All Forum Posts by: David Avery

My rule of thumb,  don't compete with a new build if you can here hammers!

Ditto , building cost both labor and material has almost doubled in the past 6

months due to the Phoenix valley being in so much demand.

Dirt here in any area that people want to live is expensive.

Have you considered building like a cottage set up with 6 to 8 doors with an

inner court, U shape set up ?  

Do 2,1.  Rent $1400, or sale them if you really need the money for $189.000.

Each,  maybe the math will work better now!!!

There are pockets in  downtown that will allow this.

Maybe get a grant of two working for you!

No one is doing these here and I have the plans!!!!

Rent to "skinny jeans" all day long.

Take advantage of Covid, no one wants to have people living on top of them.

Build 3-4 Duplexes on  one lot!

Food for thought!

Brandon, One more thought, There are a few foreclosure properties on the MLS. Sometimes they can be picked up for a fairly good price. Most of them need a face lift, updated bathrooms, kitchen, painting, yard, curb appeal, new lights and fixtures, etc, I can line you up with the perfect person to get it ready for you. You may need $10-15 K to re had, but may make $40,000 after it done to sale or rent for $500 more then your payments.

Get 2-4 very good agents looking, working for you guys.  

This is the ticket to success, have the experts in their field work for you!!

Ogden, West Valley, West Haven  , one of my best deals was their.

Kearns, Clearfield, Roy,  since you live in Davis County, all if these areas are close

to you.

Just stole a building in Ogden with great terms and my business partner landed the state of Utah to lease up about 1/7th of the building.

It was a golden lease.   You can't go to wrong with a lease from the government!!

Did just that on the Kiesel Building in Ogden , Utah.

Paid $585,000 for 80,000 square feet.

Rented one level to State of Utah for five  

Years at $255,000.💰💰💰

Had 5 levels!!

Commercial!

During Covid , rents are low!

Buildings vacant everywhere.

Of you can do this one trick!!

Get a 5 year tenant to commit.  Statrvir Federal lease.

It’s like GOLD 

💰💰💰

Then go buy the commercial office space for them.

That 5 year commitment should pay 1/3 of your building.

Hi Loran, we welcome you .

First get a great Real Estate agent , Full time and have them go to work for you.  Keep saving this area is not cheap, but the economy is HOT!!!!

Then you may want to plan a trip with several properties lined up-  The sad note is they go fast!!

When a property is available you need to be able to preform quickly!!

Best Luck,

Dave   ROC 331866                       General Contractor                      davidaveryconstruction.com

P.S.   Roc 331866

davidaveryconstruction.com 

If you need a great GC!

Prices here are pretty high, But some pockets go up $30,000 in three months.  

First get a good RE agent or two.  Make sure they are full time and very active.

Second consider fix up properties because the demand for them is second to

Move in ready, no one here wants to do any work to move in,  they just want to 

move.

I would still consider pockets of Mesa, San Tan Valley,  Or Apache Junction.

A good agent can direct you to all of these, Wholesalers have way to many clients

to give you any meat on the bone!!! The economy here is so hot that every one is moving here!

Best

Dave

I'm old school and have always kept an eye on my properties  ( within a hours drive).  I just think it makes you sleep better when you can physically see your properties.  Even though Pueblo Colorado was very good to me in 40 months.!!!!

Partners can be difficult.  Make sure none of your friends, family, associates what to take advantage of your hard work,  Of course money help, money backing, etc, sometimes you partner to get most of the profits then nothing at all.  Utah has difficulty in partnerships, But Colorado and Arizona is more common.  But be so careful because they can file a lien,  which is a nightmare to resolve sometimes!!!  Or they can do so many other things if they have an addition or going through a divorce, etc.

I would move forward and buy as much as you can, Ogden, West Valley, Kearns,  My son just did a Flip for his in laws in West valley.  They put up $225,000 and said all we want i $10.000 More, My son and wife did the house and my son and wife made over $40,000, gave them the $10,000.  WIN WIN

I later told my son, your in laws were the same as a hard money lender!!!!

He laughed and said , but I trust my in laws more!!!!

If you can find good deals, that is when you make your profits!!!

Good luck and yes I got this Forum going for you guys!!!

No votes?

Dave

Logan, yea its hard to not take that $$$ and do a few more deals.  In Ogden we did 4 plexes.  My business partner would buy and sell them.

I would run the crew and make the properties shine!!!!

We would sell them to Salt Lake investors, all day long for $150,000-$160,000

We would also carry the down payment on a note and kick BUtttt!!!!

So at the end of a project/deal.   we would split $55-65K.  Pay for my crew and material and I would float my labor till the sell!

P.S.  my partner ( business) got a bad addition called Cocaine!!!!!

live and learn.

Just life!!!!