All Forum Posts by: Lincoln Selk

I would second what Jeremiah said. I would look at the markets south of Provo (Springville, Spanish Fork, all the way down to Payson). These are still developing cities and the growth is pretty amazing. Provo is older and the zoning is a headache. Orem is much easier to work with, just as an example. 

Overall, Utah County is growing like crazy with the tech startup scene as well as larger companies that continue to invest in talent here (Adobe, Microsoft, Oracle, Cisco, etc.). I think we'll continue to see strong appreciation here for buy and hold investments. 

Best of luck!

Amazing. Thanks, @Skyler Smith. 

Thanks, @Skyler Smith. Pulling equity from a long-term hold rental and keeping it on a 30-year note, so may not make sense on this particular project, but I'd be curious if you have anyone you like for a commercial loan. 

Thank you! 

Thanks, @Jenning Y. and @Chris Clasby. Yes, I would run the numbers for the project I'm working on to see the cost of any rate/closing cost trade-off. I'll see how Lane over at First Colony compares to the other traditional lenders I've received quotes from. 

My question was more along the lines of any lender particularly competitive on closing costs for the refi without taking a huge hit on the interest rate. 

I appreciate the help!

Perfect. Thanks, @Shaun Weekes

Hey All!

Has anyone found a lender who will do 80% on a cash-out refi? I'm finding 75% but need an 80% for the numbers to make sense on my next project. Also, I'm in Utah! 

Thanks in advance!

Looking for a lender that can do a no/low-cost cash-out refi on a rental. Throwing this out to the BP Community. Curious if anyone has found an ideal/competitive option for this? Thank you!

I'm in Utah, PS! 

Great stuff, @Justin Hendrickson! Sounds like you're in a great spot. The wife and I house hacked our way to our first few rentals and it's been a game-changer. I only wish I'd used an FHA loan to get into a tri or four-plex on one of our first ones. Very best of luck!

Good question/point and thread, @Hua Zhang! I skimmed so perhaps it's been said but I agree with the general consensus around how cashflow is tough in SLC and Utah County. The only caveat I would add is to consider market appreciation. The Wasatch Front is growing so quickly that depending on your risk tolerance and opinions on the next RE correction, owning in Utah as the market continues to appreciate isn't a bad wave to ride. 

If you're looking to make money today then perhaps this is less appealing, but if you're looking to buy, hold, and play the long-term game, then I think Utah can be a great place to be because the demand is so strong and it seems it will be moving forward. 

My two cents! Best of luck 

Very best of luck as you start out on the path, Di! Sounds like you've formalized a great plan of attack so you're prepared for 2020. 

Best!