All Forum Posts by: Nik Krohn

Hey all. I want to see if I can get a pulse on what you guys think about the market right now in Utah. Everyone says 'we are at a peak in the market' & 'there are few deals to be had'.

I am able to purchase 2-3 homes. Ideally I would like to buy in Saratoga Springs where I live. The intention of the investment properties is to hold for appreciation over the next 10 years as well as some cashflow.

I don't like the idea of waiting for the market to dip but I don't want to pay a premium. Here are some of my questions:

• Should I hesitate to purchase now? 
• What things should I look for in a deal in this current market? 
• Saratoga is going to boom over the next decade. Should I get in now?
  

I am not a first time investor. But the last few years I have purchased out of state and now I am planning on coming back to Utah for investing. 

I am interested in building my team in St Louis. I am looking for a Realtor in that area that currently invests there inside STL or in the suburbs. 

I am also interested in speaking with a couple property management companies. 

Please PM me so we can connect and schedule a time to talk. I am interested in purchasing a couple properties out there (SFH or MF properties)

One of my properties in Provo went up 12% and Saratoga Springs 10%. 20% is much higher than I am experiencing but it could be your local zip codes. Agree with @William Hochstedler about getting an appraisal if you are serious about the appeal

@Chris Seveney thanks for the reply! I like what you are saying about the BRRR strategy. I personally do not like to do the renovations especially on out of state investments so in this case it would probably be better to finance immediately.

I was listening to the BP podcast show 53 and Josh mentions purchasing cash and then doing a refi on your properties. 

Is it a better strategy to purchase a property all cash then to do a refi OR to try to purchase the property with a conventional loan out the gate?

What are the PROS & CONS of each strategy?

Thanks for weighing in on the topic!

Great flip!

@Mahonri Bussey, While I like the idea of someone doing the legwork to make it turnkey, I and many investors I know don't like to buy out of state turnkeys because the "Flipper" beefs up the purchase price by at least $20-30k after costs. The COC returns are less good when you buy from turnkey providers. Just my 2 cents

@Vaden Hoffman, @Skyler Smith is a rockin realtor out there who helps investors. Might be worth connecting with him

@Avi Garg Did you have any repairs to do on this property? Is your cashflow number ($330) the number after CapEx, vacancies etc? I assume it is.

Did you purchase cash?

Thanks! I am actively looking in Cleveland right now but have considered St Louis

Is @Travis beehler a realtor for that area?

get your quotes. If it is going to be in the 50-70k range then maybe you can negotiate down even more. Remember to value your time as well in the deal. It's going to take a long time to fix things as well