Hiring a fund control company is an ideal way for lenders to manage funds during a construction project and make certain that the general contractor, subcontractors and suppliers are paid quickly and accurately. Fund control provides a layer of protection between the lender and general contractor, ensuring that monies are spent at the right time and in accordance with the approved construction budget. A fund control company provides services like cost reviews and site inspections, which photo document progress, further safeguarding timely and accurate project due diligence and reporting.Read more
December 13, 2021
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A Guaranteed Maximum Price contract, known as a G-MAX or GMP contract, is a construction agreement that puts a maximum cap on the agreed upon project costs and scope of work, regardless of the actual costs incurred. G-MAX contracts shift a significant amount of risk to the shoulders of contractors while giving customers the peace of mind that accompanies a limit on cost. When a G-MAX contract is in place, cost overruns are covered by the contractor. If the project comes in under budget, the terms of who benefits are deal specific. In some instances, savings may be shared, or an acceleration bonus is incorporated as an incentive to complete a project early.Read more
December 2, 2021
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You know the feeling — when your heart pounds against your ribcage, the hairs stand straight up on the back of your neck and cold fingers slip down your spine.
No, we’re not talking about a ghost encounter — we’re talking about something much scarier. If you’re a construction project manager who is feeling the cost, schedule and scope of a project creeping up on you, who you gonna call? QuickDraw!
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October 29, 2021
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Greg Norris, principal and president of QuickDraw Fund Control, made news in August when he was featured as a “Private Lending Titan” in the most recent edition of Originate Report magazine. The magazine is distributed via print and digital media to more than 30,000 loan originators, lenders, investors and other professionals in the non-conventional lending industry nationally.Read more
September 22, 2021
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A surge of homebuyers fled cities during the pandemic, seeking suburban and rural communities where larger homes and sizable lots provided space for families to stretch out, work and play in a socially distanced environment. Many who could not previously afford a home in the city found they could afford to buy in outlying areas. Read more
September 21, 2021
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Ever hear of a guy named Bill McBride? He’s a retired Southern California technology executive who is famous for predicting the housing crash of 2007. His economics blog, “Calculated Risk,” has been accurately predicting economic events since the early 2000s. These days, he’s chiming in on the current absurdity we call the housing market. McBride recently told The Atlantic, “I’ve never seen anything quite like this. It’s a perfect storm.”Read more
August 13, 2021
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According to real estate data platform CoreLogic, homeowners with mortgages enjoyed a 20 percent jump in equity in the first quarter of 2021 over the same period in 2020. That translates to roughly $2 trillion, or about $33,000 per borrower. Read more
August 2, 2021
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With so many people working and schooling at home since the pandemic began, the demand for more living space and bigger yards has grown to epic proportions. Historically low-interest rates have added to housing demand — driving swarms of first-time buyers out of cramped apartments and into the marketplace and making move-up buyers all the bolder in their quest for bigger houses.Read more
July 22, 2021
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Beginning in February 2019, work began on a $32-million multifamily residential development at 5th Street and Oxford Avenue in L.A.’s Koreatown.Read more
July 15, 2021
QuickDraw Fund Control
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On May 1, 2021, QuickDraw Fund Control sponsored the YAPS 9th Annual Charity Golf Tournament at the Yucaipa Valley Golf Club. The Yucaipa Animal Placement Society (YAPS) is a no-kill, nonprofit animal shelter that strives to prevent euthanasia of dogs and cats in shelters throughout the region by providing them a temporary safe haven until a permanent loving home can be found.Read more
July 6, 2021
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After reaching historic highs during the pandemic, lumber prices are finally trending downward.
