All Forum Posts by: Andy Jacobsen

Your address in the location above is listed as Utah, not Texas.  Just a heads up.  Good luck!

Nice job getting the 12 units under contract with equity! It is very competitive right now. 

I am not a mortgage or lending expert so I will leave those questions for others.  

I would  say a few things....

1. I would never buy something "just to lock in a good interest rate" 

2. If I have equity in a current property AND another deal to 1031 into I would consider selling. BUT!!!

3. I would not sell and then hold cash for the next few years while you wait for the market to "soften" 

In my opinion the Salt Lake county MF market shows very few signs of softening in the next two years. 

Most investors in Salt Lake county are working appreciation in their numbers which is part of the reason cap rates have dropped to 5%. That said, deals can still be found in SL county at cap rates >5% for those that are willing to get out there and grind. 

Good luck!

• 03/08/18 07:00PM - 08:00PM 
• 7070 S 2300 E Cottonwood Heights, Utah 84302
• Located inside the Re/Max Masters Building.

Thank you all for reaching out and your quick responses!  BP is awesome!

I have a 4 plex under contract and the current tenants are on a Section 8 lease. I have a bunch of questions because I have never dealt with Section 8 myself. I have contacted the Housing Authority that runs the Section 8 program and they were not helpful at all.  I am hoping to find someone with experience dealing with Section 8 in the Salt Lake area that I could buy lunch, coffee or an hour of their time to help answer some questions. Thanks in advance for any leads!

Looking forward to it! Thanks for setting this up!

Hey BP,

I am looking for a someone with land development experience to partner on a land deal.  I thought it was worth checking on BP before I go to my "usual suspects" for partners.

Details: 2.5 acre parcel under contract in West Valley, Utah. Contingent on subdivision approval by the city.  Hired an engineer and are currently going through the process of rezoning and subdividing the property.  The rezoning was approved but we are still waiting for the subdivision to be approved by the city.  Apparently rezoning and subdivision can not be approved simultaneously. Still in the process of determining the most profitable use of the land but are open to everything from selling vacant lots with utilities stubbed to putting houses on each lot.

If this sounds like a project that you would be interested in please contact me for more details. 

Thanks!

Andy

I am a small business owner and real estate investor looking to find and accountant with experience in small business, real estate investing and strategic tax planning.  I live in Salt Lake City, Utah and would prefer to find someone local but am open to working with someone remotely.  Thank you beforehand for any referrals and suggestions!