All Forum Posts by: Mike Krog

I agree, I've been to all of them and they are hit and miss. Sometimes they are great, other times, not so much. Networking varies as well. Most only require a small guest fee to attend and the info is definitely worth it. All are very nice people and happy to give great advice. Find out when their monthly meeting or lunches happen and give it a go. 

Here are the websites:

slreia.com

https://www.utahreia.org/

https://uvreia.com

www.wareia.com

I'm seeing deals at those values. I get a wholesale deal sent my way around there sometimes but have yet to pull the trigger on any. The comment was mostly based on the numbers I'm seeing from the investors I work with. That's where we like to be as a lender. 

@Mike Palmer

Hi David, if you need Hard Money advice or a loan. Let me know. I'm in Sandy and manage a $10m fund.

@Jay Hinrichs, you are right. I understand a lot about the business from the hard money side and can recognize a good deal (or exposure position) when I see one. I guess where I lack is the know how to create the right balance when rehabbing a home for flip or rental. What features give the biggest return, like add a bathroom, add a bedroom, etc. without over building in niceties or bedrooms. 

Hi BP! I'm a hard money lender in Utah and newbie investor. I'm on the lookout for investing tips and techniques for finding the right property for a flip or buy and hold. 

If anyone has hard money questions, I'd be happy to help.

I'm looking forward to connecting!

There can be tax liens on the property, no time for traditional financing, they think getting it listed is complicated and don't know how to work with a realtor... Many times a wholesaler is the one that starts the conversation so the seller will just go for what's easy. It's tough to beat closing in a few days for cash. 

Go in reverse, figure out the ARV of all properties and offer based on a certain percentage of that number. A good rule of thumb in Utah is to offer about 60%-65% of ARV. You can then wholesale those properties for about 65% - 70% of ARV. That's where the flippers that work with me typically come in on for their purchase price. If that number works for the sellers, you have a deal that pencils.

Just make sure you have the go ahead from the folks who pay your paycheck at your day job and you're good to go. Each employment situation is different. Talk to them about your time commitment and when the RE investing/wholesaling will be taking place. Also, be mindful of your approach with your insurance clients.