All Forum Posts by: Gary Parker

I agree with most that as rates rise the calling due will happen. I just happened to have closed on one today where most of the purchase was subject 2 the mortgage. I think I am going to hang on to it and rent it. I think my risk is somewhat low because There is a decent amount of equity in the deal and I can sell or refi in the future if necessary...hopefully. I will risk what money I do have in the deal. As long as I dont sell it on seller financing for long term to someone else I am OK with the risk. Wouldnt be fair to long term buyer if the bank called it due and neither one of us could refi especially if they put a lot of money down.

Call or email any time. As for title companies call Cindy at Meridian Title 801-264-8888. She is awesome.

I am certainly not as seasoned as many here, but my few years in this business has taught me one thing. Everything can change on a dime. I was doing only preforeclosure sub2 5 years ago and got caught with my pants down on several properties and still working through some of those when the market changed. Between me not paying attention and the swiftness of the change I didnt notice it coming. The last 18 months we have gone from MLS and REOS being easy to come by to being all dried up. Everyone is moving to direct mail. Now when one does find a property, at least in my market, it will fly off the shelf when complete. But yet I am seeing more changes. In a neighborhood I love to rehab in, for the last 6 months a nice rehab will sell in a day. I know I have sold 2 in 4 months there. As I continue to watch the neighborhood it is amazing at all the inventory all of a sudden. I think the one I closed a month ago would never have sold today for what I got out of it then. Is it "the selling season" or something else? I dont know. I have one in a more exclusive area that we thought would go for $500K when we bought it. There was nothing for sale at the time we bought and one went for $520K cash in 2 days at the time. Now there are 12 active. Just got it under contract today for less than we thought and took 3 weeks.

I say this because for me it is more of a short term game rather than long term. Mostly because of the way I play the game. However, there are others that play the long term game very well such as Rich Weese. Sorry I cant tag him.

Justin Silverio one way is to buy an easy domain "webuyhouses.com" then redirect to a page on your site "webuyhouses.com/absenteeowner

I am interested in what Dev Horn has to say because he knows a lot more about this than me.

I think there are good ones and it is worth it. Look for posts by Jerry Puckett and Michael Quarles. You will be glad you did.

"Dead meters" ? Jackie Lange

If you use Quick Books the payroll module is not that expensive. The due dates of some of the taxes will vary depending on how much they are.

That is great Ty. I am kind of sitting on one right now that is a bit over priced in a nicer area like your #1. Your under contract gives me hope.

I followed a recent thread that suggested Tuesday, Wednesday and Thursdays are the best days to receive mail.

Josh Farrer I applaud you for the financial decisions you are making.