All Forum Posts by: Gary Thompson

Thank you all for your input - I'll forward to my client and see what they decide, much success!  Gary

Hello All, got a quick question for anyone out there. I have a client who is putting together a spec home, the market in Utah is very good, and new construction is in high demand.

This friend is getting a lot loan from his father-in-law in the amount of $70 in cash (total for the lot) Then he is getting a new construction loan in the amount of $230,000. (all his risk) He is paying the builder (another brother) just like anyone pays a GC.

When it's all said and done, they think they can sell the home for a profit, but they are not sure how to split up the profits, should the ratio be based on the percentages for example 23% to the father-in-law, and then 77% to him? or just pay off the 70K at a certain interest rate? 

haha, I'm sure there is a better way - so just looking for some additional perspective - thanks!  Gary

Hello All, sorry for the late notice but Rocky Mountain Power has posted a note to our building that they are shutting off the power this evening right at meeting time until Midnight. Sorry about that but it looks like in lieu of someone speaking up on a new place for this evenings meetup we are going to have to bump it for this week. I think the time is too short so unless further notice we are canceling for this evening. Sorry about that. Thanks Gary

Hello Salt Lake City Investors, and those Interested in Investing, this is our second meetup and we'll be discussing several strategies for finding properties, working with agents and other resources, evaluating properties, BRRRR strategy, how to be accountable to ensure your success!

p.s. This is not a seminar for real estate agents to get clients, we will be talking exclusively from the Investors point of view. Thank you! We look forward to having you join us for a lively discussion, and networking opportunity! 

The Venu for tonight's meetup is 7070 S 2300 E, Cottonwood Heights, UT 84121

Look for the sign on the door, there is a Re/Max Sign on the building, but we'll be in a meeting room down the Hall - Thank you!!  Gary  

for more information please call or text me at 801-821-9292

Hi, Devin, we are beginning a meetup, we don't have a website, but do anticipate that by our first meeting we'll have more details available. If you are interested we'll keep you posted. Thanks 

Are you looking to associate with a synergistic group of other like-minded Investors who are working to increase their portfolios? Would you like to come, learn, share and increase in your knowledge?  Join us as we begin this journey! 

Thank you all for your excellent suggestions! I'll see what transpires and post an update.

Best, Gary

Hello - This is my first attempt at posting something here and I am looking for a some of your experience here to help me fill in my knowledge gaps.

I am helping my mother in law sell her home, we have a cash buyer, but the buyer doesn't have enough cash for the entire purchase - she is short about 30K. My thought is that I could have the seller create a 10 year?? note, and rather than wait and collect the payments (since my mother in law is in her 90's) Sell the note? 

Any thoughts or suggestions on this? Should it be a 10-year note? what should the interest rate be?

Thank you for taking the time to respond to this!

Best regards, Gary