All Forum Posts by: Jeff Rappaport

@Brad Morgan, it really depends!  I sold a small two bedroom house a few months ago in Pocatello for $45K and she gets $650 per month.  I think you will need to focus on the smaller homes but it is still possible.  As you get in the bigger homes and around $100K I don't think you will find many that will meet your 1% rule.  You will do better looking in some of the smaller areas like Pocatello, Idaho Falls and Twin Falls. As far as multi family goes, everything I have sold exceeds the 1% rule.  

@Brad Morgan

Sorry, forgot to let you know I was responding to your post.  Take a look at the last one.  

Brad,

I work in the Idaho market.  I have not bought or wholesaled anything in Twin Falls but I have done quite a bit in Idaho Falls, Pocatello, and Caldwell.  If Twin Falls is anything like Pocatello you can get great deals on multi family properties.  I currently have 8 for sale in Pocatello.  They all beat the 1% rule.  I have done a couple of houses as well.  I bought a house for $94K and lease optioned it out for $800 a month.  Would not suggest that strategy on the low priced houses.  If you are looking for good deals in Idaho or would like to know more about the market I am happy to chat with you.  

Hey @Jennifer Dean, congrats on your purchase!  I do a lot of the same investing that you are interested in.  We just had a meetup from BP last week and it was a huge success.  If you would like to come to our next event pm me.  Always looking to meet new investors.  

@Jack Aduwo,@Marc Andrew, @Jared Christian,@Chad Zulich, @Shari Coulter@Priscilla Durkin, @Bryce Young, @Jake Isaac, @Mike Gallagher@Jay Elggren, @Travis Fisher,@Travis Osborn, @Lync Jones, @Brandon M., @Sean Tagge, @Allen Sproul, @Andy M.,@Becca Summers, @Rob Green, @Alison Kovac, @Jed Alsup, @William Hochstedler, @Brian Christensen, @Taylor Harris, @Mark Kemp, @Ron Lopez, @Brad Koivu

Wanted to let all of you know about a Utah meetup on Thursday, December 3rd at 6:30 pm at the Huddle (Ft union Blvd and about 2600 E.) in Cottonwood Heights.  Sorry for the late notice but wanted to get a meeting scheduled before the holidays and in between all the other club meetings.  Investors of all experience and knowledge welcome!  There will be no charge and nothing pitched.  Just networking and getting to know one another.  Hope to see you there!

Just to make things clear - there is no cost and nothing will be pitched at this event.  Strictly a time to network, learn and share experiences.  If the group wants something else we can decide that together!  Look forward to a great turn out!

Raj,

Definitely want a return address on your postcard.  You need those returns to update your list and to go after vacant properties.  Some of your addresses will not be correct or forwarding address has expired.  I have never used Vista print but every mail house I have ever used has a return address that can be printed on the postcard.  I use GoBig printing and I do handwritten postcards and always include a return address.  I usually don't include my name or company name as part of the return address.

Thanks Jay!  I think it will be great!  Look forward to meeting new investors and helping each other reach new heights in our businesses!

Katie,

Many investors target owners who have owned their home for at least 10 years.  They are predicting that by owning for a certain amount of years that they will have a significant amount of equity.  So, yes you are on the right track.  However, it is what most investors do as well.  You can go to Listsource and pull a list in desirable zip codes or your County and search for absentee owners with a last market sale date between 1900 and 2000- 2005.  Depending on what you are looking for (high equity, low equity, take over loans etc.) here are some other sources you should consider:  

Vacant houses

Code violations

Evictions

Expired listings

FSBO

Rentals

Probate/inherited houses

Divorce

BK

Quit claim deeds

Hope that helps!  Good luck to you!

I noticed there was a big demand for a meetup in Utah for real estate investors.  We are going to do this on Thursday, December 3rd (sorry for the quick notice) at 6:30 pm at the Huddle in Cottonwood Heights.  It is located at Fort Union Blvd (7000 S.) and about 2600 E.  Everyone is welcome!  Please rsvp to me so I can get somewhat of a count.  Experienced investors to novices all invited!  Look forward to meeting you and networking.  This meeting could change your life!