All Forum Posts by: Jeff Rappaport

Hey Kevin, I am also a local real estate investor from Sandy.  I do a little of everything other than fix and flip.  I have been doing this since 2000 with a break for about 4 years after the crash.  I am always looking for deals, joint ventures, or to lend a helping hand!  Let me know if you need any help.  

Hi Alicia,

I am a wholesaler in Utah and would agree with Skyler in his remarks.  The Divison of Real Estate is tough here and is not fond of investors wholesaling properties.  You definitely want to make sure you have all the right disclosures in place on any agreement you use.  You also want to be very careful of advertising the property once you get it under contract.  If you look like you are selling a property you don't own (even with equitable interest) the Division will treat it as working as a realtor without a license.  The only thing I would disagree with Skyler about is the Division is already cracking down.  The statutes are very vague and can be interpreted in a number of different ways.   Ask me how I know this!  If you have any questions you can contact me and we can discuss further.  

Hey Dave, welocome to the site and congrats on taking the plunge into real estate investing!  I am an investor in Sandy and have been doing this for 15 years.  I would be happy to chat with you and see if I can help in some way.  Good luck!

Hey Robert,

I am an investor in SLC and also work in the Idaho market.  If you are looking for either fix and flips or income property I would be happy to chat with you.  I have several great income properties in Idaho and just picked up an income property in SLC.  Great cash flows and certainly not the prices you would see normally in this area.  I also wholesale properties to rehabbers.  Let me know what you are looking for or how I can help!

Hey Kevin,

I work in the Idaho market.  Would be interested in learning more about what you do and how we may work together on some things.  

Thanks!

Jeff Rappaport

BreeAna, welcome to the wonderful world of real estate!  I am sure you will find this site to be very helpful!  Just so you know there are a number of real estate investment clubs that meet every month.  It is a great place to network and the luncheons are free!  There is a luncheon this friday at the Dennys downtown at noon.  I am speaking about taking your business to the next level no matter where you are right now.  May be informative for you.  

Tanner, I think you conducted a pretty good analysis on the property. The 5.79% cap rate is about the norm in SLC. I have never found condos to be good rentals. The HOA always gets in the way of cashflow. If you are looking for good income property and would be willing to look out of state we should chat. You mentioned the 1% rule. I have a number of income properties that all beat the 1% rule. Good luck!

Nick, I do just about everything except rehabs. I have probably done 50 or so in my earlier years. I focus on wholesaling and creating different types of financing. I am always looking for the easiest payday with the least amount of risk. I have purchased some apartments, land and commercial projects as well. There is so much you can do in real estate. Find what interests you and determine your risk tolerance and learn as much as you can about it. This website is a great resource. So are the REIA clubs. You can find an enormous amount of free information on youtube. Every single investor as started where you are right now. Good luck to you!

Hey guys,  I am an experienced investor in SLC and would be happy to help you get on the right track.  I started in real estate through an infomercial.  I know how overwhelming it can get.  If you are interested email me and we can go from there.  I am speaking at the SLREIA luncheon this Friday at noon at the downtown Dennys.  Would be a great place to meet other investors and start networking.  

Aaron,

Seasoning refers to the amount of time you actually own the property.  I typically wholesale properties to other investors and ask them to pay cash.  That may be their own cash or borrowed funds.  If the investor wants to pull the majority of the funds back out of the deal or pay off their private or hard money they will want to refinance the property fairly quickly.  Most lenders want 90-180 days of seasoning (where the person who is applying for the loan has actually owned the property).  Some may want as much as a year.  Mountain America was doing a no seasoned refinance which means you could buy a property and immediately start a refinance after you close.