All Forum Posts by: Andy Jenkins

Sent you a DM

You'll need to check the laws in Magna, rather than SLC. 

Are you on KSL & Rentler.com?

Hey Nathaniel,

Congrats on the purchase! I live in Uptown too! Do you plan to owner occupy?

"...to my very untrained eye". This gives me cause for concern. Have you called the inspectors that carried out the previous reports? They may have additional information. When I represent Buyers, I'm always very suspicious of sellers that want you to waive the inspection. They may be hiding something. I'd say do an inspection or walk. Not worth buying a lemon.

I went through Stringham Schools to get my UT license. Online and in person options. I thought they were good. I did 100% online with The CE Shop for my MN license. Nowhere near as good as Stringham. Good luck!

I House hacked an old duplex in the Avenues for a couple of years (now it's a rental), and was a Salt Lake agent. The property you describe and the cost to purchase is nothing short of hideous. Walk away. If you want to get into investing in Salt Lake 1) reach out to an agent, I can recommend many. 2) got to the Salt Lake Real Estate Investors Association (SLREIA) meetings, (or Utah Real Estate Investors Association). They have lectures and lunches. Remember, when networking, the 80/20 rule applies. 20% of the investors do 80% of the business. Most of the people there are just like you- trying to start out, or maybe house hacking.

I'm really bullish on long term appreciation for the Salt Lake Valley. The valley is filling up, very little buildable land left, there are mountains on both sides, relatively high birth rate, and lots of people moving here for the diverse economy and proximity to the outdoors, all mean upwards pressure on prices. Even if a significant number of people leave because of the death dust from the drying lake (gotta keep the alfalfa farmers happy), there's still going to be more people than property for the foreseeable future. Just my opinion.

Sent you a DM.

Tim, if you've lived in a property as your primary residence for 2 of the previous 5 years, you can sell it without paying capital gains tax, Hence 2/5.

Michael, whether or not you sell is totally dependent on what you'd do with the money. As I'm sure you're aware, the SLC market is brutal for buyers right now, with very limited inventory and swarms of buyers for every property on the market. If your plan is to sell to buy more property, you probably won't find something that cash flows as well as your Kaysville place does. Personally I'd keep the house. That's from a Realtor who would love to see more inventory! If you're expecting a lot of cap ex (roof, furnace etc) to come up in the next couple of years, maybe sell in the spring when the market will probably go psycho again. Maybe. No, don't. Keep it. If you need the funds do a re-fi.