All Forum Posts by: Aodhan Ridenour

Hello all,

My partner and I own a contracting company and have completed two full rehabs ourselves in the past year. We communicate regularly with investors who are looking for us to give them quotes on full rehabs. While consistent business is appealing, we are more interested in the prospect of a joint venture where one party provides the funding (equity partner) and our company (project management) handles the entire rehab start to finish. The way I understand it our company and the equity partner would split profits after the closing 50/50. 

Have any of you ever attempted this process or know anything about how it could be set up legally? 

Any responses or advice would be greatly appreciated. Thanks a million!

@Jon Behlke please refer to my earlier posts... Thank you @Jeremy T.

My partner and I have officially made contact with our first real lead and are planning to meet this week with the seller of two semi-distressed properties (they are livable, just not beautiful). We've spent the last few weeks preparing the necessary materials (Option to Purchase Agreement, Sales Agreement, Consideration check) to do the deal legally. We are also working out potential financing options ( we will shoot for a 0 interest terms agreement, but have also determined a minimum cash offer just incase negotiations go south). Totally prepared to make a follow up appointment if we don't get ink on paper at the first meeting.

This is our first deal so we're most likely forgetting something. Is there anything in particular that really sticks out as missing and could cost us the deal?

My second question is a little more complicated. How would we go about packaging the two properties because they are both in the same neighborhood? Does anybody have any proven strategies to accomplish this? Are there any benefits to packaging as opposed to contracting the properties separately? 

We've only got two days before the meeting so I look forward to hearing any and all advice you guys have. 

Thanks a million!

Hhhhmmm, it looks like my "@Jon Behlke" didn't link to his username. How do I make this work for the reply?

Hello everybody, thanks for the warm welcome. @Jon Behlke , to answer your question, I am from the North Hills area of Pittsburgh closer to Wexford actually. What part are you from?

I am a 20 year old life-long resident of Pittsburgh, Pennsylvania, except for 1 year in Boulder, Colorado. My business partner and I recently started a general contracting company, Acorn Hill Contracting LLC, and are primarily focused on working directly with short term investors. I have become extremely interested in Real Estate investing over the past year and a half. My parents own a cash flowing 4-unit property and we have flipped 2 properties as partners in the past year. Both flips were very profitable and we learned a lot from the experiences. I am also an avid member of Pittsburgh's Real Estate Investors Association where I make most of my educational bounds as well as reading and discussion with my private investor group, The Cashflow Boyz 💰.

Feel free to message me with any questions about contracting or our experiences with property rehab. I am primarily looking to learn more about Creative Financing and Buy and Hold management/analysis as well as Wholesaling.