All Forum Posts by: Michael Cox

@Masyn Grant Barney I don’t do anything at this time in the short term or vacation rental markets so I’m not positive offhand of areas that allow for it.

Everything in St George is going fast right now. Inventory is way down, demand is way up, and there is a lot shortage right now. Not much help I know, just figure I’d let you know what is going on in our town.

@Matt Schreiber which Utah credit union was it?

Hey all, I purchased a new primary residence recently. I maxed out a confirming loan amount. I have my old primary residence for sale. I lived there over 2-years so it will be tax free gain. I sold my 3 Vegas rentals over the last couple of years (just in time too!). I currently have one rental, with a bank loan.

When I sell my old primary residence my plan is to pay off the rental bank loan. I will have enough cash to buy another property (or almost).

I have a couple different strategies I’m working through. These are not all of them but if you were going to do one of these 4 strategies which would you do and why?

Pay 100% for 1 rental

Pay 50% for 2 rentals (getting loans for balance)

Pay 33% for 3 rentals (getting loans for balance)

Pay 25% for 4 rentals (getting loans for balance)

Welcome to BP!

 The investors I work with have been selling their properties in Northern Utah and been taking it to Southern Utah, mainly St George Area. Some in Cedar City, which is probably better priced at this point, but I think St George will have better appreciation for the foreseeable future. I don't know Layton very well.

@Justin Morgan recently we have been doing new construction single family and townhomes. 

@Edward Lawrence thank you. I ended up joining this weekend and completed the ethics course last night. Looks like in my state (Utah) there are 73 members of which 36 are Pros. In my local market (St George) there are 4 (counting me) members of which 1 is a Pro. Since I completed the ethics class I believe that I will be a Pro, making 2 in my local market. 

We have been selling most of our northern Utah (Salt Lake area) investments and moving them into St George area. I think both areas are great areas to invest in.

if I was doing my first deal I would do something close to home so that I can better understand the process and learn from it. I'm afraid that I would not learn as much if it was long distance.