All Forum Posts by: Victoria G.

Hey Kearston! I'm an investor and agent in Salt Lake City Utah and have had the same exact thoughts as you have. It's so expensive here, I've thought about moving states, and investing out of state to get more momentum. For now I've settled on the "live in flip" and "house hack" approach which seems to be the best way to get your foot in the door in an expensive market. My hope is to get the courage to be able to invest out of state in the near future. Good luck and let me know if you'd like to connect!

Hey Braden,

I have a duplex that I might be willing to sell. I'm also a licensed realtor and can help you search for a good deal if you don't already have an agent. I hope we can connect, and good luck with your investment journey!

It is incredibly hard to find a cash flowing deal these days in northern UT with home prices and interest rates being so high. I personally am using the "value add" strategy to get my rentals to cash flow. 

My first property I bought here was in horrible condition and a complete gut job. I found it on the MLS and bought it at a slightly discounted price. It's now completely renovated and cash flows roughly $100/month. But I had to spend time and money getting it there. My current project is a similar scenario - needs a lot of work (+ money for renovation), and I'm turning the basement into a separate unit in order to increase the monthly rental income. I'm estimating at most I'll cash flow about $250/month once complete.

A good option to get your foot in the door might be to house hack and rent by the room. There are quite a few houses here that have mother in law suites, or basements that would be easy to convert.

Kenny, congrats on the saving enough to buy a house hack at just 17 years old! That's an amazing accomplishment and you are way ahead of the game in focusing on your investment journey so early. I would say just make sure you have the income to be able to reliably pay your portion of the mortgage, be very conservative with your underwriting, and keep a few months in reserves. 

Keep us up to date on your decision! I love to hear about other investors in the Salt Lake area.

Where are you looking to build/buy? In Salt Lake and most of northern UT it's generally pretty expensive to build.

I appreciate the responses on this subject! The whole license thing is definitely not something I anticipated when I first moved to UT. I reached out the the city of Magna to see if it's a requirement there and I'll update the thread once I find out.

Hey there, I'm pretty new to UT and just purchased my first house in Magna, UT a couple months ago. My plan is to turn it into a long term rental once I'm done with the renovations. 

However, I recently stumbled across a couple articles online that stated any rental property located in Salt Lake City requires a business license to operate. I've tried to do my own research to decipher which cities have this requirement but haven't had much luck. I'm hoping someone has some knowledge on this topic on the forums. 

Is it true SLC requires landlords to hold a business license? Are there other cities in UT with this law, or is it unique to just Salt Lake City?

Thank you for those tips Justin!

Hi everyone! This is my first time posting on a forum EVER. I'm not usually very involved with social media or active online discussions, but I realize how huge networking is in real estate and want to meet some like minded people with a passion for real estate! I'm currently doing a live in flip in AZ and am looking to move to Utah once my house is finished. I would love to start making connections and learning from other investors in the Salt Lake/Provo/Logan and surrounding areas.