Anyone else like Salt Lake City, Provo/Norem ?

Question

Pre covid, for various financial and personal reasons, SLC and Provo looked good even great to deploy capital into medium/large MF. Today, our analysis still points in that direction... mostly. Anyone else exploring SLC ? If so or not, I'd really love to know why. Also, do you recommend any brokers as we are looking for "off market" ?

Thanks BP !

Amy Kendall · Answer

@Max Pallatt I recently helped one of my buyer's find and close on a 56 unit property that we found for him using direct marketing in Provo.  I think the market still has a lot to offer depending on your strategy.  This particular property had a lot of potential to improve and reposition, which is exactly what they intend to do.  What size of property are you looking into?

Max Pallatt · Answer

Hi Amy... Apologies for the delayed response and thank you for answering... If the numbers add up, we are looking at 50+ doors.  Looking for value-add probably not for long hold.  Also, iso "boots on the ground" i.e. contractors, pm's and if you like any local lenders/banks, I am also interested.

Where are you exactly ?  What asset class do you specialize in ?

Thanks for your time Amy !

Tristan Young · Answer

@Max Pallatt Hey Max, Realtor here in SLC. Numbers are still looking pretty great on multi families. Single families are getting a little close to the profit margin in some areas. But still plenty of options.  Happy to help you find what you're looking for!