All Forum Posts by: Donald Banks

Hello BP Community,

Please answer these 3 questions to see if this is the right funding alternative for you:

Are you new to investing and don't have a long track record of successful flips?

Do you have solid deals but no access to quick cash?

Are you ready to hit the ground running if you find the right funding partner?

If you answered yes to any of these questions, then I can help you get your feet wet on your first deal, or assist you in growing your businesswith your next deal.

Now, I know If you've done 5 or more successful flips you can probably find better terms than what we offer. So you may not consider this program to be your best alternative, and that's OK.

However, if you're fairly new to REI, then stop beating your head against the wall looking for funding, and don't let a good deal get away while you're trying to get terms, or raise funds that are simply out of your reach.

With this program, as with others, the more deals you do the better rates you earn. If you have a solid deal in play in the greaterChicagolandarea, or south and centralFlorida, then don't lose valuable time and moneybouncing from one turn downto another. Or trying to get cousin Bob to loan you that 10% down payment.

I can help you finance your deal with the following terms;

100% acquisition and 100% rehab cost

Points and closing cost rolled into the loan

Short term loan ( 6 months ).

There are no upfront application fees,you risk nothing by applying.

Close in as little as 14-21 days depending on title search

And more importantly, a yes or no based on the deal, not your personal credit within 5 business days, not 3 weeks.

Our in-house attorney will handle the closing and contract negotiations for you.

That being said, we don't charge application fees because we want you to have no barriers to making that first offer. Do your due diligence, negotiate the best deal you can. Don't blow your credibility by submitting a weak deal.

We have two programs available;

1. 70% LTV based on ARV, 5 points 18%, no monthly interest payments, flips only*

2. 70% LTV based on ARV, 4 points 12%, monthly interest payments, flips only*

*We will consider commercial property (multi-family) with a history of at least one successful commercial flip and strong comps.

Send proposals with contracts, **documented rehab estimates, comps, pictures, and ARV to [email protected]. We will not consider hypothetical scenarios, real deals in place only.

I look forward to hearing from you, good luck and good hunting.

Don Banks pres.

Ascension CPI

**Documented contractor estimates for first 2 deals 

Hi, do you lend in IL, and what are your terms? Here are my deals, and the properties are under contract.

5318 Imperial Dr. Richton Park, IL.

22116 Richton Rd. Richton Park, IL. 

Thanks,

Hello BP Community, 

Please answer these 3 questions to see if this is the right funding alternative for you:

• Are you new to investing and don't have a long track record of successful flips? 
• Do you have solid deals but no access to quick cash? 
• Are you ready to hit the ground running if you find the right funding partner?
  

If you answered yes to any of these questions, then I can help you get your feet wet on your first deal, or assist you in  growing your business with your next deal. 

Now, I know If you've done 5 or more successful flips you can probably find better terms than what we offer. So you may not consider this program to be your best alternative, and that's OK. 

However, if you're fairly new to REI, then stop beating your head against the wall looking for funding, and don't let a good deal get away while you're trying to get terms, or raise funds that are simply out of your reach.

With this program, as with others, the more deals you do the better rates you earn. If you have a solid deal in play in the greater Chicagoland area, or south and central Florida, then don't lose valuable time and money bouncing from one turn down to another. Or trying to get cousin Bob to loan you that 10% down payment.

I can help you finance your deal with the following terms;

• 100% acquisition and 100% rehab cost up to 70% LTV based on ARV 
• Points and closing cost rolled into the loan
• Short term loan ( 6 months ). 
• There are no upfront application fees, you risk nothing by applying. 
• Close in as little as 14-21 days depending on title search
• And more importantly, a Yes or No based on the deal, not your personal credit within 5 business days, not 3 weeks.

Our in-house attorney will handle the closing and contract negotiations for you.

That being said, we don't charge application fees because we want you to have no barriers to making that first offer. Do your due diligence, negotiate the best deal you can. Don't blow your yet to be established credibility by submitting a weak deal.

We have two programs available;

1. 70% LTV based on ARV, 5 points 18%, no monthly interest payments, flips only*
2. 70% LTV based on ARV, 4 points 12%, monthly interest payments, flips only*

*We will consider commercial property (multi-family) with a history of at least one successful commercial flip and strong comps. 

Send proposals with contracts, **documented rehab estimates, comps, pictures, and ARV to [email protected]. We will not consider hypothetical scenarios, documented deals only. 

I look forward to hearing from you, good luck and good hunting.

Don Banks pres.

Ascension CPI

**Documented contractor estimates for first 2 deals 

Hello Fellow Investors,

Are you fairly new to investing and you don't have a track record of successful flips? Are you long on contracts and short on cash for points, closing cost and down payments? 

If this is you now , as it was me last year, I can help get you funded. No sales gimmicks, no upfront application fees, no long waits only to be turned down, no hoops to jump through, just fast, straight forward funding for acquisition and rehab costs up to 70% ARV.

