All Forum Posts by: John Dreher

Thank you all for the great information. I do appreciate it. @Chris K. Do you think it would be smarter to set up an LLC with just one member and have the other two as "investors"? And not really members of the LLC?

Hey BP, I'm looking for advice on my first deal that we just got under contract. It is a flip, and basically I'm wondering if I should form an LLC for this deal. I know of investors that will form an LLC for every house they flip. I am part of a 3-way partnership and feel like it would be smart to do in order to keep everything organized, especially finances, and of course liability issues. Anybody have advice on a fast, inexpensive way to form a simple LLC in PA for this? Any help is much appreciated.

Just wanted to say hi to everybody. My name is John and I’m a new investor. I’m looking forward to meeting everyone. Thanks for putting this event on, guys!

Thank you Stephanie. We’re just looking for a recommendation for a commercial lender to acquire the property. Any rehab we anticipate to pay out of pocket with cash.  

Hey everybody. I'm looking to take a HELOC on my primary residence to help finance my investing, if needed. I'm brand new to this game and have zero deals thus far. I'm looking for any advice on where to look for a good HELOC. I live on Staten Island and have spoken to both TD and Northfield as of now. Thanks for any help, much appreciated!

Thanks for the reply, Andrew. What we are looking at is a mixed occupancy. Commercial on the first floor, residential on the second and third floor. The commercial space is occupied currently, but the two apartments above are vacant and need a complete rehab.

My partners and I plan to form an LLC but we are also shopping for a commercial loan to finance our first potential deal. Does the LLC need to be formed before securing the loan? Or can it be done while in underwriting or afterwards? Are there pros and cons for when to form the LLC? We are in the Philadelpia area. I am brand new here and appreciate any help!

Hey everybody. Just starting out here and looking for recommendations for commercial lenders or products in the Philadelphia area. Any and all help is much appreciated!

Thank you for the advice. We do have an agent that we are currently working with. He’s been a tremendous help already.

Hello to everyone out there in the BP world. I’m new to real estate investing and currently have ZERO properties! Went with the pro membership in large part to access the calculators and webinar archives. My work schedule usually keeps me from being able to attend the webinars live. I have a few friends I’ve partnered with and we are looking for distressed properties to BRRRR in the Philadelphia area. We are from NYC, and have a modest amount of money to start with - so we’re looking to learn to swim in the shallow end with property values that are more our speed. Thanks for listening, see you all out there.