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Murray Luncheon

with... Dominick Delgado

SLREIA lunches provide a great opportunity to network with fellow investors, gain knowledge and information while at the same time grabbing lunch.

Friday, October 1, 2021 12:00 PM - 1:00 PM
Red Robin
316 E Winchester St Murray, UT 84107


Speaker: Jeff Rappaport

Topic: How to Increase your Conversation rate and Wholesale
 

BIO: Jeff Rappaport

I have been a full-time real estate investor since May 2000. A late night informercial on how to
buy properties with no money down started it all. What really got my real estate career started
was that I began to receive other seminar and informational products from real estate
educators. I decided to purchase Ron Legrand’s three color course on
Wholesaling/Rehabbing/Terms. That course changed my life! I abruptly quit my job of 9 years
with no savings and put my self in a position to sink or swim.
I started out buying properties subject to the mortgage and then lease optioning them out to
tenant/buyers. I accumulated 35 houses over a 3 year period of time. In 2001 I started doing
short sales on properties that were in default. Back then, I would negotiate with banks, lien
holders, IRS and anyone else that may have shown up on Title. In many cases, I would have to
educate the bank on what a short sale was and why they should consider taking a discount.
Boy, things have changed! This was a game changer for my business. I was bringing in large
sums of money on each deal.
In 2001, I co-founded the Salt Lake REIA. I was the main speaker for at least 2 years and we
were able to build this group to hundreds of real estate investors. I am happy to say that group
is still going strong today.
In 2004, I began teaching real estate seminars on all type of topics – Lease Options, Owner
Financing, Pre-foreclosures, Selling Houses Fast, etc. My company grew very quickly and I was
speaking locally and nationally. I enjoyed teaching new investors and making an impact on
peoples’ lives. I continue to teach today.
As my experience and knowledge grew, I branched out into commercial deals, land and high-
end renovations. With a couple of partners, I made $2.1M flipping some land. Everything was
great until the crash of 2008. I owned 9 high end properties that were in various phases of
renovation and several parcels of land including a 58 unit subdivision I was selling off lots to a
builder. All lending basically shut down. Values plummeted especially on the higher end
properties and land. All of a sudden, I had no exit strategies for my properties. I kept them
going for about 3 years until I ended up losing everything. I exhausted my savings, retirement
and ended up losing all of my properties to foreclosure including my own home.
During this same time, my father passed away and my wife filed for divorce. My business was
in a shambles as was the rest of my life. I moved into a rental and started looking for a job. No
one wanted to hire me. I was out of the workforce for about 12 years. Not sure how I avoided
being homeless. It was a very bad time for me.

I got really lucky in 2012 where I got a job with Worldmark selling timeshare credits. I hated the
job but I met the most amazing woman – Rebecca Jensen. She became my best friend and
ultimately, my significant other. She convinced me to put my past behind me and gave me the
motivation to try again. I started a new company in 2014 – Wasatch Home Buyers. I was a
wholesaler in Utah and Idaho. Back then I was virtually wholesaling without really knowing it.
Fast forward to 2021, I am still a virtual Wholesaler but now we work nationwide and our
niches are commercial properties and creative finance. We have wholesaled Storage facilities,
Apartments, Mixed use, Mobile Home and RV Parks and land. Our best assignment fee has
been over $350K. I expect that soon we will do a wholesale deal that will net 7 figures!
Creative financing has played a large role in my business from the very start. You would think
it is not very prevalent when the market is so good. Quite the contrary. We do a lot of creative
financing deals all over the country. I started a Podcast in 2018 with a fellow investor. It is his
journey in learning how to use creative financing in his business. We have been doing this for
over 3.5 years now. It continues to grow in popularity! Check it out at
www.thecreativefinancingpodcast.com.
I believe very much in education. I have taken seminars, webinars, bought books and
tapes/cd’s and attended a number of Mastermind events. I estimate that I have spent over
$500K on my education over the years and continue to do so.
I have adapted to the changing real estate market for the last 20 or so years. I look forward to
continuing to do that. I have big plans for the next 5 years. I want to consistently produce at a
8 figure level. I want to work on even bigger real estate projects. I want to do note investing
on a more consistent basis. I may even dabble in a few things I have never done before.
Whatever happens, real estate has given me the freedom to run my own business and have the
freedom in my life to do what I want when I want. I have met incredible people. I am grateful
for all of the lessons learned along the way! Look forward to many more!


All lunch meetings at the Joe Morley’s BBQ will always be held on the 1st Friday of every month.

SLREIA lunches provide a great opportunity to network with fellow investors, gain knowledge and information while at the same time grabbing lunch. There are three lunch locations so that one is near enough to make attending possible for you. All lunches begin at noon.


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Free Event

Date:  Friday, October 1, 2021
Time:  12:00 PM - 1:00 PM

Location:
Red Robin
316 E Winchester St
Murray, UT 84107

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