All Forum Posts by: Andrew McFarlane

Thanks @Travis Fisher and @R Trevor Dowdle for your feedback!  

I just recently found a place in the North Salt Lake area I'm going to take a look at and see what I can do. From the pictures it looks like it is a full basement apartment with a separate entrance and parking for two cars. But we'll see once I check it out!  

I'm hoping to rent out the bastment to at least supplement the house payment and utilities to save up from my day job and keep on moving onto building the portfolio down the road.

from Riverton, Utah

@Travis Fisher Is this list still current?  Were you able to find out that information by just searching for accessory dwellings in Utah?

I'm looking for duplexes or SFH with a MIL apartment... Duplexes right now are few and far between (in areas where I could live) and SFM with MIL apartments look like the next best thing.

Also, do you know if using AirBnB has the same restrictions as renting out to someone month to month?

I don't have a story yet... but I'm building one!

Welcome! I'm new to investing as well and am learning a ton here through BP and all that they have to offer. Looking for agents and leads as well! 

Welcome to the community!

That would be great! If there is a way to get an excel file of all of the listings that would help me those most but I'll take what I can get to put together comps and use that data to help in my analyses of properties. 

And yes I heard the "solds" are either inaccurate or non-existent as Utah does not require those numbers to be public record.

Aaron Smith thanks Aaron!

Anthony Hurlburt that's good to hear! Listening to some family members that own rentals made it seem otherwise. Where can I go to find more information about all of the legal parameters I should know? Is there a website or class I can go to?

Hello All!

How do you get a "pulse" on the market? Do most people just look at all of the MLS listing sites (Realtor, Trulia, Zillow, etc.) or local classifieds and craigslist?

Whats the best way to pull comps? Is there a database to pull all of this information from?

Thanks,

Andrew

Hey Everyone,

How do you best go about analyzing a house hack deal? 

Do you factor in the money you are not paying into your "gross income" on the property? Or do you only use the rent from the other unit(s) in your calculation. 

I'm currently looking at some duplexes in my area that I would like to house hack with, but using the BP Rental Calculator makes the deal look "bad."  I can make triplexes and fourplexes look pretty good, however, those tend to be slightly out of my price range at the moment.

Thanks,

Andrew

Hello all!

I am new to the business here in Salt Lake City, Utah. Just through conversations with my wife and with other family members that are RE investors, the thought of the legal parameters for a landlord seem daunting. It seems that the law wants to favor the renter more. 

In order to be protected, I want to further understand the laws behind REI. Does anyone have any tips about where to go to learn everything I need to know so I can be best prepared and avoid any unwanted $1000+ surprises?

Thanks,

Andrew