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All Forum Posts by: Doran Summers

Doran Summers has started 21 posts and replied 497 times.

Post: buy renovate rent refinance

Doran SummersPosted
  • Lender
  • Chicago, Il
  • Posts 608
  • Votes 70

@Jeff Schechter, may I send a connection as well?

What’s the purchase price of the four unit?

Post: buy renovate rent refinance

Doran SummersPosted
  • Lender
  • Chicago, Il
  • Posts 608
  • Votes 70
Ryan Thompson what’s your typical purchase price for acquisition and rehab and arv? Most loan amount for long term is min of $75,000.
Also, As a member of an LLC, you should have received a copy of your company's operating agreement when you signed it. If you no longer have it, you can acquire a copy. Every state has different rules regarding the governance of LLCs, but most states require that each LLC appoint a registered agent for legal purposes.
Do you have an registered agent? Try requesting it from them.
Usually the sources I know charge 10% and 2 points. Usually for those who flipped at least 6 in the past 24 months.

Post: Looking for private lender vetting advice

Doran SummersPosted
  • Lender
  • Chicago, Il
  • Posts 608
  • Votes 70
Adam Wigdorski there’s a few lenders who fund the Buffalo area. It depends on what you wanting to do. If it’s flipping then they may take a look if the loan amount is over $50,000. And $75,000 of buy and hold.

Post: Newbie living in Honolulu, HI

Doran SummersPosted
  • Lender
  • Chicago, Il
  • Posts 608
  • Votes 70

Sound like you may be looking to Investment in different states. What states did you have in mind?

Post: 90 Day Goals: Purchase 20 to 30 Units In Texas

Doran SummersPosted
  • Lender
  • Chicago, Il
  • Posts 608
  • Votes 70

@Stephanie P., I just called you.

Post: 90 Day Goals: Purchase 20 to 30 Units In Texas

Doran SummersPosted
  • Lender
  • Chicago, Il
  • Posts 608
  • Votes 70

he has a few properties in mind at the moment.