Salt Lake County Real Estate Investing Tips

[Sarah Caldwell]

Hello BP! My husband and I are new to real estate investing and without knowing what we were doing, just finished our first live and flip in Sandy, UT. Now we are looking to move into a home with a mother-in-law situation or a multi-plex this summer. Every deal we are looking at on the MLS doesn't even come close to meeting the 1% rule and prices continue to increase because of the influx of jobs and overall growth of the valley. So I have a couple of questions:

1.  What is the most successful way that you have found below market deals in the Salt Lake valley? Driving for dollars? Wholesaling? Direct mail marketing?

2.  Opinions on renting out properties? We’re finding it very hard to have cash flow since rents don’t seem to match the continual increase in property values.

3.  What are your general thoughts about the Salt Lake Market? Best methods for property investments?

Thanks!

[Ryan Mertens]

.5% here right now is a deal!

Salt lake county just passed an ADU clause that has some restrictions, but it sounds like with what you want to do might be right up your alley!!

Don't forget about your opportunity zones, which has several good aarea that I've personally flipped in.

easy math is, anything east of 700east from the aves to cottonwood heights and at least 2-3 bed 1.5 bath will rent for $1+ sq/ft up to about 1800sq ft.

So if you can buy a house and rent out a 1200sq ft basement it should go for $1200