All Forum Posts by: Stefanie Jensen

@Reggie Withers

I think there are absolutely still deals to be found in Ogden. With single-family homes it’s not as easy, that’s for sure. But if you get a house with a mother-in-law apartment, or a legal duplex, you can get some good returns without having to put a ton of money in.

I invest here because I live here and I know the market, also I can manage my own properties which saves me quite a bit of money. I’ve heard of some killer deals in the Midwest, but you would have to really trust your management company. I guess I’m a control freak like that. The thing I do like about Utah is that we have constant growth. I know that the demand will always be greater than the supply in the neighborhoods I’m choosing.

@Kirk R.

I just hate debt! That said, I think everyone’s business model should determine whether they pay off properties or not. I would rather own 4 properties that are all paid off. That way I’m bringing in a ton of cash flow and my headaches and maintenance are rather low. I can manage a lower number of properties myself, without feeling like I have a full time job. Also, cash offers are a breeze. You can close so fast and you’re saving yourself a lot of the fees and hoop jumping that come along with a mortgage. Not to mention, sellers jump on cash offers first.

If you’re trying to build an empire, you would absolutely have to put the minimum down on every property. You’ll build much faster and the payoff could end up being really big, but you have to be willing to take on the risk and the job of owning a lot of mortgaged properties. With the whole coronavirus thing, I’m very happy with my current model. My renters continue to pay, but if they didn’t, I wouldn’t be in a bad situation.

Hi Ryan. I’m a realtor and in Ogden local. I’ve been on BiggerPockets for a while and my husband and I are investors here. I’d be happy to help you out anyway I can. Do you have any construction experience at all? If so, there are a few properties out there that have unfinished basements. If you can add another bedroom and bathroom to the small downtown homes, it is a real value add. It’s an easy way to up the rent on a small old home, or just turn around and sell it at a profit. I also manage my own rentals, there are some great resources that make it super easy to do so.

If you had a realtor assisting you in the purchase, that would have been a major thing that the realtor should have found out about the property. It's critical for the realtor to understand if you're purchasing a home as an owner occupant or as an investment. As an Ogden Utah investor myself, And realtor, I don't even look at a property unless I already confirm that it can be used as a rental. It astounds me how many listing agents have no idea if the property can be used as a rental. Almost every homeowners association has a cap. If a condo or townhouse development has too many being used as rentals, you generally will not be able to get an FHA loan for the purchase of one. That is the main reason that there is a cap, but attend one single homeowners association meeting as an investor, and you will find that owner occupants do not like investors. They assume the worst about you and assume that you have no interest in keeping your property well-maintained. It's that old slumlord mentality. People fear what they don't understand.

I'm an Ogden resident and a realtor. I know this area better than anyone. There are great areas to live and great areas to invest in. I can help you out with any questions you might have about the area. It really is a unique town and a wonderful place to call home. Message me for anything. Love to show you what Ogden has to offer.

Hey Caleb! I'm always on BP and wanting to learn everything I can about investing. I'm a real estate agent from Ogden and I'd be happy to help you buy or sell any of these flips at a discounted commission. I'm not the agent that's above putting in lots of offers. If you want to work with someone who understands the investor mentality,give me a call! I'd love to help you and your wife hit your goal. Stefanie Jensen

I own a building lot out right. Someone would like to buy it and begin building in the spring. This guy wants to hold the lot until spring so he can get a construction loan once all the snow has melted. He would like to buy the lot from me now with seller financing, then pay me off next spring with his construction loan.  I've never done seller financing before, and I'm not sure how to structure it. The lot is $165,000. What's a good down payment and what's a typical interest rate for this kind of thing? Any expert advice would be great.

Oh poor @Account Closed or whatever alias you'll be using in the next few hours. You really don't understand anything you've read on this forum. Go troll another post, or better yet another website. Get over me please.

@Account Closed  hold on honey???

Agree to disagree. Try it, it works enough to make it worthwhile.

we had a good long talk about the reasons I'm ready to get serious about REI. His parameters are very narrow, so we will have to start making lots of low ball offers and wait for a bite. The areas of town that he feels more secure with are a bit more expensive.

Good news here is that I'm very comfortable with making lots of offers and waiting for that seller who is willing to negotiate. I'm really seeing in my real estate career that people are almost afraid to make offers. I wish people would understand that  the offer is the only action that can START a negotiation. I see the offer as an early step, not the final step.