All Forum Posts by: Rick Tripp

Sacramento, CA, rehab short sale.
Good, established neighborhood.
Current value/purchase cost--$125,000
Rehab costs--$25,000
ARV--$175,000
Have lease/option buyer in place. Buyer is a self-employed experienced builder with solid references. Buyer will do all rehab and pay all costs of rehab.
Buyer filed chapter 7 BK five and a half years ago. Buyer's credit payment history across five accounts is perfect since BK.
Buyer's April, 2011, Experian score is 653.

Questions;
Is a two year lease/option a possibility while buyer continues to re-establish credit?
Is there private funding for the $130,000 purchase?
Thoughts? Suggestions?

Its always good to see another Sacramentan on board BP.
This is a great online community and I think you'll get more response if you're willing to post details on your properties.
With that said, please feel free to contact me with info on your deals.

Welcome, Sarah.
Its great to see another Sacramentan on board.
Perhaps we'll have the opportunity to work together sometime.

Hello Charlie,
Sacramento can be a pretty good market. If you find yourself getting more interested here perhaps we'll have the opportunity to share experiences.

Best of success to you.

Great to have another Sacramentan on board. Perhaps we'll have the opportunity to work together sometime.
I'm one of the developers that submitted proposals for a new Kings arena. You won't see me on the TV news this time around because I've chosen a path outside of the Mayor's Arena Task Force process.
If you'ld ever like to discuss REI please feel free to contact me. Contact info is in my signiture.

1. Definition of Thinking Big

My generic definition would be "A defined process or business plan that, when implemented, will acheive a specific goal that would ordinarily seem to be well beyond the reach of one's resources, experience, or education". It's a very subjective concept. To a homeless person it could be a plan for the next meal or a dry, safe place to sleep. To Bill Gates it might be global technological domination.
In my case it has been the development of a business plan to privately fund the construction of billion dollar professional sports facilities without the use of public resources.

2. Lottery

Answer #1-- If the lottery proceeds were received after the first launch of my business plan mentioned above, I'd buy real estate in the immediate vicinity of the new stadium or arena and place those real estate assets into a charitable lead trust under the management of my three adult children. The kids would continue to experience the value of a charitable service way of life while maintaining the assets that will eventually provide for their comfortable retirement.

Answer #2-- If the lottery proceeds were received before the launch of my first business plan mentioned above, I'd use the lottery proceeds as "seed money" for the business plan which would, in time, cycle back to Answer #1.

Monthly average decline in market value.

The entitlement process is where you create your profit in development. The concept is simple, you are taking the land to a higher and better use (and more valuable). If you haven't done it before, don't tackle it on your own. The process can be dramatically different from state to state and city to city. It will almost always take longer and be more expensive that you anticipate. Find yourself a mentor, joint venture partner, consultant, etc. that you trust.

Hello Melissa,
I have a specific property interest on Maui at Wailea. I'd be interested in getting some local feedback from you if you wouldn't mind. Contact info is in my signiture.
Welcome to BP, it's a great resource.

Hello Jay,
It's good to have another Sacramentan on board. Perhaps the opportunity will come that we can explore opportunities together.
My company made one of the seven proposals for a new Kings arena and I've been presented with some interesting real estate proposals related to the arena effort.
Best of success to you.