A combination of factors, including mill shut-downs, tariffs, massive forest fires that burned future stock and the demand for new housing, renovations and other at-home projects, have all contributed to the unprecedented demand for construction-grade lumber since mid-2020. Read more
July 2, 2021
QuickDraw Fund Control
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Since the start of the pandemic, pet adoption rates have soared as people have turned to animals for much-needed companionship and emotional support. The nonprofit Society for the Prevention of Cruelty to Animals Los Angeles reported that adoptions were double their usual rate in late June 2020, prompting waiting lists for puppies and certain dog breeds.Read more
May 7, 2021
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As a trusted expert between lenders and borrowers during the construction process, QuickDraw Fund Control supports both the preservation and improvement of existing structures, as well as the construction of new buildings and dwellings that enhance commercial and residential sites throughout California and the Western US.Read more
May 4, 2021
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QuickDraw Fund Control, a leading provider of construction fund management, recently expanded services to Sacramento, California, in response to the increasing demand for housing in the region. At the helm is Relationship Manager Steve Board, who has been performing draw inspections with QuickDraw for more than eight years.Read more
February 18, 2021
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In December 2020 there were 449,000 fewer homes on the market than in December 2019 — a 36.9% decrease that also marked the first time that active listings fell below 700,000, according to realtor.com records. However, sellers listed new homes for sale at nearly the same rate as the previous year — just 0.8% down year-over-year (YOY) nationally.Read more
January 18, 2021
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Though it’s clear that many New Yorkers have fled the state’s capitol, what’s more interesting is where Americans are moving to. The COVID-19 pandemic has unveiled unusual geographical trends. Read more
January 15, 2021
QuickDraw Fund Control
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The year 2020 ended with nearly the lowest mortgage rates on record, offering hopes of cheap financing for buyers. The week ending Dec. 31 closed with a 30-year-fixed-rate mortgage averaging 2.67%, slightly up from the new record low of 2.66% set the week prior.Read more
January 8, 2021
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The US housing market experienced a boom in the last quarter, thanks to low interest rates. This boom fueled a new mortgage debt record of nearly $10 trillion, according to a recent press release by the Federal Reserve Bank of New York.Read more
December 9, 2020
QuickDraw Fund Control
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At the beginning of the COVID-19 pandemic, Zoom meetings skyrocketed in popularity across the globe. Suddenly every major corporation was holding digital meetings via Zoom and proclaiming its near-magical ability to keep employees connected and engaged.Read more
November 10, 2020
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2020 was a year of the unexpected. As we head into the new year, it is a time for repose, reflection and revaluation. The election is now behind us, but as COVID numbers continue to rise, the variables driving the cost of housing remain unpredictable. We'd like to hear your thoughts about how these events are impacting your business, and what you see trending as we go into 2021. Please call Greg at: (818) 254-5823. Your insights are invaluable as we strive to keep our clients informed about the state of our ever-changing market.Read more
November 6, 2020
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Earlier this year, the COVID-19 pandemic forced markets and buyers to hit the pause button and wait for a more predictable and stable economy. Amidst the uncertainty, one trend has surprised economists: the major boom in the housing market of homes costing $1 million and more.Read more
November 2, 2020
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Dawn Killough, author of “Green Building Design 101” and construction writer for one of the building industry’s largest content resources, Levelset, recently asked QuickDraw Fund Control Relationship Manager Steve Board to lend his expertise to her blog entitled, “What is a Construction Draw Inspection?”.Read more
October 29, 2020
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Post-COVID-19 Strategy: Aim Low
Content for this edition of “Feet on the Street” comes from an interview with Mr. Kam Takhar, a good friend, terrific client and principal of Crowne Development, Inc. — a leading homebuilder located in Yuba City, California. As always, we hope you enjoy!
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October 27, 2020
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In the midst of 2020’s many uncertainties, one thing is holding steady: the housing market. Read more
October 2, 2020
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The housing market is being touted as the “bright spot” in this uncertain pandemic economy, as record-low interest rates make home buying affordable for consumers.Read more
September 30, 2020
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In moments, it feels really weird.
For this edition of “Feet on the Street,” our content comes from an interview with Mr. Justin Esayian, a good friend and Senior Vice President of The Hoffman Company, a leading land brokerage firm that serves California and Nevada. As always, we hope you enjoy.Read more
August 31, 2020
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Steve Board joined QuickDraw Fund Control as Relationship Manager in August 2020, bringing with him more than 35 years of experience fostering customer relationships for such notable companies as Google, Cisco, AT&T, Ricoh, Wells Fargo, Bank of the West, IBM and many more. Steve has won multiple awards for service excellence, reflecting his talent for connection and commitment to creating a seamless customer experience.Read more
August 27, 2020
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Jeremy Noble brings supercharged energy and fresh ideas to QuickDraw Fund Control in his role as Systems Analyst and Software Developer. A recent cum laude graduate of Cal State University, San Bernardino, Jeremy worked for QuickDraw while he was earning his degree in computer science. After a stint in med tech following graduation, Jeremy was delighted to return QuickDraw in April 2020 as a key member of the team tasked with helping the company sort its systems challenges and bring its technology up to date.Read more
August 25, 2020
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It’s all Surging: Homes Sales and Suburban Sprawl, COVID-19, Material Prices and Looming Shortages
For this edition of Feet on the Street, our content comes from multiple companies within and around the building industry. We hope you enjoy!Read more
August 10, 2020
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As businesses slowly start to re-open across California, construction schedules are filling up and contractors are heading back to work. An air of optimism is helping propel projects forward and encouraging workers to return with a renewed sense of purpose and commitment. Read more
June 25, 2020
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In mid-2018, QuickDraw Fund Control was selected to provide Inspection and Fund Control services for the renovation of the property located at 1250 Bel Air Road, Los Angeles, CA 90077. For this project, we worked with Skylark Capital Management, Inc and Roman James Design Build.Read more
June 11, 2020
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It’s like navigating a shipping lane, and your GPS went out. You know where you are and where you’re going, but the map and weather forecast are gone. Everyone’s trying to figure it out.
