All Forum Posts by: Jordy Clark

Matt I’m a board member at two of the REIAs here in salt lake, I’d be happy to show you around our meetups. The reias are very active here and deals get done! 

Slreia and uvreia are the two largest. I’ll reach out to you! 

Flips right now are thin, wholesale deals are getting multiple offers, and bid up, and the UT division of Real Estate is cracking down on wholesaling. If you flip right now, 10-15K profit (5% of ARV) is pretty normal after all expenses (pretax). Good luck!

Thanks @Douglas Larson !!

@Joanna Golden shoot me a PM, my top producing team that focuses on investors would love to help you out! 

Thanks for the contribution everyone! looks like ill modify my lease a bit

Originally posted by @Joseph DiNardi-Mack:

Hi @Jordy Clark I'm not a lawyer but I don't see any issue with this. If it's a standard offer to all of your tenants you aren't discriminating against anyone, and you have every right to make promotional offers. 

 That is what I thought, Does anyone do this that has insight otherwise? 

Hey BP, I am an agent. I manage my own rentals, and thought of offering our tenants a "buy with me and ill tear up your lease for free" option. Does anyone see an issue with fair housing laws? 

My understanding is that if Rebecca's. You should be in long term capital gains because it's been longer than 12 months which is at a lower rate than short term(which basically adds on top of your income) I think long term is around 15%?

I helped a Client who sold a large apartment complex in northern california who since moved to UT, He owned it F&C, and netted about 1MM. He then bought 6 SFR's in SLC with the 1031 money. I believe he was about 60% LTV on all the purchases. we were able to get slightly under the 1% rule. (this is now much more difficult in salt lake city)

When I Asked him why he didn't just buy three properties free and clear, He wanted to add an acceptable amount of leverage to get more properties. I believe he pays on them as if they were 15 year notes. 

Thanks for all the replies, Ive taken a few photos, waiting on my photographer to come out. What tips can you guys give me on making my listing as successful as possible? Link below

Our First VR

My understanding is that it's like a few dominoes set up in a row, he refinances the loan you extended him, paying you off, and you pay your mortgage off to the seller. Typically happens all at the same time. I've done this a few times before. I always use an intermediary that services notes, in Utah the the place I use is called escrow specialists.