All Forum Posts by: Ray Loveless

thanks Kristen.  Just curious.. is there any specific reason why you are choosing to rent single family home over small multifamily buildings. Better renters? Any other reasons? 

-Ray

Utah County has been great for me. You may not cash flow the first two or so years but after that it's all in the green cuz rents are going up as well. I bought a 4-Plex 5 years ago. It has appreciated an average of $3,500 a month for the Last 5 Years. Now it is cash flowing great. I would put that up against any investment in Ohio.. wink wink 😉 

@River Luce for me the cash cow if utah is Tooele.  Where else can you get a property at the midwest price and have the appreciation of Utah (I believe that county was the one of the highest if not the highest appreciating county in the state last year). I'd be interested in other's thoughts on this.
  My Brother, @David K. Loveless, a cpa in the area was able to get into a owner occupied rental(if you live in it for a certain number of years) with a government grant but I don't have all the details.  You'll have to reach out to him.  Good luck.

I own rentals there as well and could provide anything you're thinking about purchasing.  There are many student houses that get packed with students that may throw your numbers off... Unless you're interested in renting a house full of students.  @Race Ostler  would be a good resource to connect with.

@Tyler Bond,  Good question. I was just planning on printing and using the regular agent REPC. I'm not an agent either. I think that's the general best practice but I'd like to hear otherwise if I'm wrong.

@James Wise, Thanks. Yeah dropping off a check to the seller didn't make sense!

Thank you. He wouldn't budge on the 50% so I dropped him.  Some of his true colors came out after that so it was a good vetting process for me.  :)

@John Teachout, I updated the post with some additional details.  I still need to call his son but got the impression that he just helps his dad out on flips and doesn't have any official tax documents.  I think he would be perfect because I could pay him haul trash out of the place and do any miscellaneous work I need done for this.(

I'm doing a small flip on a house 2 hours away in Utah. A fellow BP member gave me a referral of another flipper in the area. I called him about contractor suggestions and he mentioned that his son does painting and other handy man work.  This is just what I need! He wants half down for the paint work($2100).  He said he accepts Cash and Venmo only(no credit cards). What would be the best way to cover my self here?  I think a lot of people would just pay the money but I would like at lease enough information I can go after him if he walks away with my money. I don't have time in my busy day to drive down there and have him sign something.  I'd prefer to pay venmo but haven't had experience paying a contractor this way. Any suggestions? thanks. -Ray

So I just purchased a Townhouse in Tooele, utah to be flipped(Closing early jan 2020).  It should be a quick flip(2-weeks hopefully)  I'm looking for an ambitious new investor that would be willing to be the boots on the ground for me....take pictures of contractor work, Add a keybox, Possibly take a small trip to the dump, etc.  I'd be willing to pay them and walk them step by step through this deal.  Tooele is a little far for me to be driving.  Also contact info of a good handyman in the area would also be appreciated if anyone knows one.  

Thanks Much. -Ray