Rental Property Investor · Salt Lake City, UT · Member since 2020 · 2 posts · 1 vote
First off, Happy Mother's Day to everyone's mom and current mom's. I am looking to learn and make a venture into single-family houses tell I can build a beautiful portfolio to jump into multifamily projects. I now live in Salt Lake City, Utah, but born in South Central, California, so any ideas or investors or have useful information I would love to know and see how I can be any value into your success as well.
Flipper/Rehabber · Lehi, UT · Member since 2016 · 86 posts · 64 votes
6y
@Robert Johnson wish you the best in your real estate journey. Salt lake is a strong market with a lot of appreciation over the recent years. There is quite a bit of competition for deals, but it’s probably the same as any metropolitan area.
I think a good first step is to go to some of the REIAs to network with other investors and find out what’s working, what areas are better than others, etc. You can also find wholesaler lists to get on, hard money lenders, and title companies that people are using. If you need any referrals for these let me know. I’m a wholesaler and flipper in Utah so feel free to pm me if you have any questions. Always happy to help.
Flipper/Rehabber · Lehi, UT · Member since 2016 · 86 posts · 64 votes
6y
@Robert Johnson wish you the best in your real estate journey. Salt lake is a strong market with a lot of appreciation over the recent years. There is quite a bit of competition for deals, but it’s probably the same as any metropolitan area.
I think a good first step is to go to some of the REIAs to network with other investors and find out what’s working, what areas are better than others, etc. You can also find wholesaler lists to get on, hard money lenders, and title companies that people are using. If you need any referrals for these let me know. I’m a wholesaler and flipper in Utah so feel free to pm me if you have any questions. Always happy to help.
@Robert Johnson Welcome back home to Salt Lake City. You probably know Salt lake pretty well-playing football up there! Are you looking to invest more in rentals for college students renting by room? Or to families? I would get on as many wholesaler's email lists as you can. Also, connect with an investor-friendly Agent that will send over deals so you can start seeing the market and analyzing properties that work for your niche. Join some Facebook groups in your area as well. I love the mindset and glad to see you on BP. Great advice from @Kyle Pierce
Bigger Pockets is a great place to learn from the best!
Real Estate Broker · Lehi, UT · Member since 2016 · 397 posts · 318 votes
6y
Great advice from @Kyle Pierce and @Nathan Sampson. The BRRRR strategy would be a good possibility if you can get a good deal. Getting on a few wholesaler's lists is a good place to start seeing those deals and opportunities. Unfortunately, in our current market, traditional buy and holds are still not seeing significant cash flow without a large down payment.