Buying and flipping houses I’m Utah.

[Garrett Fronk]

Hello everyone, I have decided to do my first flip this summer. I live in Utah in cache county. I’m wondering if there is anyone else in this area, or close by, who has been successful flipping houses. I have heard from some people that the market just isn’t right for flipping and I want to get some more information. Also are there any strategies to acquire properties you could recommend? We are trying some direct mail to people who have faulted on their mortgages, and we are also looking into probate properties. Thanks in advance for the help!

[William Hochstedler]

Hi @Garrett Fronk

Welcome to BP!  The market in Cache Valley for acquiring properties at a discount has never been tougher.  I've been doing this almost 15 years and am focusing my deal finding energies both to the north (Idaho) and south (Ogden) because there just isn't enough activity here right now. 

Of course there are deals in every market, but the problem is that this market is already small and inventory is exceptionally low.  This means that end buyers are paying premiums for properties that they are fixing up so they have a place to live.  These buyers don't need to make a profit on their rehab and Cache Valley is DIY central.

If you are intent on finding something here, you need to work your network or get out and pound the pavement.  Also, look at more of the rural markets like Lewiston, even Cornish, and up into Idaho.  Montpelier is still Montpelier but there are some inexpensive entry points for a first timer.  

Basically, if you are intent on finding a deal here, my advice is do something that no one else is doing.  That means getting out there and talking to home owners rather than spending money and hoping they'll come to you.

Good luck!