All Forum Posts by: Cj Powderhorn

Hi Bryan,

Did you end up using RS to sell?  I'm curious as well. It looks like they may have a discount on closing costs as well. I have an appointment to check it out next week.  Maybe we can get a few comments on here! Have a great weekend! Cj

I used to do that with my MIL as well -- initially I had it finished with a bathroom (has 2 bedrooms) and then a full (but small) kitchen I was able to rent it for $1200 per month.  Pretty interesting since I believe my entire house wouldn't rent for more than $3000! I think having a fenced yard and the fact that I don't have any dogs was very appealing to some of the renters I had here - and I had fun being an Aunty for the dogs!  I've looked around a bit here for a MF also. I do have some long term concerns about the air quality here - especially as I've heard predictions the Valley population will triple over the next 20(I think) years!  Do you think Lehi and Utah County are overbuilt on the commercial side?

Do y'all buy and hold or flip here in Utah?  I have been surprised by how inexpensive the rental market is compared to the sales market -even tho there are limited rentals. I live in East Sandy and it seems it would be tough even to pay a mortgage with the rental prices- looks like $600-$800K homes rent for about $3000.  Curious as to what you do here?  Thanks, Cj

@Bob Beach Hi, I use 3 different property managers based on the locations of my rentals. I am happy with all 3 of them and I live OOS. Feel free to connect and I can share them all with you, if you like?

@Sean Tagge I appreciate the info! When I get the ‘updates value’ reports from Zillow they look really great. When I get calls from wholesalers daily, the offers are really low. As I’m now out of state, everything has been buy and hold and solid CF. I’m sure if I tried to turn some to the retail market I would do well but that will probably be a lot of work! Since there are so many turnkey operators in MEM maybe someone should start a ‘turn your rental into retail’ company!  I’ve been buying investment properties from other investors lately and just by looking up the previous sale price, they aren’t making a lot. Of course these sellers are somewhat motivated (usually bc they are retiring, etc NOT bc they are in a true ‘have to sell’ position) and I don’t have their previous CF numbers. I love my set up in MEM and am now using a few syndications as a way to diversify.

Hi! I know some of you are calculator and spreadsheet gurus! Has anyone developed or have a comparison tool that they use for taking a set amount ($100K) and looking at the benefits of each. I assume I'd use a 5-7 year term. Right now I primarily invest in the Memphis area and have had great cash flow but not so much appreciation so I wouldn't factor that into the equation. Thanks very much for any suggestions or ideas. I saw some posts covering Syndications vs JV vs REITs and SF vs MF but I didn't see anyone asking this! Thanks! :)

@Arsen Atanasovski

Thanks! What kind of terms would you ask for in today’s market? It seems like it’s wide open as the seller is pretty anxious.

@Steve Morris

@Arsen Atanasovski

As realtors, how do you advise your buyers when the seller offers financing? How much does this change things as far as offer price, etc?  I am looking at a property that I can buy for cash but I'd rather save it for something else.  I know that the seller really wants to be done with it.  There is also about $20,000 in eventual repairs so I don't think it will appraise-the seller financing offer has made me take a second look.  Thanks for any thoughts...

@Joe S.

@Arthur Neves

I have SFRS in Memphis and have been very happy (11 years). I know a lender who will finance as low as $48K. My best cash flow is a property I bought for $34K and the rent is $700. I’m happy to share my experiences with you if you want to PM me. Good luck, Cj

@Joe S.

@Arthur Neves

I have SFRS in Memphis and have been very happy (11 years). I know a lender who will finance as low as $48K. My best cash flow is a property I bought for $34K and the rent is $700. I’m happy to share my experiences with you if you want to PM me. Good luck, Cj