New guy from the Salt Lake / Ogden, Utah area

[Bryce Jensen]

Hi BiggerPockets! My name is Bryce. I’m from the Salt Lake city/Ogden Utah area. I don’t really know anyone personally that invests in real estate. So, I’m wondering if someone would be willing to point me in the direction of some resources that would help. I think I’m mostly interested in rentals and how to get started. I want to learn what people do on a day-to-day basis to build their business. A little bit about what I know, I’m about 50 episodes into the BiggerPockets podcast, spent the last couple weeks exploring the BiggerPockets website, read about half of the UBG, and started reading Rich Dad, Poor Dad. I have questions about the Utah market. And would love to get to know someone from the area, but any and all help is welcome! Thanks so much! I’m looking forward to it!

[Eric Gardiner]

@Bryce Jensen Hi Bryce and welcome to BP. So rentals are super expensive in areas that you think would be and get less expensive from a price point viewpoint as you going out into the stick or rural areas more. I just toured a duplex in Salt lake that is just over 500k and while that is a huge price point the cap rate is still 6% which is ok in my book..

If you go to Ogden you can get cheaper price points but you are going to be in a rougher neighborhoods. 

You can also go to places like Brigham City and Tremonton for lower prices but rents are also lower. 

So you need to figure out how much cash do you have to put as a down. If you have 3.5% you could owner occupy a duplex. That is how I got started. Then fix it up as your go. 

I think you are on the right track in regards to learning. Just keep learning and analyze some deals so you can wrap your head around how much you need to put down to make the money that you want to make. 

Best of Luck.