Ogden utah or salt lake city?

[Jeremy Robinson]

I am new to Utah, and unfamiliar with the market here, I just moved here from Austin Texas where I tried to buy several houses, but the market was just too quick for me there, every house o put an offer in on went for 15+ k over asking. This market seems to be better for someone that can't make cash offers, but I have no idea where to look, been trying to look up comps and find deals but I'm not sure where the trends are heading in certain areas. I was hoping to use my VA for my first deal. I currently live in ogden and last year had an income of 80k, with nothing to show for it but rent payments. Is there anyone in the area willing to help out a newbie?

[Drew Clements]

Hi @Jeremy Robinson,

Welcome to BP! Since you're looking to use a VA loan, I assume that what you're looking for is a "house hacking" opportunity on a small multi (duplex to 4-plex) where you can live in one unit and rent the rest out.

You're still going to have to find a deal so that you can cash flow and multifamily is a market with less inventory than single family (obviously)... so it may take some time. Be patient and get your financing ducks in a row so that when you do come across a deal, you can jump on it.

To find that deal, you'll find lots of techniques detailed out here on BP. Here are some that I'd recommend: Go to all the area investor meetups - There's the SLREIA, NUREIA, UVREIA, etc. meetings... and searching around online you'll probably find more. Deals are often brought to these meetings. You can also get on buyers lists for Wholesalers, just specify what you want and know your numbers before you sign anything :) You should also call all of the "For Rent" signs and classifieds you see in yards, KSL and Craigslist. Just say that you're interested in buying the place and ask if they're interested in selling.

Anyway, take some action and don't give up. Good luck!