All Forum Posts by: Drew Oberholtzer

I need some advice and some instruction on the proper procedure in writing up a contract with a private investor and contractor. I have a private investor that intends on investing $100K for a period of 5 years with a 10% return with an option to receive all investment after 3 years. I have a contractor who will be working as sweat equity on a fix and flip property. I'm not really sure where to begin with this and I'm not sure if it's best to write a contract under my LLC or myself individually. The contractor and investor won't be part of the LLC. Any feedback would be great. Thanks.

I need an entire house painted including the floors and have received quotes that are much higher than anticipated.  The house is 1800 sq. ft. with wood floors.  Paint would be off-white throughout.  I got a quote for $5000 including materials.  Is this too high?

I'm purchasing a house for $29,000 and will be renting it for $800/month. It needs little work; just a fresh coat of paint and a new subfloor in the kitchen. I have cash on hand to purchase the house, but don't want $29,000 locked up as equity in the house. Most banks won't touch anything under $50,000. What are my options if I'd like to pull money out of the house for future investment properties. Also, is it better to purchase as an LLC or individual. I don't know very much about financing as an LLC, but would ultimately like to purchase properties under an LLC to protect myself. Any feedback would be appreciated.

Thanks!  I'll check it out.

I'm considering purchasing an empty lot in Detroit to build a single family home (prefab).  Does anyone have any experience with purchasing lots in Detroit, permits and zoning, or any other projects that have been done.  I'm not looking to tear down.  I want to find a lot that's already been cleared.  

I'm looking to purchase several rental properties in Pottsville, PA.  Since I'm out of state I need to hire a management company.  I took a trip and met with Bill at Schuylkill Home Solutions and wondered if anyone has had any experience with them.

Has anyone used Asset Based Lending in Pennsylvania? I'm looking for a HML for a fix and flip property in Philadelphia and would like to see if anyone has dealt with ABL.

Has anyone invested in Pottsville, PA?  I'm originally from the area and it looks like the rental market could cash flow well.  Please let me know if anyone has any experience in this area.

Thanks!

I took the L for 10 years and watched Greenpoint/Williamsburg change from Polish/Italian/Latino to hipster/artist to Wall Streeters boarding the train with a suit and tie.  The only direction rents are going is up.  The L train is irrelevant when one can take a car service, shuttle, or ferry with little trouble.