All Forum Posts by: Michael Wachel

Is Page, AZ over saturated for STR? We love Lake Powell so it seems like a natural place to look.

Thoughts?

@Colleen F. That makes a lot of sense. Thanks for taking the time to explain.

Quote from @Colleen F.:

@Michael Wachel while my tenants paid through covid I decides to gp to month to month leases for all new tenants.

So on a month to month, you can choose not to renew anytime? Is it worth it?

That's because you're in the wrong state. Or, you voted for the wrong peope ;-)

I'm in Arizona and we just ignored it. In fact, I did have to evict from one property during covid and the tenant tied to use the "covid defense" and the judge ignored it, evicted and awarded me a judgment. It was fast too, no delays.

Well, I'm in Utah but looking around and potential properties elsewhere. I am trying to learn all of this and it's overwhelming at times.

I am just curious how people dealt with it. I can't believe the government just decided to kill the economy the way they did and the people didn't have a say. Especially looking back.

Since I am just getting started I have a question about how you all handled the COVID eviction moratorium? It is kind of scary that the government can just allow people to stop paying rent and landlords have no recourse.

@Corby Goade Thank you! I have a lot to learn but I am excited about the journey!

@Logan M. Thanks for the advice. I am learning so much literally by the minute as I continue my research. We have family in around Lehi and just feel comfortable with the area so that is why we gravitated there. But the more I think about it, what you say makes lots of sense.

@Jaron Walling You make some good points. I need to so more research and really think about what our first step should be. Thank you!

Quote from @Jamiel Strickland:

@Anissa Allen I would recommend Detroit. Since you are open to areas like Toledo and Cleveland, I would then take a look at Detroit or Metro Detroit. As you research know this is not an easy market to invest in but if you have a great team, trusted party to talk things out, and willing to learn. You can do well here. 

@Jamiel Strickland, Why is Detroit not easy to invest in? I'm new to all this and just curious.

Thanks, @Nolan Chandler.

I figure house hacking should work for us even though we are just hitting our 50s with a teen. We will have a base camp and still be able to travel in our RV for a month or two at a time. My wife is able to work remotely and I am retired USAF so I have time to learn.

Also, thank you for your service!

Hello all! First post and I am just learning. This is such a different world!
Our quick history...
Sold our house in 2022 and paid all of our debt to travel in our RV. We purchased a new RV in May and owe $55k on it but that is all the debt we currently have. I am eligible for a VA loan and exempt from the funding fee.
We are going to look into buying a multi-family unit near BYU in Provo, UT to start or possibly elsewhere around SLC if our Realtor finds something. We would live in one unit but would still travel for months at a time in our RV. We have found a Realtor that is also an investor with 50+ doors and she seems eager to help and guide us. I have also been reading guides and watching videos as much as possible.

Any advice? I feel like we are in a good position to try this out. Thoughts?