All Forum Posts by: Brian Albelli

 Sweet CTS Sandy, great color. I have a black coupe and love it. 

@john Moore Whats the talk of a Hard Rock? I haven't heard anything. 

Also, there was a lot of talk recently about the townships cracking down on vacation rentals. Just search it in the Pocono Record as there was a few articles.

Definitely not a luxury market here. Look and see what the average house sells for in coolbaugh township, actually I will do that right now for you. The average closed house sales in the past year in the township was $78,361. Hope this helps!

I am about to lock up a deal on a gorgeous 3000 Sq. Ft colonial. It needs every piece of sheetrock painted, the current colors are dark green and reds. The ceiling is about 20' in the one living room so theres a ton of wall space, plus the ceiling have cracks and a lot of speckling needs to be done. I got a price of $7500 for the job, that includes labor and materials. They said its going to take about 2 weeks. The contractors work is impeccable and that goes a long way but I was thinking more like $5000 for this job when I put in my offer. What do you guys think? Its a lot of paint!  Thanks

Hi, first of all your merchant account will be red flagged by the first big settlement that comes through. Running your own cards through your own merchant account is a huge no no, they will close the account if they find out. Also, if your card issuer finds out (they probably won't though) they will close your card for circumventing the cash advance fees. Next, you'll have such a low score from all your credit cards being maxed out. Just find ones yourself, go on credit forums. If you have excellent credit, theres the major players, Chase,Amex,BofA,Citi,Barclays,etc that don't report the trade lines to your personal credit report, try to get the most with them. Next utilize credit unions, if you can join Navy Federal, Penfed, DCU, those are a few good ones that give high credit limits. Hope this helps!

Thanks for all the replies. I am not anticipating any lawsuits but we were just sued on our first flip because the one bathroom toilet isn't connected to the septic. I saw it flush, and their inspector reported it worked fine in his inspection. My attorney says it shouldnt be a problem but still. I am always looking for ways to limit my liability with any transactions. I am making an offer on a pretty good deal tomorrow, hopefully the bank accepts! Thanks again

I started flipping last year in the Poconos,PA , completed 3. I netted 80k total, 40 on one alone. I am currently using a realtor, and am their "assistant" for MLS use permission. I have a great contractor that is reasonable, and timely. He flipped a lot of properties before the credit crunch so he knows the tricks and what buyers are looking for. I just purchased a small home for 15k, needs 20k, ARV is 80k. My questions are,should I start a new LLC for every house for liability issues? I'd hate to get sued and a possible judgment against an LLC that currently holds a property. I am going to ask my attorney and accountant but I'd like to know what everyone on here is doing. Also, I am working with 200k. I love that I don't have any mortgage carrying costs and the "cash" offer buying preference Ive been receiving along with the quick closings cash buying brings. Am I silly not to be looking into hard money guys as I can spread that 200k over much more houses? Although, I can't really say I can find properties fast enough to purchase more than one or two at a time. Any advice will be greatly appreciated! Great forum you guys have here! Thanks