All Forum Posts by: Jackson Pontsler

Warning long response coming

First of all thank you @Mitch Messer, @Ernesto Hernandez, @Lane Kawaoka, @John P, @William Hochstedler and @Lee Ripma. I appreciate such a strong response.

For Logan there is no low hanging fruit (but I guess that is true of very many places). I understand that deals need to be made and not easily found, I would implement that same strategies from long distance real estate investing if I was buying properties in Logan, UT because an overall 4 hour commute isn't a good buisness model if you're going to DIY landlording. With that in mind I was looking for different markets (lower entry price points) and I have friends who have pointed me to a few cities and evern turn key companies who's ROI and rent/purchase price ratios are better than what I can typically find in Utah. i.e. in Midvale UT a duplex will sell for 350K but rent 1200 each side while a turn key in the MidWest advertises (mind you still doing homework on a couple of them) house in Tennese and Missouri for 70k is and rents around 725.

As for Utah rentals I'm actively polling the odgen/layton areas and even considering purchasing some land south of Eagle mountain 8 mins away from the active construciton of new homes in that area.  

Overall I'm just trying to set some criteria to determine which cities I really want to dig deeper into and establish those realtionships.  To be able to build up the core 4 and relationships wiht good real estate investors together.  This is similar to my local flipping relationship building strategies where I actively take other investors out to lunch, learn from them, pick their brains, and even get some deals from them.  

My weakness is I tend to throw my net too wide which is why I ask how do I narrow down out of state investing.  Thanks to you guys the advice I read is: look where you already have ties, does it have a robust economy, is it near another city with robust economy, and look in those cities for good wholesalers.  This is a great list of criteria and once again I appreciate anyone elses insights or a point that I missed.

not so much for Utah if your looking for the 1% rule. Still some decent rentals and my wife have one in a Salt Lake Suburb but the California crowd has been moving here for the last few years and any duplexes on the MLS become bidding war stomping grounds.

Since it looks like beuracracy isn't working (they accepted everything to be find) then you might need to use your home insurance if you have it.

It all starts with finding more deals.  Once you have a deal you can play around with financing strategies.  For example if you find a motivated seller you can joint venture with a person to bring in the money and split the proceeds.  You can look to see if the seller is willing to carry the note (seller financing) or you can always wholesale it to make a quick buck.  It all starts with finding a deal that makes sense and marketing it to people looking for that deal.

I read the "Long Distance Real Estate Investing" and will be completing my first flip in 2 months.  With the profits I would want to reinvest in a rental in a more affordable market and all my research has lead me to the MidWest to South East.  The research has included the buy to rent ratios on zillow and has given me some cities to look into.  What more would you do to determine which market you would want to focus on to build your core 4 (lender, realtor, property manager, general contractor)?

Honestly speaking the only place that looks close to the 1 percent rule when listed on MLS is a quadplex in West Valley. Currently in Utah its best to look for off Market deals cause on the MLS it doesn't make sense.

Welcome to the group Will.  It is imperative because of how hot some areas of Utah are to get your financials in order.  Some realtors will demand proof of funds upon submission of your offer.  In some areas there can be a bidding war, and in other it would be to waive financial and inspection contigency.  Depending on your skill and confidence level act accordingly.  For me (I hire out GC to do flips) its more like fishing for when something on or off market comes my way where I can see the hidden value i can add.

Hey Kyle,  

Deals are out there but you need to be extremely proactive.  It will be hard to find a single family property that meets the 1 percent rule so i recommend looking into multifamily to meet both the 200 unit goal and the 1 percent rule.

Hello everyone first time posting here.  My wife and I are wanted to build on a very sizeable lot on the side of our house.  When I talked to the city of Midvale there a quick mention that the fire marshal needs to approve and get the firetruck down a private road.  When I checked with our neighbors it was mentioned that previous owners couldn't build it because the fire marshal disapproved.  I've look around the neighborhood and found duplexes that can only be found through a narrower private road than us and no place for the truck to turn around.  Basically any advice for my meeting with the fire marshal and hopefully get his ok for me to build on my side lot. 

P.S.  I know why the fire marshal has his opinions and I respect that (because that way everyone is safe)