Multifamily investing in Utah

[Spencer Keables]

So I have been been reading a lot about investing in real estate and I'm  trying to educate myself as much as possible before I purchase my first property! I am really hoping that within the next year I can purchase a smaller multifamily unit. I was thinking either a duplex, triplex or a fourplex. I really like the idea of house hacking, I'm pretty sure thats what they call it; living in one unit and renting out the others. 

Anyway I have been looking on the MLS and it seem that nothing in and around the Provo/American Fork area meets the 1% rule. Is it possible to find a property that will meet this general rule? On one of the podcast I remember either Josh or Brandon saying that they won't purchase anything below the 1% rule. I wonder if I should have the same mindset with investing in Utah or are there exceptions to these rules when it comes to investing in certain parkers!

Im reading "The ABC's of Real Estate Investing" by Ken McElroy and he talks about cold calling owners and looking for properties if the MLS doesn't have what your looking for. Would that be a way of finding a property that meets the 1% rule in markets like Utah? Any advice would be greatly appreciated? Thanks!

[Brian H.]

You're from Rexburg. Have you considered investing closer to home? Utah is very hot right now with SE Idaho lagging behind. Might be worth looking into Rexburg/Idaho Falls areas for your first deal.