Salt Lake City · Member since 2024 · 3 posts · 1 vote
Hi everyone, I'm looking for experienced investors in Utah. I'm new to real estate and I'm looking to start investing, I've thought about many strategies like the Brrr strategy. I'm really just wondering what people in Utah have had success with and in what areas?
I too have made seller financing deals work and it totally depends on your long term strategy. If you're looking for immediate cashflow, I'd say you're going to have to look at southern Utah and invest in short term rentals. I own a cabin with a 7.8% interest rate and we have cashflowed every month even throughout the shoulder season.
But my favorite deals here have to be my long term rentals in salt lake. If you can house hack or cover the majority of your expenses long term you will be happy for it. I bought a tiny bungalow in sugarhouse in 2017 as my first deal. Went 3% down and house hacked for one year. Bought it for $303K and now it's more than doubled in value. So depending on the capital you have and what strategy you're looking at there are options for you in Utah.
I'm an investor and agent here and would be happy to walk through your priorities if interested.
Investor · Salt Lake City, UT · Member since 2015 · 56 posts · 25 votes
2y
Due to my intense W-2 job, I'm pretty passive and have purchased stabilized properties (fourplexes, duplexes and single family). I'm not an agent, just an investor with 28 doors managed by my PM and watching the cash flow. Happy to connect.