Columbia, SC · Member since 2013 · 79 posts · 4 votes
Hey Guys,
My fiance just got a job working at the University of Utah and we will be moving to Salt Lake City from South Carolina at the beginning of May. I'm interested in investing in the area and would really like to network with anyone there but right now we're kind of scrambling for a place to rent out, at least until we learn the area and find a house, since it's kind of last minute. We've had some input from her soon-to-be coworkers but I would like you guys' opinions on what the good and bad areas are and any other useful information. Also, if anyone has a rental opening up in May we would love to hear about it.
Business Analyst / Investor · Bountiful, UT · Member since 2016 · 35 posts · 13 votes
10y
Check KSL.com classifieds. In Utah craigslist isn't the best source of rental ads. I'd be happy to be a sounding board for rentals you find. Lots of people rent their basements close to the U which could be the way to go. My wife and I lived in Harvard/Yale, Holladay, and Bountiful when we were at school or working at the U.
Real Estate Agent · Highland, UT · Member since 2015 · 407 posts · 272 votes
10y
I have one in Lehi which is in Utah County about 45 minuets south of Salt Lake. Single family 3 bed 2.5 bath $1375. How close do you want to be I can give you a good understanding of the area.
Investor · Sandy, UT · Member since 2015 · 70 posts · 47 votes
10y
How close to the University would you like to be? What's your budget? Year lease or short term?
I might be able to rent you a ~2200 sq ft single family 4/2 for $2400, in the Foothill area right next to the University (assuming we close on time!). I can also do short term-lease (3 months then month-to-month) for $3600/mo.
I also have a 3k sq ft 4/3 in Sandy, right next to the Cottonwood Canyons and ski resorts, for $2k/mo / $3k short term, with walkout deck, views and hot tub. Availability TBD.
Investor · Sandy, UT · Member since 2015 · 70 posts · 47 votes
10y
Really good areas: Upper Avenues, Foothill, Harvard/Yale, Federal Heights, Olympus Cove, east Holladay, Emigration Canyon
Good areas: anything east of 1300 E with a few exceptions, 9th and 9th, Sugarhouse, West Capitol / downtown, Millcreek, Cottonwood Heights, Sandy, Draper OK areas: Murray, Taylorsville, South Jordan, Riverton/Bluffdale/Herriman, anything in the Great Mormon Beyond (Utah and Davis counties), Liberty Wells in downtown
Bad areas: West Jordan, Midvale, Rose Park (despite what people say), anything west of State St. and north of 3300 S
Really bad areas: South Salt Lake, West Valley City
For investment: cap rates pretty much suck across the board, but deals can be had. What sort of properties are you looking for?
Business Analyst / Investor · Bountiful, UT · Member since 2016 · 35 posts · 13 votes
10y
Check KSL.com classifieds. In Utah craigslist isn't the best source of rental ads. I'd be happy to be a sounding board for rentals you find. Lots of people rent their basements close to the U which could be the way to go. My wife and I lived in Harvard/Yale, Holladay, and Bountiful when we were at school or working at the U.
Investor, Entrepreneur & Real Estate Agent · Salt Lake City, UT · Member since 2016 · 7 posts · 0 votes
10y
Hi Chris!
You are moving to Utah at a great time to enjoy the warm weather and nearby mountains! I've known a lot of people that have moved to Utah and sometimes the culture can be a lot to handle. However, there are areas that are more liberal and have much better restaurants.
I'd recommend Sugarhouse or the Avenues (both really close to the University & considered Salt Lake City) if you are looking for quaint, quiet and really friendly. Although you will be paying a slight premium because everyone wants to live there. Living downtown is also pretty great if you are looking for large apartment complex with amenities rather than a house. If you are into that, try Seasons on the Boulevard. It's close to Trax so your fiancé doesn't have to drive to work and the walkability/views are awesome.
Best of luck! Reach out of you have any other questions.
Thank you for the offer but we would like to be pretty close to the University. If we end up staying for a while we might be looking further out, but right now we are just looking at downtown Salt Lake City.
We would like to be within a 20 minute drive to the University. I'm not really sure how bad the traffic gets there but if it's anything like Atlanta or DC I want to minimize as much driving time as possible.
