.25%, wants $240,000, and has said no to two cash offers already. The investor knows there's something here and doesn't know how to build it.

  1. Lead

    The conversation that was going nowhere

    The seller wants his number and won't move. A cash offer at $198,000 insults him. The investor gets him back on the phone and we join to collect the detail, occupancy, the loan, the timeline. The price was never the problem, the terms were.

    Who
    The investor leads the call. Ashlee joins for the details.
    What you get
    A written call summary and the terms the seller actually said yes to, so nobody is taking notes while they talk.

  2. Analysis

    What the property is really worth

    Comparable sales pulled and defended. ARV lands at $312,000, not the $340,000 the investor hoped. Rehab scoped at a $34,000 to $41,000 range. Every exit run: flip, BRRRR, wholesale, and creative.

    Who
    Exit First analysis.
    What you get
    A lender-ready PDF with the ARV, the rehab range, the exit comparison, the maximum allowable offer, and the walk-away number.

  3. Structure

    The shape the deal has to take

    Cash doesn't work at the seller's number. Subject-to the existing 3.25% loan, with a seller carry second for the difference, does. We model it, then we say why the alternatives don't fit.

    Who
    Exit First, in writing.
    What you get
    A structure recommendation with the math behind it, and the red flags we'd chase before committing.

  4. Funding

    Money lined up before it's needed

    Earnest money and the rehab draw are identified. A DSCR takeout is lined up for the refinance exit so the investor isn't looking for it in month five.

    Who
    Bench introduction, made for you.
    What you get
    A named lender with your file context already in their hands.

  5. Contract

    Papered off the terms you agreed

    The investor's purchase contract is executed. The addenda the investor designates, subject-to disclosure, seller carry note terms, and the due-on-sale acknowledgement, are completed from the written terms and routed for signature.

    Who
    Exit First coordination.
    What you get
    An executed file and a deadline calendar every party can see.

  6. Title

    The step that saves the deal

    The investor's usual title company reads the subject-to clause and goes quiet. We don't fight it. We take the file to a company we already know closes this structure in this state. Escrow opens the same week.

    Who
    Exit First title placement.
    What you get
    A title company that has closed this before, and a file that keeps moving.

  7. Rehab

    A budget somebody stands behind

    Line-item scope written first, then three contractors bid against the same scope. Bids leveled apples to apples, the low bid was low because it omitted the electrical panel. Final budget $38,600 with contingency, on a draw schedule tied to milestones.

    Who
    Exit First rehab scoping and bid leveling.
    What you get
    A scope, three leveled bids, a budget with contingency, a draw schedule, and weekly check-ins.

  8. Closing

    Nothing discovered on the last day

    Contingencies, inspection periods, and lender conditions tracked to the day. The one document the lender asked for on day nineteen was in their hands on day nineteen.

    Who
    Exit First coordination.
    What you get
    Weekly written status to every party, and a file that reaches the closing table with nothing left to chase.

  9. Post-close

    Set up so it runs without you

    Third-party servicing stood up for the seller carry note so the investor isn't collecting payments personally. Documents packaged and archived.

    Who
    Exit First post-closing setup.
    What you get
    A servicing account, a complete document package, and a file archive you can hand a lender or a partner.

That's the whole line.

Send us a deal and we'll tell you which parts of it you actually need.

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