All Forum Posts by: Robert Kough

Hey!

So a friend of mine is considering starting a wholesale/flipping company in Tuscon in the near future.  He has had great success doing it in the midwest but is considering taking his business out west.  After doing a brief marketing analysis it seems to be a decent location for this kind of business. The marketing strategy will be direct to seller with intentions of buying distressed properties at a discount.  He wants to start in Tuscon to avoid the crazy phx competition. Is that worth doing or should he just go to the big market and bet on himself?  Its not like the midwest isnt flooded with hedge funds and i buyers now anyway! Any insight on the topic would be greatly appreciated!

My partner and I are working on a few more deals and after that we are parting ways due to location change. We bought a bunch of tools while doing work together and don't know how to split them. I own 60% of the LLC and she owns 40%. She has payed for majority of the tools but gets reimbursed 100% for her expense after each flip. Our initial plan was to pay her back 100% than have me pay her 40% of the depreciated value. I am not sure that is necessarily the right way to do this. We needed and have used every tool we bought for projects. How should we split the tools?! Let me know what you think! Thanks.

@Sam Martin i agree completely. I plan on putting this exact scenario in the lease agreement somehow to avoid this from even being a question next time

@John Clark

Spoke with water company again this afternoon and she was notified of leak by them as well.

@Mike Cumbie yea we explored that option. They didn’t budge as well. But like you said we came to a solution. I appreciate you keeping up with the thread.

@John Clark you continue to disregard what I am saying. SHE CONTACTED ME STATING THERE WAS A LEAK AND ADMITTED SHE DID SO LATE!!!! Lol. Hope that clears it up.

@Greg H. I think he is just a troll lol

@John Clark also you are completely disregarding the section of the lease that calls for timely payment of utilities.

@John Clark the situation developed along with this thread. We are splitting 50/50. And like i said before. After she reviewed the lease and admitted to not abiding by two sections she agreed it was completely fair. Again i believe this was after she sought legal counsel.

Side note: i paid for entire cost to fix leak. I obviously knew this was my responsibility as owner.

@John Clark she admitted to knowing before she contacted me( for longer than 24 hrs). Again, you are wrong. Have a good one. I may have left out some important info but instead of assuming you know all just ask. If she didn’t already admit to knowing ahead of time you may have a case. Looks like you lost this one john. Thanks for your admit attention to the issue.