I’d love to connect with any real estate investors in Utah! (Utah Valley/Salt Lake County)
I own 2 rental properties in Utah County. Just wanting to connect with other Utah investors to talk about the market, trends, different areas to invest in, economic future, etc.
Hit me up if you are investing in Utah!
We’re in Utah! We wholesale and flip. Market still super strong in Utah and there’s also no shortage of investors here. Let me know if you have any questions I can answer you
Hey @Kyle Pierce I would be interested in learning more about the Utah market as well; Should something work out I plan on investing from out-of-state, so would need to build my team as well (GC, Realtor, Attorney, PM, etc.). Thanks!
Hi @Braden Anderson! I'm an agent and investor in this area. I represent a builder that builds off market multiunits (4-plexes). I have a good grasp on the investment market in this area when it comes to investment properties such as single family and smaller multiunit. My wife and I own two 4-plexes (Vineyard and Eagle Mountain) and two duplexes. I'm always open to connecting with investors close by.
@Braden Anderson We should get an investor mastermind group going or something. I'm very interested in connecting and networking, early in the week works best for me. Let me know if you have a day or time that works and maybe we can throw something together in the next couple weeks.
@Chase Leavitt I'm interested in learning more about the Utah market specifically Orem/Provo and Ogden. I'm an out of state investor interested in duplexes and 4-plexes. Can I ask how your multifamily investments have gone so far?
Hi @Marco Parisi ! Thanks for reaching out. Most of what I've purchased is usually off market. Here's what I've purchased so far and when.
1. Vineyard, UT. 4-plex in 2015 for $600k
- It would resell for $865k
- $2k of monthly cash flow after ALL expenses (PM, Taxes, HOA, Insurance, etc.)
2. Vineyard, UT duplex in 2015 for $300k
- resold that unit before it was finished for $419k and rolled into a 4-plex.
3. Eagle Mountain, UT. 4-plex in 2017 for $650k
- It would resell for $845k
- $1,650 of monthly cash flow after ALL expenses (PM, Taxes, HOA, Insurance, etc.)
4. Herriman, UT. duplex in 2018 for $410k
- It would resell for $495k
- $375 of monthly cash flow after ALL expenses (PM, Taxes, HOA, Insurance, etc.)
5. Magna, UT. duplex 2019 for $410k
- It would resell for $490k
- Construction starts September 2019 and should be finished next year
In 2020 I'm hoping to get 1-2 more 4-plexes along with a couple more duplexes. I'm eyeing projects in Boise, ID, AZ and UT. I'm currently just in the smaller multiunit realm but at some point I'll venture into some larger apartment deals. I've kept things pretty simple with numbers and requirements that I look for when it come to what I make move on.
- Everything I have is newer. I'm open to older stuff but newer has been a big win for me. Less maintenance and headache. I don't have time nor do I want to spend extra money on repairs.
- At least a 6.5%+ cap rate
- Needs to cash flow after "ALL" expenses. Assuming 75% LTV
- Key indicators to look for: Population Growth, Low Vacancy, Landlord Friendliness, Rent vs Own Affordability, Annual income averages, Proximity to Economic Districts.
- Value add or some sort of equity play.
I hope this helps! Feel free to reach out to me directly with any further questions. I'm happy to chat or help in anyway.