We have a budget of $1,500/month but we've really been trying to stick in the $12-1300 range. We're trying to keep it small for now. Looking for a 2/1 or 2/2 that allows medium sized dogs (~40lbs). We would like a back yard or at least a near by park to walk the dog. I will be working from the house so some kind of extra room would be good for a home office but it is not required.
And lease-wise, we were looking for a 6-month lease. We thought that would give us enough time to actually move and settle down and start actually learning the area and figure out where to go from there.
Regarding the investment question, I don't know much about the market and I'm still just starting my investing career (I own one property in Columbia, SC) but I'm usually looking for SFH. I hate to to shut myself out from other opportunities though so I think it's worth mentioning that I would be interested in the right small multi-family property.
And thanks for the information on the different areas to look for and look out for.
Investor · Sandy, UT · Member since 2015 · 70 posts · 47 votes
10y
$1500/mo will be tough for a single-family near the university area. For that, you're really looking at Liberty Wells and central city (just south of the Avenues).
If you go a bit further out, like north Sandy, you'll be within 20 minutes of the University and can start to get single-family homes in that range (I don't have any though...)
Columbia, SC · Member since 2013 · 79 posts · 4 votes
10y
At this point in time we're not too picky on what kind of housing it is. SFH is preferred, but townhomes, condos, multi's, or apartments are not off the table.
Thanks for the pointing us at KSL. This looks like what we've been looking for. And yeah, it seemed like Craigslist was really under-utilized when we were looking around on there.
I would be okay with living in a basement but I don't think I can say the same for my fiance, haha. We're looking for somewhere that we have a full unit to ourselves. Probably have a better chance getting her into a duplex or something similar.
Thanks for the specific neighborhoods to look into. Not sure if we will have that luxury at this point in time though since it's kind of last minute. But I will definitely keep that in mind when we're looking for a slightly more permanent place. Seasons on Boulevard might be the way to go if it's that convenient to campus.
Also, regarding the heavily cultured areas you mentioned. Are there rules or some type of etiquette I need to learn about ahead of time? I just don't want to be put in an awkward position or put someone else in an awkward position because of my ignorance.
If you are in Salt Lake City there aren't any special rules on cultural etiquette as it is a decent sized city with a lot of people from all over the world. However, sometimes the suburbs are a bit more conservative so I'd just say be conscious of swearing or criticizing religion. But there aren't really any other special things beyond that. Utah in general has a lot of really nice and generous people. If you are an outdoorsy person you may never want to leave. ;)
I've been here for 11 years and I miss the SoCal weather but I really enjoy Utah as a community, recreation mecca and as a real estate market. It's been good to me!
SFRs near the U will be spendy but convenient. 20 minutes out will get you affordable but more diverse neighborhoods. I've got a rental SFR in West Valley and my last tenant was a UofU grad student and his family. Find the listing here or send me a private message.
Honestly, if you can visit the area you'll be much more likely to pick a spot that feels right. It's a tight rental market right now but if you've got good credit and don't smoke you'll be at the top of most landlord's lists, especially if you can sign a 12-month lease.
Thanks! But right now we don't really have the luxury of time so I don't believe we'll be able to visit the area. We'll probably end up at an apartment complex for a short period of time while we get a feel for the area.
Being a SoCal guy I'm assuming you miss having a beach around. I hear there's a lot of outdoorsy things to do around SLC, which I'm excited about, but I'm kind of a beach bum and will need to scratch that itch at least once this summer. I was wondering if you ever make trips back to California or any other beaches and how long that takes.
I went to San Diego last weekend with my young boys on their Spring break. I got in a little surfing (with a wetsuit) and some sandcastle building. It's 11 hours by car. Less than 2 hours by air. I lived in Hawaii for several years too and that's $600-$800 per person to fly, and about 8 hours with a short layover at LAX or SFO. We go to Florida about once a year too. I'm sure you'll be able to "scratch that itch" with a little creative thinking.
There are some great RE investing clubs and meet-ups here in the Salt Lake area. Make sure to look them up once you get planted. There is great networking and cooperation. Here is and I really like the lunch meetings for networking.