All Forum Posts by: Antonio Cardenas

@Antonio Cardenas  I'm a SLC investor, and what @Nathan Gesner said is 10000% correct (I'd suggest reading his post again, because it could end up saving you an enormous amount of cash and headache).

Right now is an extremely risky time to be flipping houses (even for experienced pros). Unfortunately, there are a lot of flippers out there who aren't hitting their ARVs--in which case, they'd better have another exit plan, or they'll lose their shirt. You do NOT want to be the guy who's on the hook 550k for a house that you can't sell for 475k.

Personally, I wouldn't get anywhere near a flip right now (even though I have the experience to do one) ...not unless it was the absolute deal of the century.

I'd suggest studying up on strategies that are less risky, and more beginner-friendly (like house hacking).

I've completed many house hacks in Salt Lake City--it's how I got my start, and how I built the foundation of my portfolio.

Regardless of what you do, make sure you thoroughly understand the SLC market--it has areas that are very strong appreciation plays that are recession resistant (e.g.; the most desirable A and B neighborhoods near the city center and the East side like Sugarhouse, the Aves, E. Millcreek), but it also has areas that, IMO, are very vulnerable to a market downturn right now (e.g.; the less desirable neighborhoods on the West side). Location, location, location--the most fundamental rule in RE. 

Good luck out there!

Hello Antonio! Welcome to Bigger Pockets Salt Lake City forum! 

Starting out in real estate is so exciting! SO MANY possibilities, SO MANY pathways to explore, and SO MUCH opportunity to build wealth. I am sure you have so many questions. If you are in the local area, I would love to talk further about your goals and plans in SLC over coffee or lunch. I also can schedule a Zoom call if that works better for you!