All Forum Posts by: Doran Summers

@Rocco Swinney did you speak with banks or actually hard money lenders? Lenders want and prefer to close I. Llc. Banks want you to close as individuals and max is 10 property under your name. If you wanting to protect your credit score then llc is way to go. Once you make a purchase under your name the dti ratio may hurt your score.

@Matt Rosenbohm what’s type of deals are you looking for? Ltv? Purchase price? Rehab? Arv? Experience such as how many flips have you completed in the last 3 years? Credit scores? Do you own any rentals?

@Lou Vascek have you tried liking with a Non QM lender. Rates may be a little higher but atleast you get the deal done in 30 days. It’s basically a no doc loan.

@Anthony Barrueco you should have your team together so it makes the process smoother. Real estate agent(s), contractor(s), title company, lenders, property management, etc.

@Elandrous Peoples no. Let’s say banks won’t touch it because it needs rehab. Plus if it was fully rented and the value is $100k the max they would do is $80,000. 80% ltv.

If you needed money for purchase and rehab most lenders will do 70% of the arv. So let’s say The arv is $100k the max a lender will fund is $70,000.

@Razul Wallace. What state is the property located? What state do you live in?

@Jenny Chou why not invest in your own back yard first? Are you from San Antonio? Or invest in other cities driving distance so you can be local.

@Corey Kessler what’s the ltv now?

@D'Juan James yes

@D'Juan James did they say why?