All Forum Posts by: Drew Oberholtzer

Brian,

My wife and I are going to ramp up our investments after gaining access to private investment and would like to partner with a lawyer so we don't have to pay for his service a la carte. We're drafting up a business plan and also want legal advice relating to company structure, contracts, et cetera. Our strategy is a combination of fix and flip and buy and hold with new construction eventually replacing fix and flip. My wife's an architect so the goal is to become a design build company. We're also looking for a CPA, but we're considering forming our LLC series in Delaware. If you have any advice on any of this we'd greatly appreciate it. I see that you do syndication. I have a few friends who do that in Kansas City and Houston and down the line might get into that as well.

I'm purchasing a house for $29K that needs a little cosmetic work (painting and a new kitchen subfloor) prior to renting.  I got a bid for work from a contractor who later offered to purchase the house.  Is there a way to sell it to him before closing for a profit?  Does anyone know the process.

Thanks!

I'm purchasing a triplex in PA for $52K with 20% down.  The first unit is commercial and is rented for $565 with a longterm tenant.  The second unit is a 2 bedroom and is rented for $500.  The third unit is not rented, but it should rent for $350.  The current gross rental income is $16,980 per year.  The expenses are as follows:  Taxes are $1700, Insurance $600, Heat $2100/year, Water $847/year, Sewer $1560/year, Trash 51/month.  The triplex is in good condition and will be managed by a management company.  Any feedback on the quality of the deal would be appreciated.

Thanks!

I'm an investor with several investments in Pennsylvania and have recently secured significant private investment.  As a result I'm looking to partner with a reputable lawyer in Pennsylvania on future deals.  Does anyone have any recommendations?

Thanks!

I want to buy a triplex for $52K.  It seems that most banks don't loan for anything less than $100K.  

Does anyone have any suggestions for commercial loans in Pennsylvania?

Thanks,

Drew

I'm taking my real estate ventures to the next level and am trying to figure out how to structure it. I've done a lot of reading, but filtering the information and deciding what's best has proved difficult. The key players are my wife and I (partners). We would like you involve our GC as an equity partner (unless not advisable) and a lawyer. We have several private investors on board, but we're not sure how to structure their roles. That said they all want to be passive investors. One problem that we've run into is deciding how to use an LLC while still being able to take advantage of bank financing for individual houses to buy and hold since it seems that banks won't loan to an LLC unless they have established credit or they are investing in multi-family buildings. Our strategies are fix and flip and buy and hold, ultimately replacing fix and flip with new construction. (my wife is a licensed architect). Any feedback would be greatly appreciated.

Thanks!  I'll check these out.

Clearly!  I have a bunch of investment properties in Philadelphia.  This one is in Pottsville...hometown of Yuengling Brewery.  

I agree that $5000 is a lot and am considering doing it myself, but wanted to see what my options were.  The floors are already painted and need some touching up.  The hiuse was built in 1870.  So you think spraying would be the best way to go?