REI Out of Utah County, Utah

[Michael Christensen]

Hello BP community!  Glad to be part of this great group, and looking forward to meeting more of you.  I'll provide some details about myself:

Background:

I live in Utah, currently working full time at a tech company as a manager of a technical team.  Married with four children.  Love my job, and I love finance, real estate, and investment topics and I'm looking to take the next steps in all those areas.  

Real Estate:

We paid off our own home over this past summer 2019 (I know, probably could've invested that extra money, but we wanted to be out of debt), and I recently purchased a three plex in New Mexico as an investment/rental property that provides a good cash flow. We're currently rehabbing that property, and already have two of the units rented out while finishing the third. I'm hoping to go the BRRRR route and refinance the property after our rehab.

Future Plans:

I'd really like to get more involved in investment in my home state, as I'd be interested in being the owner/manager of properties close to where I live.  Problem is the Utah RE market is crazy, prices have gone through the roof over the last 4-5 years, and cash flow was pretty bleak as I was looking initially.  I'll probably continue investing out of state for now, unless good opportunities arise in my local market.  I'm hoping to connect with other investors locally to better understand my market and investigate local opportunity, but I'm open to opportunities anywhere in the country.

I look forward to learning from and contributing to the discussions here.  Feel free to reach out if you want to connect!

[Casey Christensen]

@Michael Christensen - Welcome to BP. That is awesome that you have done some out of state investing. I am sure that was an awesome learning experience. I completely hear what you are saying with investing in Utah. I live in Lehi and would love to invest in Utah and plan to when I find the right opportunity. I am also looking at the syndication model or partnering with people/JV to take down bigger deals. I have spent a lot of time on getting educated how to underwrite apartment deals, but still look at smaller MF as well. Good luck with your search and if I can be of value in any way let me know.