Brand New in Orem, UT

14 Replies

Hello! I am a new investor in Orem, Utah. Very excited about the great people and information on this site. I am interested in buy & hold, wholesaling, flipping, though I am of course open to other methods (are mobile homes different from regular buy & hold?). I already own a rental in Provo, and I am familiar and interested in Utah, Salt Lake, and Davis Counties.

Welcome aboard Alex!  How long had you had your Provo rental?  Also I'm curious...  How did you find BiggerPockets?

If you haven't already check out the podcast and the Ultimate Beginner's Guide. Not that you're a beginner...  You have one more rental than I do.  :)

http://www.biggerpockets.com/toolkit

Thanks for the welcome, @Travis Fisher, @Dmitry Fomichenko, @Jeffrey Breglio, @Dan Dixon.

@Dan Dixon, I'd love to meet. I know it's taboo to work with multiple agents, though, so as an FYI, I am currently working with an investing agent with Century 21 in SLC, but so far they are only sending me multifamily properties. I need something I can wholesale and flip in order to fund any multifamily properties I do want to get. If there's a way we can still work together and not step on any toes, let's do it.

@Jeffrey Breglio, thanks for the advice. I planned to go to the July REIA meeting in Utah County but couldn't leave work in time that night. I'll be there in August for sure. I saw your website from the REIA's website though, and have been planning to reach out to you. I have a four-plex under contract that I may need to close on and get rental contracts, etc put together.

To answer your question, @Travis Fisher, I bought my rental right after the market crashed at the end of 2008 to be my residence while I finished at BYU. I was flush with cash at the time and I didn't want to rent. I started renting it out when I moved to Berkeley to do my graduate degree in 2011. I've never had a vacant month yet, but I barely make anything on it, so a definite goal in RE Investing is to pay that down and get some real cash flow out of it.

I found out about BP because I wanted reviews on the Flipping Formula RE Seminar. BP folks advised against it, but I did it anyway and was glad I did.

@John Cohen I may have something for you. Can you answer a few questions?

Do you work with wholesalers and repair them or do you want turnkey? 

What kind of multi family unit do you want? What characteristics (bed/bath sq ft, acreage etc)?

What areas are you interested in?

Price range? ROI target?

How quickly can you close?

Thanks

Originally posted by Jeffrey Breglio:

Networking with local investors is the best way to find more deals. I'd suggest attending the REIAs! There's one in Utah County and a couple in SL County.

 Jeffrey, do you have the contact info for the Utah county club? I attended a meeting for one before the crash years ago. Do you have any recommendations for people here on BP in Utah to connect with?

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