All Forum Posts by: Trino Martinez

@Nicole Shoaf
Like you, we live in the Santa Cruz area but have investment properties out of state near Salt Lake City. These were homes you we used to live in so the transition to managing them (lessons learned along the way aside) has been good for us. We spend far too little time looking for small multi-family deals in this area for the reasons you listed although we would look closely at an off-market (perhaps owner financed deal). We continue to look near our existing properties for new investment opportunities and to use the equity we've built up. Happy to share lessons learned from out of state managing/investing if you have specific questions. 

@Ben Syzek Welcome to the community. We have two properties in SLC area and manage from out of state. Feel free to reach out should you decide on Salt Lake as your target area. Having trusted resources in market have been helpful in managing our properties and contractors especially when my non-real estate related consulting business is in its busy season. I would also mention that once you have invested in Utah, I recommend the Utah Rental Housing Association as a resource. Best of luck. 

Hello Danielle. Did you ever build the ADU in Salt Lake City? With the evolving code from planning and city council I'd like to know if it made it easier for your project. I am beginning to research to do something similar in SLC. Thanks for your feedback.

Trino

Hello Santa Cruz County community. I am seeking a recommendation/referral for a property surveyor in Santa Cruz County. Thank you in advance for any contact information you can provide. 

 I appreciate the feedback from the community. One benefit of giving ample notices has been getting the notice reciprocated from a tenant of non-renewal of lease (90 days). They've been a great tenant for nearly 6 years but alas they've decided to buy a home. With 90 days notice, I've begun working on my punch list of updates to the unit prior to the turnover. 

I came across an article (link below) about a proposed bill (HB355) in Utah that did not make it out of committee that would include among other things a requirement for landlords to give 60-days notice for rent increases. As matter of practice, how much notice do landlords in the BP community give their tenants of a rent increase? I am of the belief that more time is better and allows better planning for both landlord and tenant. 

Utah senators kill compromise bill giving tenants more notice of rent increases

 My vote was to Hold as well. Best of luck!

 Simple and true!

Following the conversation. I have a similar rehab due on a SFH in Sugarhouse in a year or two (at lease end).

Hello Quinell, 

My wife and I have our former residences from when we were single that have been actively rented in SLC (Sugarhouse and 9th & 9th) since 2013 and 2016 respectively. We've done our own management from out of state. In terms of steps to rent, I used many of the resources on BP and discussed in the podcasts for listing, pre-qualifying/screening tenants, setting rent rates, creating the lease and property management software (apartments.com). Many lessons have been learned since the first tenant in 2013. After renting ourselves in two states (IL and NH) before settling in CA in 2017 and purchasing a home, we found that the best resource for seeing what we could afford was the mortgage broker. He helped us take into account our rental and personal income to pre-qualify us. I hope this is of help. Reach out if I can be of more assistance. All the best. 

Trino