All Forum Posts by: JB Cunningham

Hi All!  I'm in N. County but will be out of town for this one.  Actually traveling to work on a rental.  Where is the June SD location and date?

Also looking for a duplex in Ogden.  Had two under contract last summer with another BP member.  Both had foundational issues and I think the seller elected to hold on rather than repair.  

Now I'm back at it - looking for something around $200k with good rent ratios. I know it is slim pickings right now and I'll need to diversify my strategy outside the MLS.

To compound the difficulties, I'm out of state.  Any advice you all have is appreciated. 

Thanks,

Looking for Ogden UT area Duplex(s) for $100-$200k that cash flow w/ current rents.  Prequalified for $150k w/ a partner Prequalified for the same.   Please email with deal and details.  

Thank you

I tagged along with an investor friend to a local REIA meeting 2 weeks ago and had this exact converstation. I want to invest but have not even considered the local market in San Diego. He is invested out of state and locally in our expensive beach town. He said that the out of state, cash flow properties were easier to get into and made numbers right away, but the appreciation on rents for local investments quickly put some deals in the black and beyond. Meaning that he was speculating, not on equity but on rents.

If you have lived in a beach or mountain town I think you would agree this is not unfounded speculation.  The CA market is very cyclical but rents have steadily increased through all economic cycles.  Not a good move for a beginning investor like myself, but perhaps worthwhile for someone in the position.  And don't even get started on Prop 13... (the reason for the lack of inventory and grossly overpriced market;) 

@Dax Gurr  Thanks for the insight.   I think that real local knowledge and abilty to find your own off market deals is what you sacrifice being out of state.  Since I'm a rookie I may be too conservative to work with a wholesaler.  I think as @Joseph Hennis recommended property managers or listing agents through utahrealestate or ziprealty etc.  may be best.  

@Charles Doehler understood that the market has diminishing inventory.  Maybe I'll just get good at writing offers 

Hello all - 

I'm ready to move on from the paralysis by analysis stage.  Looking for a good Real Estate Agent in Ogden area to find a good duplex or triplex.  Please PM if you have a suggestion. 

I'm in CA and would like to make a weekend trip to the area,  meet with 3 agents,  see 9 places and make a decision on the agent / property.  

 - Do you think this is too much to ask an agent, giving up a weekend, 3 properties with a 33% chance?

 - Any suggestions on what is important in an agent for an out of state investor?  I'm looking to establish a relationship and do more deals in the coming years.  Connections with contractors and property managers is important.

#Ogden

Hola - 

I'm in N. County.  Transplanted from UT 10 years ago.   I agree with @Fabio Salas, seems like not much here for BRRR or buy and hold. Prices are too high, rents are high, but not high enough. I'm looking to invest back in UT - my goal is to have 5 cashflow properties, to buy one primary residence here.

I love San Diego, but would rather invest in a more realistic and stable market.  - How about Phoenix? drive-able on a weekend.

Victor, 

Just to chime in, you sound highly ambitious and that is a great thing.  Seems like the consensus on here is that becoming a loan originator is not worth the time and energy for an investor.  Why not begin by becoming a licensed agent?  I'm doing that now before getting my feet wet in investment and I have learned a lot just taking the state mandated 9 credit hours at the local community college.  

Seems like all of the comments on here were geared toward Victor as a potential loan officer trying to do his own mortgage.  What do you guys think of becoming an agent for these purposes?

Sophie, 

I'm looking for the same investment opportunity in Ogden.  I live in San Diego and find the cash flow potential in UT attractive.  I have a few friends from SLC that own properties in Ogden and it is steady buy and hold opportunity with relatively low appreciation.  It sounds like the inventory in North Ogden is low, but I am still in the research / qualification phase, looking to make a move this fall.  

I'd be interested to see what you find.  

I am new on here too and going to just tag along your thread.  I just found the BP podcast and blog and really have no real estate knowledge or holdings.  Love living in San Diego but want to live near the coast and realize that you need to have some hefty ambition to make that a sustainable reality.  It's ok - I love a challenge.  

My first question is where and when should I get some formal real estate education.  I am a busy professional and have looked into the night program at Mira Costa College.  This would be in the fall and hopefully lead to a license.  Are there any seminars or classes I could attend this summer?  

My next question is can I start investing when my primary is a rental itself?  I like living by the beach and currently live in a $2M house with some friends and gf.  (I'll admit I have champagne taste on a beer budget)  It is quite affordable and when I look at primary's I get downright depressed.  One thought I have is to buy something affordable in a promising neighborhood and have some younger roommates rent. When I am ready to move up and on in 1-2 years just replace my portion with another renter.  Thoughts?