All Forum Posts by: Robert Pole

My contractor brought me a house off the market. We walked it. Can add a in-law suite for lots of value. We can buy the house for maybe 125k and he estimates 120k in renovations. He will do all the work. I will secure the loan for everything. What would a fair cut of the profits be? I’m thinks just pay him his regular price for the job and throw him 5-10% finders/gc fee instead of making a 70/30 split or something like that. This is my first fix and flip. And is also my first partnered investment property. I usually just do fox and rent for my own.

Looking for people to network with in NEPA.

My lender doesn't loan on LTV under 125k. I have 3 solid income duplexes that I own free and clear. I'd like to pull money out of them and buy something bigger.

@Will Fraser. Thanks. I will try the bigger banks. If not I’ll wait a couple months. My credit should be better in 3 months.

I have an LLC which owns 3 two family houses fully rented. There are no mortgages on these houses. I'm looking to pull 60-70% of the equity to purchase more properties to rent out and boost my income. I'm not in a position to get a personal loan right now but not because of bad credit. I've been getting shot down with all different excuses which don't make sense to me. Where's a good place to look?

@Robert Young what kind of terms are you looking for?

I have a hard money lending business for years now but it has been growing over the years. I just use spreadsheets right now to keep track but it’s very basic. Can anyone suggest a software that isn’t outrageously priced like I’ve seen or maybe anyone have a system of spreadsheets that have been working for them? I’d like to really get a grasp on this business to make it run more smooth. Thanks

Christian Cody my building is in Wilkes-Barre.

Christian Cody you are exactly right. The building is on main st with retail on the 1st floor. About 2 blocks from 2 different colleges in each direction.

Jason Lee we have tried a couple different options with the floor plan. No choice really since the building is sandwiched between 2 other buildings. I will look into the legality but the architects assured me that it is legal. One even told me he has apartments in the area that don't have windows either. Ceasar Rosas the town is wilkes-barre.