All Forum Posts by: Austin Stout

@Alison Kovac @Justin Morgan Very good points about the out of area properties and how it makes you get a team together to handle business. I'm not looking for another hobby so regardless I'll need to find reliable people. I never thought about it that way! My buddy had 8 units locally but got burned out because he tried to do everything himself from the management to repairs. I have looked a little more into cedar city than St George and it does look like finding a deal that meets the 1% rule will be tougher than the smaller rural areas. Do rent out single family homes in St George for vacations? That actually sounds like a pretty cool idea and more enjoyable people to work with would be nice. @Jaiden Olsen I don't know any property management companies in Price but I know of a reliable plumbing guy and handyman/repair guy if you need someone! @Rich Miami Right on man! Cool to hear from other young guys trying to get started in this game! Good luck to you as well!

Hey fam! My name is Austin Stout, new to the forum. I'm looking for some input on my current situation with getting started in multifamily. I'm not sure about the long-term economy of my hometown, Price Utah.

The biggest and most reliable employment in Price is with education as we have a branch of USU in town and various grade schools. 

There are less than 9k people in town with not much job growth. 

According to some info I found online, 35% of the properties are rented vs owned

Median home value- 179k Median market price- 132k. (values have went up 5.5% over the last year according to zillow.com

I have been researching St George Ut, and Cedar City UT as well but I'm not sure how feasible it would be to start out living 4-5 hours away from my properties. (sounds tough)

 I live at home with my parents and have saved up a bit of cash to help get started. That being said, I will be needing my own place soon as well.

Should I get started here in town providing I find a deal where the numbers make sense? (Hopefully, live in one unit and rent the others) or go to a bigger city with a more reliable economy and more property options?

I would really appreciate any insight! 

Thank you for your time!