All Forum Posts by: Rick Tripp

I know a former attorney, now escrow officer (go figure). I'll run it past him to see if there are any immediate red flags.

What if some (most,all) of the profits helped support BP?
(Rich Weese post, "donate to BP")

An odd thought came to me, probably not workable, but maybe an interesting mental exercise.
Most of the deal postings on BP are looking for funding so why not put together an investment fund with BP users?
Being foolishly simplistic, 25,000 BP users puting in $10 each is a quarter million bucks. What could we accomplish with that? There seems to be no shortage of great deals out there.
I know getting everyone to participate would be impossible, but how many of you would? What if the the 300+ users that log on each day kicked in $100 each? That's still a decent chunk of cash to do something interesting.
Any thoughts?

Welcome Sandy and Steve. Its good to see someone else from Sacramento on board.

Rick

First stop would be your local planning department. Will they let you do what you want to do? Doesn't sound like a quick project, do you have the resources to hang in there during development? That's how people get "taken advantage of in the budget". What do you bring to the table other than the introduction?

Chris,
How are you "very involved" with self directed IRA's? I'm interested in working through the likes of Pensco placements. Need advice from someone more knowledgable than I am.

Rick

Globalvillage,
In California we can have any number of investors holding a fractional interest in a first deed of trust. If you need $300,000 you could have four investors with $75,000 each holding a 25% interest in the 1st DT.

Good luck,
Rick

Dan,
If you have info on how fractionals are used to invest I would like to explore the strategy. Can you refer me to any resources on the subject? As Jeff indicates, I have only seen them in vacation properties.

Thanks,
Rick

Michael,
What will the land appraise for after demolition? What are the costs of demo?

Joshua,
Perhaps I can offer some thoughts regarding fractional mortgages. It would be helpful to me to know if my understanding is in line with Susan's professional opinion.
When you invest in a resort location it is common that upscale properties are often times owned by a group of people to effectively reduce the cost of ownership. The theory being that you don't have to pay for more of the property than you will use. Fractional ownership differs from "time share" in that it is typically limited to very low numbers of owners. In the Lake Tahoe area the common number of fractional owners seems to be seven. In Hawaii it is common that CC&Rs limit fractional owners to a minimum of 60 ownership days per year creating a limit of six owners. A fractional mortgage is simply the debt instrument that enables an individual owner to aquire one of these segments of ownership.
I hope Susan will let me know if I am somewhere close to being accurate.

Rick