All Forum Posts by: Bradley Penrod

@Joe Splitrock I definitely understand where you’re coming from. Thank you for sharing

All the prior comments are really good. Because of the growth of the past 6 years from when the Utah market bottomed in 2012, appreciation and principal pay down appear to be the only sane reasons to hold rentals in your portfolio in Utah - because compared to much of the rest of the country, the cash flow is lagging here. But for those with a longer term horizon, I have still been able to find a few SFR and Multi-family deals daily that work quite nicely on CoC and 10-year IRR. PM me if interested.

Those who try to predict the market tend to see lower average returns than those who actively invest on an ongoing basis by making informed decisions based on current market conditions. What I'm saying is, you'll lose a lot of time, opportunity, and money by waiting. I started investing with $5k. Granted, I was young and house hacking. You know your market better than I do, and 9 months isn't that long if you really want to wait and build those reserves, but I can't imagine waiting until I had $100k saved up to get started. What have you done to find distressed sellers and below-market properties? What are other local investors doing to find deals? Are you active in your local REI community by attending meetups?

That being said, if you do decide to wait, there's a LOT you can do now to build your brand and reputation. Keep networking on BP and in person, read, listen to podcasts, and learn as much as you can between now and then. Good luck! 

Hey @Bradley Penrod

I totally get where you are coming from. I have been budgeting and saving for a couple years now and keep wondering if now is the right time, or if we will see a market correction soon and have been trying to be "patient". I have used the time to educate myself on the different strategies of investing and have decided to invest now if I find the right opportunity. 

I love what @Neil Henderson shared with the 3 immutable laws. If you follow them you can survive during a downturn and then you are that much better positioned to thrive as the market comes back. You will have the network and experience in place to have a much bigger head start on everyone who waited until the downturn happened to try and start building the relationship and closing deals. You will already have the reputation of being someone who closes deals and the best deals will come to you first.

I agree that Utah is a tough market right now and is really hard to find deals that cashflow. that is why I have started looking out of state. David Green has a book on long distance RE investing and it is all about building a team of the right people. If you are thinking you want to get in the game, it may be worth considering investing out of state. 

Good luck in whatever direction you choose to go.