All Forum Posts by: Josh Green

@Don Johnson

I would look for multifamily properties in areas that are less competitive, but still have good job and population growth.  My two main markets are Ogden and Cedar City.  I like multifamily because I think it is one of the safest assets to own and is generally not hit as hard in a recession.  Having more units helps mitigate vacancy losses and are generally more efficient to operate.  There are a lot of small things you can do to increase value.  We bought two value- add apartment projects in Ogden earlier this year (10 units and 8 units) and have already added a lot of value (and cash flow) by doing relatively easy things (replacing laundry machines, better management, charging back utilities, etc.)

I'd generally stay away from areas that are heavily dependent on one industry (Vernal, Price, etc) as rents and occupancy are more volatile.

With $275,000, you could probably find a good 4-plex.

Other than multifamily, industrial is also something I'd look at.  Can be more impacted by a recession, but still pretty safe.

@Abhi Ram

How many units? Are they all in one property or spread out?

I have worked with a lot of management companies and gave give you some recommendations with a little more information.

@Matt Todd

I just sent you a connection request. Send me a message and I will give you my phone number and email.

Matt,

Your best bet is going to be to sourcing deals yourself.  I've had good success finding small development projects similar to what you described by understanding the zoning and then targeting property owners in those zones.  Build a list and then knock doors, make phone calls, send letters, etc.  I have three deals currently that will be developed with between 4 and 15 units each that I have found this way.

Happy to talk more about what has worked for me.  Sounds like you have the construction side down, but if you need any help with architecture or entitlements, my partners and I can help.

@Meagan Martinez

I'm interested.

I'd be happy to connect.

There is also the Salt Lake REIA and Utah REIA that have regular meetings and events.

@David Li

Would love to connect, send me a DM.

@Hayden Boehlefeld

What's your strategy? Hold it long term or sell at stabilization after rehab?

@Chris Hornbeak I'm a little late to this thread... We bought a house in Millcreek last year and are working on finishing up a basement AirBnB. It's not finished yet (so close) and we haven't been approved by the city, but it looks like a pretty straightforward approval process. They really just want to be sure that you have enough fire exits.

@Matt Banks Sounds like a great idea. We are looking at a property in Utah County that we want to do the same thing with. I know a great civil engineer that could help you with this. Let me know if you want his info.