All Forum Posts by: Amy Kendall

I have an investor looking for single family or multifamily deals in Utah and Salt Lake Counties.  Ideally looking for seller financing if the property needs rehab, but if it is in great condition and will go regular financing, they could put the 25% down.  Ideally looking for deals under 250K for SF,  $400 Multi. PM if you have anything interesting!

Amy Kendall

You would have to structure it differently for sure.  But if you don't have the capital just study the Utah rules. 

The licensing requirement does not apply to an owner who manages his or her own property, an employee for one property owner, apartment managers who reside in the apartments at reduced rent, full-time salaried employees of a Homeowners Association, hotel or motel management, or management activities associated with rental accommodations for a period of less than 30 consecutive days.

So If you structure it so that you are the on-site manager (his employee), at a reduced rent or something of that nature I believe you would be okay.  It sounds like you don't have the capital right now to get into it, but maybe if you have the reduced rate on rent while learning the skills as his employee, you could gain some knowledge about what it takes to manage properties, and save some money for your own deal. 

http://realestate.utah.gov/realestate/propertymanagement.html

I have found Some great single family investments over the years here in Utah (I have 2 with CAP rates over 10% and one with CAP rate 7.5%), I know the deals are harder to find right now, but they are still out there, just takes some patients and some time to find them, and maybe sometimes some creativity. I really like some things about this market even though it's competitive. Our Vacancy across the state is really low, and in certain cities it's lower than state wide. I can usually find fairly good clean, tenants, especially in certain areas. I have found single family townhomes to be really profitable right now ( about $390 cash flow per unit right now). I have been concentrating lately more on the multi-families, see where that takes us! I believe that there are still good deals here, I have seen a few recently even.

I am looking for anyone who has experience in building a duplex or triplex in Utah.  I have found a possible lot, but I would love any advice anyone has on building from start to finish, financing etc.

I have multiple properties and have had my share of electrical issues.  I have gone through a few electricians I really like Dustin Jensen @ triphase electric,  I have his contact info I'll send it to you via PM.

I just recently had this happen, in the process just after they had applied and I had offered them the place, they decided they would not be able to move as fast as we had originally talked, so I asked if they would be willing to start the contract a week earlier than they wanted and a week later than I wanted.  They agreed and we signed that day. They were amazing tenants ( had 700+) so I wanted them not the next in line.  Give a little get a little! 

What type of seller financing? 20% down? What are your taxes and insurance? 

I have had some small technical issues using cozy, but overall a good platform. It's awesome cause it's free.

Ana, as with all the other positive feedback, I believe it can be done! I would love to connect and be added to your buyers list as well!!

I would recommend Jeremiah Maughan, with Vision Real Estate.