New to Real Estate · Salt Lake City, UT · Member since 2020 · 2 posts · 1 vote
Hey everyone,
I'm a new investor living in SLC, Utah looking to create cash flow through long term rentals. My husband and I have purchased two personal homes over the years, and even been long distance landlords due to a move, which has taken the edge off diving into buying a home. I have been devouring the BP podcasts at 1.5 speed (and totally loving them)!
My plan is to purchase at least one multi-family unit (2-4 doors) by the end of 2020. Although we are handy, I'd love to not have to perform too much work on the property for my first one.
I'd love to connect with anyone investing in the Salt Lake Valley area, and I've been looking in Michigan for properties as well as SLC prices are a little steep for my current budget.
Rental Property Investor · Ogden, UT · Member since 2020 · 8 posts · 9 votes
6y
Hey @Leanna West, welcome! That sounds like a pretty solid plan. I just bought a SFR with a mother-in-law apartment in Ogden since it was a bit cheaper than the normal small multifamily prices. It seems like the deals are there as long as you keep checking.
Realtor · Ogden, UT · Member since 2019 · 7 posts · 3 votes
6y
@Leanna West
Hey Leanna! I'm a Realtor local to SLC and I am always on the lookout for cash flow flips! Feel free to DM me and we can chat about your goals. Maybe I can find something for you!
Real Estate Agent · Park City, UT · Member since 2016 · 113 posts · 112 votes
6y
Hey @Leanna West Welcome! Like others have said, Ogden is a bit cheaper and has good decent cash flow still. There are some other deals to be had in SLC, just have to look harder. I am a realtor (seems like everyone is) I own a duplex in Ogden and the cashflow has been good and so has the appreciation. I am thinking about selling though to move up to a larger property, but its hard to let go of a good rental!
Realtor · Minneapolis MN · Member since 2018 · 84 posts · 61 votes
6y
Hi Leanna, welcome to the forums. Do you still have the properties you and your husband bought? Where are they located? Are you looking to sell any of these to help purchase your next one? As mentioned above, Ogden is a solid option if you're looking to cash flow. Salt Lake City is a bit harder to find cash flowing multi family as everyone is looking for them at entry level.
New to Real Estate · Salt Lake City, UT · Member since 2020 · 2 posts · 1 vote
6y
Thank you to all for such a warm welcome! I'm still learning how to use this platform, but appreciate the solid Ogden beta and will start my searches there. I've sold one of our homes (was located in COS, CO) and the other is our primary residence. We do Airbnb the basement though, and that has been a mega house hack!