Markets to invest in or around Salt Lake City

[Stuart Tollison]

Just recently relocated to Salt Lake City from Indianapolis for my job. I own three rental properties in Indy and will be looking to invest in Utah in the near future (within 1-2 years). I know the SLC/Utah market has blown up since COVID and may even be considered overpriced at the moment but just wanted to hop on here and see if anyone has any suggestions on areas that would make sense? Ideally I would want it to be within an hour of downtown Salt Lake and open to both long term and short term. Thanks in advance for any insight! 

[Corby Goade]

Quote from @Stuart Tollison:

Just recently relocated to Salt Lake City from Indianapolis for my job. I own three rental properties in Indy and will be looking to invest in Utah in the near future (within 1-2 years). I know the SLC/Utah market has blown up since COVID and may even be considered overpriced at the moment but just wanted to hop on here and see if anyone has any suggestions on areas that would make sense? Ideally I would want it to be within an hour of downtown Salt Lake and open to both long term and short term. Thanks in advance for any insight! 

 Congrats on your new carreer, that's awesome!

Everyone thinks their market "blew up" during covid and is overpriced. Slow and steady wins the race. I'm not encouraging you to overpay, but that is a great way to talk yourself out of taking action. Think of it this way- if you would have overpaid by 10% for a property in SLC in 2003 would you regret that today? If you did the same in 2019, would you regret that today? 

Taking reasonable action trumps scouring for a good deal, whatever that might be, 99% of the time. 

I invest in Boise, just up the road from you. People have been saying the same about our market, but there is plenty of opportunity here, especially now that the novices are scared away. 

House hack a small multi once per year for 5-10 years and you'll be financially free. Doesnt' even have to be a great deal, time is very forgiving in REI.

Best of luck!