All Forum Posts by: Gary Parker

Hey Jacob stop giving such good advice...it is already tough enough around here. :)

Marc Tipping 801-577-3080.  He does 5 + roofs a year for me.  Please tell him I referred you if you call him.

@Parth Patel what is it about the"due on sale" clause you don't want to deal with?  Ideally free and clear for seller financing opportunities are the easiest to work through; however, typically the sellers will be the least motivated.    

 I hope Jon doesnt mind my input.  I have use @Jerry Puckett's services, with success, and have had people call from that letter shown or close to that letter.   It is funny when we start as real estate investors we think there is a secret letter or secret way to talk to people.   And yes I know there are those that are experts in negotiation and how to "mimic", "lead" and all that stuff, but the basics of being honest of how one finds the people you mail to and what your intentions are is 100% the most successful way to be.   For example I am very forth right when I explain to people I am an investor and I make a profit doing what I do.  In return they will get a quick close and so on.  It goes beyond these few words, but be honest and educate the seller.  

Paxton Guymon - York Howell & Guymon - 801-527-1040.  Also very knowledgeable about Division issues if you are licensed.   He has counseled me in several issues of question regarding real estate.   Certainly makes me feel better about some of the deals I have put together.  

Welcome hope you are enjoying the spring snow today :)

I have purchased a home for rehab in the Salt Lake City area and the seller has a friend in Joyce Washington just West of Port Angeles Washington that inherited a house that needs a lot of work.  The lady in Joyce WA wants to sell to an investor.   Please let me know if you are interested in contacting this person.  I hope I posted in the correct forum.  

Blackbook Data is out of business.

The rehab looks great.

As stated Utah, Salt Lake and Davis Counties have crazy low inventories right now.   I just listed a rehab that I purchased 3 months ago and at that time I thought I would be lucky to get $175K for the property based on comps.   At $175K the margins were $15K or so.  Very thin.  It has been listed less than 24 hours and I have 3 offers over $190K.  I look at the comps and wonder if it will even appraise.    So to the question about the 50% rule.  Personally I want to acquire rentals in Salt Lake County right now and no way can I find a property using the 50% or 2% rule.   So I am looking for sub 2 deals where I only need to put in $10K - $20K (rehab & seller some cash).  If I can get $500 a month gross cash flow (no adjustments for vacancies, repairs etc) I will go for it.  Crazy right.  I do make sure I have proper reserves and so on.   If I were younger I would look at 4 units I could buy owner occupied and live there a year then move on as many times as lenders will allow assuming you had proper reserves and the properties cash flowed.