We can roll your points and closing cost into the short term loan with no down payment. Loans are made on the value of the deal, not your personal credit. How many times have you heard, "just get the deal and the money will be there", well it's true. 

If you have a solid deal in the greater Chicagoland area, or central and southern Florida, contact me for rates and terms.

We have two plans, one with monthly interest payments, and one without. As I said there are no upfront fees, so send in your deals you've got nothing to lose and everything to gain. My lender can close within 14-21 days after you submit your deal.

If they like your deal you'll get funded, if not you'll know within 5-7 days, not 3 weeks. So you'll have time to continue your search if need be. 

I look forward to hearing from you.

Thanks, Don

Hello, BP community,

I have a 3 br. 2 ba. 1,600 sf. frame home in the Village of Richton Park, IL. primed for a quick turnaround. This home sits on 3 lots, 1 block from the Metra station, pace bus stop , shops, schools and a wide variety of restaurants. 

This home is perfect for a growing family looking to get away from the hustle and bustle of the city while still being close to all the amenities of city life. The new owner of this fully renovated home can walk to the Metra station in 5 minutes, yet still be far enough away and situated so as to not notice the train on their day off.

The great location of this home, the aggressive pricing, and scheduled completion during the month of July, all add up to a fast return on your investment.

Give me a call or send me a msg. for the link to the complete investor proposal.

Thanks,

Hello BP Wholesalers,

I am in search of wholesalers with properties in need of rehab in the Chicagoland area, preferably the near south side and far south suburbs.  

As far north as Oak Brook, and west as Naperville. South as far as New Lenox, Frankfort , and Richton Park.

I am looking not only for myself but other partners as well who operate in these areas. All offers must have a current CMA, pictures, and at least general rehab estimates.

You can email your proposals to [email protected] or contact me via BP.

Thanks,

Hello BP community,

I find myself in need of a project manager. I have three projects now, one is listed, and the two others are in work. The problem is, I now recognize that "project management-people management" is not my strong suit.

Maybe a little too late for these 3 projects, however, going forward I will need someone capable of handling multiple (3-4) projects at one time.

I've had some experience in it, but what I have discovered lately, (at great cost to me) is;

1. I don't have enough experience to always know when a contractor is giving me the runaround
2. I lack the skills necessary to manage people in that type of work environment
3. I have no interest in being involved in the day to day operations of a fix and flip
4. I do have great interest and ability in finding and negotiating solid deals, and aquiring the funding to move these deals to closing

What I need is a freelance PM with a proven, documented track record of at least 3 recent (within 24 months) successful projects brought to market. perferably on time and on budget. I'm open to discussions about salary, bonuses. and partnerships.

Some of the responsiblities include:

1. Look at houses that I might be interested in
   - Put together basic rehab estimates (something I can start with when putting together a budget)
   - Get bids and negotiate with contractors
   - Manage contractors on a day-to-day basis
   - Manage schedule, budget and quality for all work done
   - Put together material lists and order materials
   - Be around for deliveries
   - Get houses ready for showings
   - Deal with inspectors/appraisers
   - Deal with alarms when they go off
   - Anything else that may come up on a day-to-day basis

I'm growing my business and I want to focus on that growth, not on dealing with slick contractors who only care about their bottom line. I'm fair minded and I'm willing to pay a fair portion of the profits to the right person who is as interested in growing as I am.

Please email me if you meet the qualifications for this position.

Thanks,

Don

Ascension Commercial Properties Inc.  is proud to present this 4 bedroom 2.5 bathroom home located on a quiet Cul-De-Sac in Crete, IL. 

This single family home has over 2,300 sq. ft. of living space. A large wooded lot and rear deck. It has an enormous master bedroom with double closets and a full master bath. 

Upper wood frame portion of home will be completely siding and all windows will be replaced with double hung, vinyl,  energy efficient windows as part of the renovation project.

This project will be funded quickly, so get your offer in as soon as possible. Please contact for me for the full investor proposal.

I am looking for private lenders at this time, as I already have a HM lender in position for financing.

Thanks,

D. R. Banks

Can you send me your email address so I can attach the file.

I'm looking for an investor, to fund my next rehab project. I have under contract a 4br., 2ba., 2,030 sq.ft. two story home in Crete, IL. Acquisition and rehab costs(including contingency fund) combined are under 60% of ARV.

Home has large eat in kitchen, master bath, 2 car detached garage, living room and family room. Can be priced well below market average for quick sale. Projected 6 week turnaround.

Acquisition costs........$42,322 (including closing cost)

Carrying costs............$ 2,200 (120 days)

Rehab costs...............$44,500

Total...........................$89,022

ARV..........................$158,000

% of ARV.........................58%

Projected Sale Price $130,000

Email me for investor proposal or if you have any questions.