salt lake are/no multi unit cash flow! True?

[Bradley Penrod]

I am ready ready to start in real estate. Cannot find a multi unit property that cash flows, none of them make sense here! People are paying stupid money for the multi units here. I’m thinking of buying, house hacking a residential house that has a basement; turning that basement into an apartment to do air bnb for ski season, renting upstairs to a permanent resident. We are 30 minutes from seriously the best ski resorts in the US  (and best powder)Any thoughts about this? 

[Emma Powell]

I do occasionally see deals on MF in Salt Lake/Utah counties and bought some, but the last one I found that I got excited about was over 100 units and had too big a capital raise for me to take on. Mostly I have been networking with other investors who have found large MF deals that have fallen through for some reason and seeing if I can solve the issue, and found some others from a wholesaler and networking online with people in Idaho. I found one 50-unit in SE Idaho we are closing on, and several others in SLC that were good deals, but for various reasons I was not able to get under contract (usually the capital raise, I struggle with that). Keep looking, but also be open to some other markets where you might find an easier entry.