All Forum Posts by: Jeff Rappaport

Don't forget about tonight!  It will be great!

Are you looking to break into real estate? Need to make some extra money? Interested in taking your business to the next level? Join us for the Wholesale Meetup this Thursday in Draper. We will be covering how to consistently do one deal a month and make an extra $5K-$15K. We will be going over all the steps to make this happen (there are a lot more than you think)! It is 2017 and the time is now! This is Part 4 of the series! The first three parts of the series were awesome! If you are a rehabber or a buy and hold investor this is a great place for you to find your next deal!

When: Thursday, January 12th, 2017
Where: Thai Siam (12147 S. Factory Outlet Dr. Draper, UT)
Time: 7:00 pm
Cost: Free (except your dinner)
Investors of all experience level welcome!

Hi @Ann Alleman, welcome to BP and the wonderful world of real estate investing. I wanted to invite you to a Wholesale Meetup group we are doing Thursday, January 12th (I know, not a lot of notice) in Draper at 7:00 pm. It is a great place to network with other investors and we offer free content to help you further your business. If you want more info pm me and I will give you the details. There are a ton of REIA and Meetup groups you can attend throughout the valley. I hope to make your acquaintance soon! Good luck!

Are you looking to break into real estate? Need to make some extra money? Interested in taking your business to the next level? Join us for the Wholesale Meetup this Thursday in Draper. We will be covering how to consistently do one deal a month and make an extra $5K-$15K. We will be going over all the steps to make this happen (there are a lot more than you think)! It is 2017 and the time is now! This is Part 4 of the series! The first three parts of the series were awesome! If you missed the last few meetings don't worry.  This meeting is still worth your time!   If you are a rehabber or a buy and hold investor this is a great place for you to find your next deal!

When: Thursday, January 12th, 2017
Where: Thai Siam (12147 S. Factory Outlet Dr. Draper)
Time: 7:00 pm
Cost: Free (except your dinner)
Investors of all experience welcome

I am in possession of an Assignable contract on this property which allows me to purchase the property.  I will be assigning the contract to you which will give you the right to purchase the property.  

2107 Cherry St. Springfield, MO

Purchase price $1,025,000

Across from an elementary school

30 2 bed/1 bath units

3 levels

Built in 1999

All have forced air heat and electric air conditioning

Most of the units have dishwashers

3 meters – one meter for 10 units

Owner pays all utilities – included utilities as an attachment. Average cost per month is $2,500.

Roof was done 3 years ago

Has a community washer/dryer area

Plenty of off – street parking

Only two vacancies currently

The units are livable but could be updated and rented for more.

Needs about $125k in renovations

Taxes: $9,988

Insurance: $5706

There are currently only 2 vacancies but many of the tenants owe back rents and need to be removed from the premises. If utilities are to be included and the units are updated rents should be a minimum of $700 per unit and could be as high as $800. It may not be worth changing the meters but I am looking into that option as well.

Pro-forma:

Gross rents:

$700 x 30 = $21,000 per month

Total Rents: $252,000

Minus vacancy (8%) $ 20,160

Total Net rents: $231,840

Expenses:

Taxes: $9,988

Insurance: $6,000

Utilities: $40,000

Property Mgt (8%) $18,547

Maintenance $12,600

Capital expense $12,600

Total Expenses: $99,735

Net Operating Income: $132,105

Cap Rate: Including rehab costs (conservative) and closing costs - $1,250,000 - 11%

Property would be worth $1,761,400 or more. Could sell the property and make $300K+.

I will have some pictures and videos soon.  Rent rolls and utility bills available upon request.   Let me know if you have any other questions.

Thanks!

Jeff Rappaport

Wasatch Home Buyers, Inc.

[email protected]

801-209-2945

@Heston Beacco, you should be fine!  People are usually there until 9:00 pm or later depending on the turnout.  Hope to see you later!

Happy New Year! Was 2016 everything you wanted it to be? Did you accomplish all of your goals? Start off 2017 the right way by joining us at the BP Meetup this Thursday evening! Real estate is a people business. It is a networking business. This event is strictly for networking and creating new and lasting relationships. Jump start your business for the new year and come check us out!
When: Thursday, January 5th, 2017
Where: The Huddle (2400 E. Ft Union Blvd) in Cottonwood Heights Time: 6:30 pm Cost: Free

@Alan Walker, Thanks Alan!  Glad you enjoyed the event!  Always a pleasure seeing you!

@Scott Morgan, would be happy to add you to the list for reminders every month.  PM me with your email and phone # and I will make sure you know about the events ahead of time.  

Join us tonight for the 3rd Annual Shark Tank at the Utah REIA. A panel of experienced real estate investors will go over deals or potential deals and give insight into what they like and dislike about them. You will get a variety of feedback on each deal. Great way to learn how to structure deals and network with other investors! If you have a deal you are working on or need some feedback on what to do with a particular deal bring it tonight!

The time is now!  Make 2017 the best year yet!

When:  Tonight, Tuesday, December 27th

Where:  Apartment Association in Murray (448 E. Winchester St.  (6400 S.) Suite 460)

Time:  6:30 pm

Cost:  First time members free

@Osvaldo Hernandez, @Chris Null, @Donovan Wilcox, Welome to BP and the world of real estate investing!  If you are looking to newtwork with other investors and get some pertinent information on real estate investing you have a ton to choose from.  Here are some of the ones I am involved with and my personal favorites:

BP Meetup - 1st Thursday of the month at 6:30 pm.  We meet at The Huddle in Cottonwood Heights.  Strictly about networking with other investors.  There is no cost!

Wholesale Meetup - 2nd Thursday of the month at 7:00 pm.  We meet at Thai Siam in Draper.  We have a monthly presentation on the different aspects of Wholesaling.  Even if you are interested in buy and hold or rehabbing this meeting is a great place to meet other investors and learn some investing strategies from others who are doing it.  The cost is free!

Utah REIA - meets the 4th Tuesday of the month at 6:30 pm. We meet at the Apartment Association in Murray. Always have a presenter on different topics and a great place to network with other investors. First time is free!

SL REIA - meets the 2nd Wednesday of the month at 6:30 pm. Meet at the Larry H. Miller center in Sandy. Always have a presenter and time to network. First time is free.

Both REIA's also have luncheons throughout the month that are free as well. There are many other meetups and even a couple of more REIAs you could attend throughout the month.

If you have any questions pm me and we can discuss.  Hope to meet all of you soon!

Join us tonight for the Wholesale Meetup in Draper!  This will be the last event of the year!  Network with other wholesalers, rehabbers and landlords to build your business.  We will be discussing the steps to build a wholesale business that is viable and consistent.  This is part 3 of the series.  Don't worry if you missed the first 2 parts.  This information normally costs thousands of dollars.  If you are serious about starting or building your business you will not want to miss this!

Tonight - Thursday, December 15th

Time - 7 pm

Thai Siam in Draper - right next to the movie theatres

Cost - It is always free except for dinner.  

Investors of all experience welcome!

Can't wait to see you there!