All Forum Posts by: Jeremiah Maughan

*Raises hand to volunteer for the property management slot* Been managing in Provo for almost 18 years. We have 1,200 units under management, with about 400 or so in Provo.

@Tyler Jackson and @Nathan Allan you might want to put your brokerage name in your profile or your signature line.  We agents have to make sure that when we're soliciting for business (i.e. our messages here) that we disclose the brokerage or the Division of Real Estate might look at it sideways. They have kind of one click rule for listings which might apply for posts like these too.  Never hurts to be careful.

It's 2020 and we are BACK! Hope you all enjoyed the holidays.  As a reminder, we like to host monthly learn and share meetings for new and experienced real estate investors.  Anyone is invited who works in or has an interest in real estate investment.  As we start building our topics for the coming year, the first request we got was to take a look at the due diligence factors when looking at single family homes versus multifamily opportunities.  So that's what we'll be leading off with!

I'd actually recommend you avoid Provo itself.  There are better deals in the surrounding cities with less zoning issues.  The company I run manages 1,200 rental units from north Salt lake down to the south end of Utah County and out to Park City--everything from small condos to larger complexes--so we've been fortunate to see a good sample of returns.  Provo has the BYU premium, so the cap rates are much lower and there is intense demand for investment.  I prefer Pleasant Grove, Springville and a handful of other cities that still get good rental rates but stay under the radar so don't trade at such a premium.  The reason the above posters are upbeat on Provo is really more a reflection on the Wasatch Front in general.  The Wasatch Front is made up of several counties in and around Salt Lake and has seen incredible growth.  You can get the overall stability of Utah County with better deals if you make sure to expand beyond Provo.  The changes in the area are mind blowing: Utah's Last Ten Years

@Trent Stone we are actually going to take a couple months off, but plan to pickup again in January, but on the 8th due to the holiday.

@Janet Orgill this is much of the info you need: https://www.provo.org/provo311/licensing/rental-dwelling

But I'd recommend you be on the safe side and call the city directly.  The city almost never grants duplexes anymore.  You might have a shot at an accessory apartment though. While @Zachary Morrell is right that people violate the zoning all the time, the city is getting really aggressive.  You have to provide a zoning disclosure now as part of your leases, and failure to do so is grounds for a misdemeanor.  Here's some more info on that and recent nuisance updates to the code:  https://kutv.com/news/local/provo-cracks-down-on-crowded-rentals-causing-parking-problems

The city is also trying to educate tenants on the zoning laws.  If a tenant finds out you've rented to them without the proper licensing, zoning, etc, their lease is voidable and they can walk at any point.

• @Zack Stevens
• 10/02/19 06:00PM - 08:00PM
• Vision Real Estate offices
• 495 N University Ave #200 Provo, Utah
• Basement training room

As we've been going through these various topics we've seen a lot of questions come up about hard money, seller financing, and lease options as alternative methods of financing properties. They all come with benefits and pit falls, so we've lined up some guest speakers to talk about their experiences on both sides of those deals.  Looking forward to seeing you!

Super excited for this topic! "How to invest in real estate with little capital, some credit challenges, but a LOT of drive!"  We are very lucky to have as our guest speaker Matt Atkinson!  He runs a successful flip and rehab business in addition to his career as a loan officer and has served as president and board member of the Utah Valley and Salt Lake Real Estate Investor Associations.  This training comes from his education program and he has been generous enough to give us all a peak into it. https://www.mjarealconsulting.com/about-us/

Power is back on!

Welcome to Provo!  What brought you to town?