underneath my 2004 rmz 250 my oil drain screw is stripped out of the pan. the pan it self is stripped out so oil leakes. any quick repairs just for the time being it will be fixed but i really need to race it
There is also a rubber plug that will go in the hole, then inside that plug is a wing nut that will tighten up to seal the hole and keep the plug in place. They sell these things at Autozone, where all the drain plug gaskets are - They cost between 5 - 10 dollars, just make sure you know what size the hole is because they come in 4 or 5 different thickness sizes.
Really the helicoli would be a more permanent fix, but this would get you back riding if you dont know how to do that or are worried about getting metal shavings inside the case.
Be careful with those plugs. If they stick too far into the tranny they can bind up the gears. They're OK for a quick fix just make sure there is clearance.
If the original drain bolt was a M12 you can re-tap it to a 1/2" fine thread and make a new plug out of a 12" bolt. It's a lot cheaper than a heli coil and works fine. Just make sure the bolt length is right (see above)