I'm trying to get smarter on the Provo, UT rental market as I'm a new out-of-state investor. As part of this process, I'm planning on doing some research into potential properties and look into the high-level metrics that I care about (purchase price/rent, cap-rate, etc.) to help filter the list of potential properties to look into.
I'd love to get a second pair of eyes/opinions on my research to help validate what I'm seeing. In return, I'm happy to share out my data to anyone who's interested in getting regular updates on my data and research. I'm also hoping I'm picking the right metrics people care about... if not would love to learn what metrics people prioritize and prefer.
See sample output below (note this is just illustrative sample output and does not reflect accuracy - this will get better once I actually dig into the numbers and validate them). I'd love to know how I can make this helpful for potential people who I share this data with.
Provo / Utah County is my home court. I've done a few deals here and have analyzed more than a few! If you need a sounding board I'm happy to help. Mid and long-term fundamentals look good here. A growth economy + a diverse economy is a compelling combination.
Thanks Race! Will PM you directly.
@Race Ostler I'm moving to the Salt Lake Area very soon. Do you know if there is a networking real estate group locally?
@Josh Jensen , there are occasional BP meeetups but the most public meetups are the REIAs. The Salt Lake one is called SLREIA and there is a good northern Utah County one called UVREIA which meets Pleasant Grove. Lot of good info there and a lot of deals being done from connections made there
@Robin J. I really like your spreadsheet for analysis. Are you available for a call sometime in the future? I can direct message you my number. I'm moving to that area very soon and would be able to physically check things out for you if you want. Thanks.
Hey Josh! Yes definitely, would love to connect. I'll DM you separately for any follow-ups
Here's v2 of this spreadsheet. Once again, using fake numbers, but this time I added several other metrics that people told me that they wanted to see (cap rate and cash-on-cash return).
If enough people are interested in this type of output, I can actually work on operationalizing and updating this spreadsheet on a regular basis (e.g. once a week).
@Robin J. great spreadsheet. One idea: add a column next to cap rate for neighborhood appreciation (ie. last years', or 5-yr average). For instance, a 10% cap with -5% annual appreciation can be considered closer to a 5% cap.
Sorry, I’m just seeing this! I’m an investor living in south Provo but looking to get my third door out of state.
I’ve beaten the Utah county market to death as far as deal analytics and would be happy to touch base with you.
Let me know how I can help.