Updated about 3 years ago on . Most recent reply
Newbie out of state investor looking into Utah for Multi-Fam
Hi BP, this is my first post to the forum (small but good milestone) and I am thinking of targeting Utah for my out of state investment. More specifically I am looking at Provo Utah as well as West Jordan which has been growing rapidly. looking to buy B/C+properties between 4-10 Units. Any investors in this area willing to connect so I can learn a little more about the market as well as learn more from someone that is doing deals here. I am a newbie, currently own a property in Worcester, MA. Would love to network with investors in this area. Let me know if there is anything I can do to help you as well!
Most Popular Reply
Hey Armando,
Utah has a strong market with lots of investing opportunities. Provo City does require you to get a rental business license and since you live further than 60 miles away you need to hire a property management company.
I highly suggest opening up your search to all of Utah and Salt Lake Counties as a minimum. Most of the state lives within a small area so when you name different cities they're pretty much all next to each other.
Multifamily generally speaking is really pricey but you can pick up some off-market wholesale deals that are not too bad and make some renovations. There are some other markets outside of the population centers that are hurting for housing.
Lots of great deals coming to our market right now.