All Forum Posts by: Noah McPherson

@Bruce Woodruff appreciate the feedback. What kind of insulation and vapor barrier would you suggest?

So, we have a bare interior brick wall to insulate. How would you typically do that? The reason I ask is because I'm not sure if there's something we'd need to do to prevent moisture from building up.

@Adam Martin @Andrew B. Thanks guys 👍 I should've known deposits aren't for normal wear and tear. My bad.

@Nathan G. Thanks! This was more the answer I was looking for (even though, I guess, deposits aren't supposed to be for usual maintenance expenses).

@Jason Silvenis Great value! Renovating the property completely sounds like it has a ton of upside. Plus I get what your saying about the importance of staying on top of the maintenance. I'm sure deferred maintenance is probably how slumlords are made.

I know some people have probably done a lot of turnovers in their careers. I'm just curious. Does your deposit typically cover the entire turnover? I'm wondering because if it doesn't, that would take a chunk out of your cash flow. For example, if you have a 1000 dollar deposit, but the turnover costs 2000, you'd have to factor the extra $1000 in maintenance or vacancy expenses correct?

@Jonathan Greene Yeah, you're right, their brokerage is not going to like that. I find that agents aren't very fond of wholesalers and vice versa. It's probably because they compete, but many wholesalers do honest business and help solve people's problems.

@Lydia T. Thanks for opening my mind to that. The JV thing might be a good idea. It'd take an enterprising agent I bet tho

@Duncan Hayes that's how I figured would be the best way to structure that. So it'd basically work like it always does but paying an agent a finders fee.

@Scott E. Some people build entire wholesale businesses based on agent relationships actually. Agents being them what's called a pocket listings. However, I do see your point and many people think the same way as you. Also, another thing to note, is that this would be a dual agency. The agent is representing me aswell trying to get me the best price.