Money Markets??

Question

Hey everyone. I live in Utah right now and am looking to invest in some properties. It is not the best market to buy below value. I have CASH. I am ready to go. Just need some direction. Anyone from the east coast see anything exciting going on? I am currently doing some work in New Jersey and its great. Let me know. What's Boomin? Obviously its a sellers market right now.. but I know there are deals!!

Skyler Smith · Answer

@Jake Maughan I've been getting cash flow in Logan. My clients have as well. I know that the wasatch front is crazy right now but there are markets in Utah that still have great deals

Eric Hawkins · Answer

Congrats and welcome! If you are looking to invest outside of UT (I must admit to have never looked in that state but could head to the top of the list) There are a great many states to look.  Mostly depends on your investment capital and objectives and timelines.  What strategy and supply lines would you need etc.  We can help you with that no matter where you go. We just have to research UT \

Jake Maughan · Answer

I'm in your same boat.  I've got cash, but no deals.  Talking to local investors, I've been told that "You can’t expect to have cash flow when you buy a house or condo anymore.  You only buy for future appreciation and tax deduction."

Robbie Weidner · Answer

Hey @Alison Decastro, Thank you for the reference. I really appreciate it! I will take a look around.

Robbie Weidner · Answer

I love all of these responses.. I guess I was looking for basic wholesale deals. Some of those terms you all have mentioned are foreign to me. (I'm learning.)  I was told wholesales are a great way to start investing and to get more familiar with the market. I don't want to mess up, or miss the details with to much. @Derek Lamonde @Skyler Smith

Alison Decastro · Answer

@Derek Lamonde

Have you checked areas like Long Branch and Asbury Park?   I  bought a good 5 family in LB 3 years ago-I know things are a little different now,  but the areas are sort of transitioning and you may be able to find  a good multi.

Derek Lamonde · Answer

What are you calling a deal?

Cap rate?

Appreciation?

Flip?

Jersey has been getting really tough over the past couple of years, unless you want to gamble on Newark, Jersey City, New Brunswick, Union or the Oranges. The pros are snapping up everything in the better areas and anything that needs work is going to cost through the nose because the contractors are working over-time since Sandy. I'm a cash-buyer and have been looking for a MFH for months w/ a 10% Cap and reasonable appreciation in a C+ or better area and am having no luck whatsoever. I'm at the point where I'll probably just dump the cash into a principal protected REIT at 7% return and avoid the hassles of dealing with tenants.

Skyler Smith · Answer

there are absolutely deals in Utah. There's not a ton to choose from if you're only looking on the MLS, but I'm still seeing interesting properties come up there too.

What are your goals? If you are going to be an active investor and are credit worthy, you could get in to a big deal or bundle several SFH deals. Don't let that cash burn a hole in your pocket and just buy anything. Look at the long term and see how you can maximize that equity.

If you want to be a little more hands off you could do some private lending. I've got a couple of private notes that I'm making payments on, the yield is not too bad.

Money Markets??

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