I have been really interested in the subject for the a couple of years now and am ready to buy my first rental property. I'm recently married and currently attending SUU in cedar city, UT. I am interested in buying either a single family with many rooms to rent to college students or a multi family. At this point I want to find a property where my wife and I can live in and househack, or rent out and live off the cash flow renting somewhere else in town. I have been watching the market for the last year and looking for the perfect deal. Now that I'm ready I haven't been able to find it. I'm still hopeful and looking everyday, I talk to realtors, search Zillow and trulia, call the number on every for sale sign I see in town, and do the bigger pocket reports for all of them. Is there anything else I can or should be doing? Any tips on finding the perfect deal in the area? I also have recently become interested in being an onsite property manager, to gain experience managing property and people and despite the challenges , it sounds fun, how would I find an opportunity like that in my area?
Hi Tony!! Cedar has been a great market for us. We have a handful of units. I've got a few realators who have been great at finding investment properties. Another option is a prop manager I work with, he is of course trying to get your business or at least loyalty. But he finds tired landlords in the hopes of taking over management and sometimes the owner wants to sell. There is also a REIA that meets in st George once a month, I think it is the 3rd Wednesday. You will find good deals there. Let's get on touch and I can give you these contacts.
Hey @Tony Solano ... Alison made some great points. It sounds like you are doing many things that will pay off. It is a numbers game, so keep at it.
I might also suggest that you call any and all "for rent" signs in addition to FSBO. You can ask them about the property and get an idea of market rents and then also ask "by chance, would you consider selling". You will find tired landlords that way also. Again, a numbers game.
As @Alison Kovac mentioned we also have Southern Utah Real Estate Investors Association that meets the 3rd Wednesday of each month. If you like, lets connect on those details.
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