All Forum Posts by: Doug Quist

Good luck finding local real estate groups.

Every group that I've found appeared to be MUCH more interested in selling memberships than building community, but then again, maybe that is what all of them are like.  Maybe I'll start one after things have settled down more for my mom who I just moved into Assisted Living.

@Carl Davis, I'd love to get that info as well.  My PM, who manages 27 LTR doors for me is still attempting to sort out how we could try doing mid-terms with a part of my portfolio and I keep thinking I'll just buy a new property and give it a try with another management firm.

I'm in Sandy and have been investing along the Wasatch Front for a number of years, but haven't really bought a property since Nov 2021 when I purchased my last fourplex in Payson.  I have six fourplexes, one duplex and a single-family.  I am building two more fourplexes (Surprise, AZ) and Ogden,  UT and partnered with a buddy on another fourplex in Ogden.  This month I'll partner with my daughter on a Subject To deal in the SL Valley.

I've looked a several seller-financed properties both SF and small MF but the sellers are unrealistic about pricing and I have no interest in a negative carry.  On would have been negative by about $1k a month (SF) and the other negative by about $2k a month for a fourplex.  No thanks!

Sorry for the slow reply!

We ended up buying the house through the more traditional method of an owner occupied loan that is a JV with my daughter. We attempted to get the sellers to take more money and offered them two additional options one with an extra $35k, via Subject To, and the other with an extra $70k with both Subject To and a partial seller carry-back. Their agent, who was one of the worst agents I've ever encountered, probably doesn't understand how any of this works, probably talked them out of it.

Was originally listed for $525k and we bought it for $443k with a new roof and a fairly long list of stuff being fixed at their expense.  It was, IMHO, a shame both for us, but mostly for them because they REALLY appeared to be in a pretty serious financial and the extra money would have helped them.  Isn't an issue for us.

 Hi Chris,

Unfortunately a family situation has arisen and I'll miss the meeting.  I hope to join for the next one.

I haven't purchased a property in the greater SLC metro since Nov 2021 when I purchased a fouplex in Payson.  The other properties, I own, were purchased starting with a 1032 exchange in Fed/Mar 2020 and then throughout 2020 and 2021.

I am building six doors in Ogden, but that is taking FOREVER and there is some concern about if they will cash flow or just break even.  It will depend on interest rates.  Cash flow is VERY hard right now in this market.

Looking forward to meeting other local investors.

I'm also in the Salt Lake Metro area and happy to network.

I won't be able to make it to this event, but Laura McKee is excellent.  I've used her for a couple 1031 exchanges including my first one.  She was VERY patient and helpful walking this newbie through each one of them.  Thanks!

Best of luck with this!  Great plan / idea!

My daughter, in Vineyard near Orem (UT) has been house hacking her condo for almost 5 years and has driven her housing costs down to almost nothing.  Another daughter in St. George also plans to do this, but been too busy? to get roommates.

I've just finished, unfortunately, dealing with one of the worst turnover situations.  The tenant went to my same church congregation and never understood they were renting from my property managers and NOT from me nor my wife.  Sigh.