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Updated over 4 years ago,
Do BRRR deals work in the Utah market?
My wife and I are exploring options to begin seriously investing in real estate. We are reading Brandon Turner's book "the Book on Rental Property Investing." We like the concept of starting with a couple of BRRR's per year. We're targeting a 5% to 10% cash-on-cash return. The numbers only pencil if you're able to purchase at 70% of ARV (or less). Relative to the mid-west pricing Brandon describes in the book, Utah is a hot market with high demand for housing. Prices are high. I've looked into a few wholesale deals in the past and they all get dozens of offers within hours of listing.
Does anyone have advice for how to find great deals in Utah? Is BRRR a viable strategy here or should we pivot?
Thanks in advance!