Flipper/Rehabber · Rock Springs, WY · Member since 2018 · 12 posts · 8 votes
Hello I'm an aspiring Investor in Southwest Wyoming and am looking for other fellow investors in the area that o could maybe connect with. Are there any on here?
Hey @Robert White, there are a few investors on here from WY. I am in central WY, but used to live in Rock Springs. What are you looking to do for investing?
It's nice to meet you @Jerry W. My wife and I are looking at buy and hold and Fix and flip properties. More on the buy and hold side. We are still looking for our first property but have a few potentials that we are gunning for as long as everything checks out. What is it that you do for investing?
@Robert White, I mostly do buy and hold. I occasionally resell a house I buy to keep a little cash on hand. I am also doing a test on vacation rentals. I don't think they are as popular here as in resort areas, but I think the demand is growing. Where are you planning to invest? Sweetwater County?
Thank you @Steve Vaughan. @Jerry W. we are looking to invest in Sweetwater County fro now. Mainly Rock Springs and Green River. I feel I need to keep the properties close to me for the first few so I can manage them myself and get a good feel for it. The biggest issue I have found is trying to get funding here. There are a lot of companies that do it but not in Wyoming. Do you have any advice for me in this department. I have only found one place that lends in Wyoming so far. Traditional loans are out of the question for us right now.
I'm in Casper but grew up in RS/GR and still come to visit family there.
As far as lending, I have had good luck with commercial loans from local/regional banks. Got a LLC first then a business checking account and line of credit all pretty quick and easy.
There is great info and training in the links above, and many experts on the site.
I'm still a newbie but if you have any questions I might be able to answer, let me know!
@Robert White Sweetwater County has been a series of booms and crashes. You might find some owner financing there. You might also find some subject to. You have to be careful they are good deals though, it is not uncommon for folks to be upside down on them.