All Forum Posts by: Jackson Pontsler

@Account Closed if you don't mind me asking can you point me to an example of your instagram ad.  Looking to do this in my own area and would love to see an example of a good ad for instagram.

Numbers are critical to give you that comfort.  You need to make sure that your first rental the rent covers: mortgage, insurance, percentage of repairs, percentage of vacancy, percentage of property manager (optional), taxes etc.   The BP calculators are good with that so use them!  I wish you the best of luck my friend.  When I see that I will still be making money if all these fields are met then I move forward.  

Other notes

You might be able to mortgage the house with less than 20% down payment lowering your HELOC.

There will be a point when you are paying for the mortgage on your rental its up to you to get it rented back out as quickly as possible.

Fear is always present in these high monetary investments.

Find a good agent or start marketing to find some good deals.

Reach out to other investors in SLC we are always willing to help make sure you don't make a mistake.

Cheers and best of luck!

As a flipper there is a bunch of things I use to crunch my numbers to see what offer works best for me.  This is basically.

Holding Cost

Selling Costs

Repair Costs

desired profit

Even if the repairs are just cosmetic if you are selling to a flipper and not a buy and hold investor there are additional costs that might affect other people.  Its all about know who your sellers are and who your buyers are.

Get the REPC then one of you two need to get to a title company.  There you can purchase title insurance.  As a flipper I've purchase and sold without an agent before but if its your first time it can feel a bit tricky.  If you get a good title company they will walk you through it.  Personally for me I like being in control of knowing how the process is going so I take the initiative and I drop it off at the title company I trust.

I’m looking at where to invest the profits of my flip buisness in Salt Lake City and would like to build up a rental portfolio.  I would invest here but I would need to drop 200k to get $150 in cash flow.  This has lead me to look into turnkey properties and the companies that provide the whole package for out of state investors.  Is there any recommendations as to which turnkey investment companies I should look into or any words of caution when it comes to these types of buisnesses?

I've been looking into investing in Real Estate out of State and am interested in learning about turnkey companies.  Has anyone have good or bad experiences with them? 

I'm a flipper in the SLC area but am looking to expand into the farmington and bountiful areas as well.  Due to the distance I can't make the meetings but is it possible to share my contact as a cash buyer for flip properties?

You might want to check this out https://www.biggerpockets.com/forums/517/topics/572541-3-bed-1-bath-home-fix-and-flip-or-buy-and-hold-ogden-utah?highlight_post=3457274&page=1#p3457274

Welcome Austin,  Its always good to see more Utahn investors.  To answer your question I have a few tips.

1.  Focus on what you want.  (this case rental portfolio)

2.  Define your market.  Are you looking for Odgen, Centerville, layton, Roy?  Be specific how many bed/bath? Is a fixer upper ok?

3.  Start looking at the market via realtor.com, zillow.com, etc get learning the numbers for your neighborhood i.e. how much rents go for.

4. If you are looking on the MLS find a good real estate agent (either another investor or someone who friends recommend). If you want off market deals find wholesalers or start marketing via direct mail to neighborhoods you would like to own rentals.

5.  Get financing in place.  This can be another post in itself but you need money to buy houses.

6.  Be patitient.  I see so many newbies just want a deal that they buy anything.  Take your time if you want reach out to me and I can verify it.  (I invest in salt lake and the suburbs to the south).

7. I want you to realize that currently on the MLS there is alot of competition which is why getting a good realtor or a steady stream of properties via marketing is important. If the deals were so easy that no work was required it is probably already taken by someone.

8.  Join your local REIAs I have a friend that is looking to start an investment group up in the layton area and can keep you posted if he starts if up seriously.

Thats my basics for getting started.  I wish you the best of luck Austin and wish you the best of luck in the Utah market.  

@Michael Quarles 

Thankyou for the input.  I also appreciate the examples you showed on your youtube channel.  I guess I'll stick to direct mail then and use facebook and youtube as supporters.  As was mentioned previously with the mail they have something hard to hold onto.