Logan Utah thoughts??

Question

William Hochstedler · Answer

@Vaden Hoffman

I think, in the couple of years I've been on Bigger Pockets, you're the first person looking for a buy and hold in Logan.

You are right that it's super stable.  The University gives it cultural depth and there's lot of blue collar employers.  During the recession any dip in the market reflected by macro numbers were driven by heavy losses in huge spec homes that builders were throwing up in 2006-7.  These properties didn't have any buyers in the first place and when the market tanked, they lost 40% of their value.  The affordable homes (under $150K at the time) did not lose any value at all and, for certain property types actually appreciated during this time.

Like everywhere in Utah, we have low inventory and the market is as "hot" by Cache Valley's provincial standards.  Cash flow is modest, but price points are attractive.  I joke that it's a good alternative to buying treasury notes.

Let me know if we can help.

Welcome to BP!

Mike Gallagher · Answer

logan is a great area, its has a "home" feeling, and a very stable economy, even during down turns. I find that once people move there, they rarely leave the area. it has a great university and I cant think of anything negative to say about the area.

Nik Krohn · Answer

@Vaden Hoffman, @Skyler Smith is a rockin realtor out there who helps investors. Might be worth connecting with him

John P. · Answer

Am very familiar with real estate there. Extremely stable. It's not exciting but it's stable.  This year it has been VERY hot there.  The real estate that is. I would look at the nice small towns around Logan like Providence.  You can get very long term tenants out there.

Skyler Smith · Answer

Thanks @Nik Krohn :)

I do indeed work as an agent in Logan, and my personal real estate portfolio is made up of Logan buy and hold properties. William's right, you're not going to get "2%" deals here, but it's a slow moving market (in a good way) with super high employment and solid job growth.

Vaden Hoffman · Answer

Thanks @Nik Krohn just messaged him

Vaden Hoffman · Answer

Thanks @Mike Gallagher is there a strong rental market outside of the college area?  Or should I focus my search around USU? Thanks for the info @William Hochstedler very good to know! There seems to be a decent amount of duplex's in good shape near USU.  Do either of you have suffusions for a property manager?  I've read good things about Reeder Asset Management. Thanks!

Logan Utah thoughts??

Most Popular Reply