Resident Financial Guru Paul A Drockton M.A. Gives Insight into the Future of Utah Real Estate
By Paul A Drockton M.A.
In 2007 I was running a multi-million dollar Mortgage Loan Company and Real-Estate Investment Portfolio. In fact, I put together the I-15 Storage Unit Project at the Spanish Fork Exit. My partners were NFL Players, Contractors and Developers. Our Portfolio was valued at $35 million dollars, with projects in Salt Lake, Vernal, Utah County etc.
As a Mortgage Lender and Seasoned Financial Advisor, I made sure that the Borrowers would be able to make their payments well into the future before I would agree to financing their loan. As a result, when the storm hit, and foreclosures mounted, my clients were able to weather the storm.
When I saw the storm clouds begin to gather I called my clients that were holding Investment Properties and told them to sell everything but their Primary Dwelling. Then I instructed them to buy Precious Metals to continue growing their Asset Base. Some Listened and some didn't. In fact, I sold my own Primary Residence at Market Peak and moved into Rent with my family.
After the Sale Closed, Property Values first stagnated, and then went backwards. Of Course Precious Metals Went the Other Way.