All Forum Posts by: Caleb Rigby

Hi @Jose Alonsoo! Welcome to Bigger Pockets. Excited to connect with someone close by (I'm in Layton). 

I'd love to hear the numbers on this one, @Victor Sine!

@David Ripplinger, If you're on Facebook, there is a Connect Utah group that has hundreds of contractors and handymen. I would search that group first, and then if you don't find a couple people to call, make your own post in that group. 

@William Ika please reach out if I can help out in any way.

@Dominic Richardson, you've got a few options when you're just starting out. If you own a home, you can get a HELOC and borrow against that. You can network with other local flippers and see if they're willing to share their hard money lenders. You may have heard this before (but it's true), but if you have a "deal", then the money will be the easy part.

@Jeremy Davis, I'd love to connect and hopefully we can do some deals down the road. 

@Steve Morris, haha absolutely nothing. Maybe you can give me some ideas though 😜

@William Hochstedler, great question! I honestly think that Utah is pretty well insulated and that perhaps we'll have a small, seasonal cooling off period this fall and winter, but because inventory levels are so low, we'll continue to see appreciation in the spring and beyond. Finding deals is becoming more competitive everyday, but I'm still finding good deals through wholesalers (most often) and sometimes my own marketing. 

I wanted to jump in here and give an update on how 2020 has gone for my business and what I think the short-term outlook will look like in Utah. Since it has been awhile since I've posted anything, let me recap what we did last year - In 2019, I officially left my corporate W2 job at the end of April and became a full-time house flipper. I was terrified about the thought of leaving that secure paycheck, but we felt like it was the right thing to do. Having SO much more time to focus on flipping allowed us to finish 14 flips last year and have a really good year. 

Fast forward to this year and we're having our best year ever (despite the pandemic) and I wanted to come on here and mainly be a voice of encouragement for anyone that needs it. If we finish the houses that we have in our pipeline on time, we will flip 23 properties this year! We expanded our flipping operations this year and have done deals as far north as Box Elder County and as far south as Sandy. We've fluctuated between 2-4 construction crews at a time and at our height had 10 flips going on (😮). We had our first 6-figure deal but also had a our biggest loss on a flip too - 2020 has been a roller coaster ride for sure!

For anyone on the fence about real estate investing, I'm walking proof that anyone can jump in, learn, and be successful. Real estate has been a huge blessing for my family and so if you've been thinking about it or tinkering with it...my advice is to get more serious, learn as much as possible (there are a million RE podcasts) and discover the niche that gets you excited and then go out and do it! Reach out and connect if you're local (or not) here in Utah, I'd love to help out anyway I can. 

Hey @Richard S Myers, congrats on getting started. That's the hardest part of the real estate game. Are you planning to wholesale, flip, or buy and hold the properties you find? 

I made a little over $100k on a wholetail transaction earlier this year in Salt Lake City, Utah. I purchased the home in September 2019 and let the family rent it back from me until February 2020. Once they moved out, we removed the pee-stained carpet and listed it as-is on the MLS. We received a full price, cash offer the first day. Purchased for $400k and sold for $550k. Netted ~ $104k after closing and hard money costs.

@Carson Emery, yep, that's exactly what I did. But I had absolutely zero luck (tried with 5-7 different cites). They said it wasn't public information, so I had no right to get access to it. 

I honestly feel like that would be the hottest wholesale list, if you could get your hands on it. 

@Trent Stone, please add me to your cash buyers list.