Updated over 9 years ago on . Most recent reply
Draper, Utah Hold 'Em
Hi, I'm Melissa Warnock, and just stumbled on this site. I've been investing in real estate since 2004, but now I'm ready to invest more seriously. I like to buy and hold in my hometown of Draper, Utah.
Most Popular Reply
I don't live far from you. Draper is a tough market for buy and hold because cash-flow isn't great. You can find small, older homes in West Valley for 140K that need a little work but will rent for $1300 per month. In Draper you will occasionally find an old, small house and pay 200K+ and maybe get $1400 per month in rent. In the newer parts of Draper you will pay $350K and up for a home and rent will only be $1800 per month or so. If you are investing for long-term appreciation but monthly cash-flow is not a concern, Draper is a good bet. The schools are good and you will generally attract better tenants than the northwest side of Salt Lake. I am not an agent but I can recommend a couple good investor-focused agents if you send me a message.
@Chase Nye - I've been in Utah for over 11 years now and I'm pretty bullish on the single family housing market for the next couple years at least. ! My post is toward the bottom!
Have fun and check out the local . They are a great way to network and learn!