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May 18, 2020
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Like politics, all market conditions and construction progress are local.
This week, we continue to provide information, new trends and real-time updates to what we saw and learned across different construction platforms and locations.
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April 21, 2020
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It has been another fluid week of firsts.
We saw firsthand and spoke with clients in Washington, Ohio, Nevada and California.
In California, a series of rainstorms dropped record amounts of April rain, which unfortunately impacted construction progress.Read more
April 13, 2020
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When news of the virus emerged, our phones starting ringing with calls from our Lender clients. Like all of us in our respective spaces, they wanted to know what was happening in the field and what QuickDraw Fund Control was seeing firsthand.Read more
April 7, 2020
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Greg Norris, Principal and Founder of QuickDraw Fund Control, an industry-leading Los Angeles-based firm providing fund control services for commercial and residential projects, has committed to serving as a board member for three years on the BICA Board of Directors, a Rancho Cucamonga-based company providing credit services to the construction industry, in a business development capacity.Read more
February 4, 2020
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The site inspection phase is an important part of the fund control process. Before a draw can be approved, the construction site must be inspected. A construction site inspection involves making sure progress is moving along according to the signed service agreement governing the lender-borrower relationship. Read more
September 15, 2019
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Over the years, the QuickDraw Fund Control team has grown into a driving force within the construction and fund control industries. The close-knit team of five has been trusted by many of the nation’s largest brands, including Rite Aid, 7-Eleven, Starbucks, Dollar General, Sprouts, Total Wine and many institutional and private lenders. Read more
September 10, 2019
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Every construction project requires many different team players, including lenders, borrowers, contractors, subcontractors, buyers and title insurers. Title insurers play a unique role throughout the process, providing protection for lenders and buyers. Recent changes in title insurance coverage have impacted the financial side of projects — for the better.Read more
July 16, 2019
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Lenders, borrowers and builders have been keeping a close watch on tariffs — and threats of tariffs — on building materials like lumber, steel, granite and marble. Just last month, “import taxes on $200 billion of Chinese goods jumped to 25%,” reports The Associated Press. In the construction industry today, the question on everyone’s mind is, “How will these tariffs impact me and what can I do about it?”Read more
July 5, 2019
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The past year has been one for the books. Trade tariffs, rumors of trade wars, and rising prices of construction goods and materials have kept journalists busy, Twitter abuzz, and the construction industry watching closely. Tariffs have been imposed on steel imports, aluminum imports, and Chinese goods that include construction-related items.
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December 10, 2018
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But only with QuickDraw Fund Control!
On your own, juggling municipalities, contractors, and deadlines looks something like this: you spend hours sending follow-up emails, leaving voicemails, and chasing down invoices.
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December 4, 2018
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When it comes to new construction, managing invoices and payments during the course of the project can be arduous work. As new construction continues to increase, this makes having a third-party fund control partner more important than ever.Read more
November 6, 2018
QuickDraw Fund Control
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When you want to protect your construction investments, you need a fund control company that you can trust. A good fund control provider will act as a vital intermediary between the lender and the borrower. They will keep track of all stages of the project and make sure the funds are released in a timely manner throughout the construction process.Read more
November 2, 2018
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At QuickDraw Fund Control, we enjoy creating long-lasting partnerships alongside each lender and borrower client. The amount of experience under our belt has provided us with ample opportunity for repeat business with our lenders. One of those lenders is Partners Capital Solutions (PCS).Read more
August 10, 2017
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We at QuickDraw Fund Control are excited to share that our team was recently awarded the two fund control contracts. Barton Estates located in Hollywood, California and Knowlton Luxury Residences, located in The Heights in Los Angeles, California.Read more
June 26, 2017
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