All Forum Posts by: Carlin Barney

That makes sense. In the beginning you may have no money but you can make up where you lack in that regard with putting in the time and effort. Thanks for the insight!

I’m not looking for anyone to beat around the bush. Thats not my personality so thank you for your frankness. These are just questions that I’ve been mulling around in my head. Thanks for your straightforward approach! I appreciate it. 

Hey UT BP users!

I’m curious what experienced investors in the area look for in a partner. Also, how willing those experienced investors are to partner with a rookie/new investor. For example, what does the ideal partnership with a rookie look like to you? Why? What do you want the rookie to bring to the table? Money? willingness to learn? What if they bring a deal to you? Are you willing to go in 50/50 on that deal and what is that 50/50 (would you be willing to take a deal that a rookie found and fund it then split the difference 50/50?) 

These have been recent questions running through my head at the moment. I’m really curious. I think this life is much better when we use interdependence. Looking forward to the replies.

Thanks everyone! These are some awesome insights!

@Amy Kendall I’m sure you got some great deals being a Real estate agent. Especially considering that the Lehi area is blowing up right now. I have been playing with the idea of a house hack for sure. Even trying to get creative like you and find houses that would be pretty easy to cut a basement entrance into.

I’d be curious to know what you look for in a good deal in the Utah county area since it seems to be your bread and butter. I mean for a 3 bed two bath with an unfinished basement is gonna run me what, 400k in that area? Plus another 10 k to cut in a basement and then 25-40k for finishing and furnishing the basement?

Would you consider an FHA203k loan?

@Robert Hansen bugger pockets came in really well for you then! Do you mind if I ask your numbers?

COC return, rent amount, vacancy, rehab costs?

@Robert Hansen I kind of got that feeling. I have been looking at Nebraska since I lived there the past year and the Midwest seems like a reasonable place.

What kind of hurdles did you have to work through investing out of state? Ie finding realtor, property manager

Did you fly out to see the unit?

Hey Utah BP members! 

Nice to meet you all. I’ve had this account for awhile. I’ve just been keeping current while I finish PA school. Now I’m hoping to add more to this forum. 

Been analyzing deals and trying to find my niche I want to start in and boy is the Utah market a tough/ intimidating one to get into. 

Right now I'm thinking of a house hack in a SFH with possible basements that could be renovated into a MIL-A (finished or unfinished) maybe with an FHA loan or FHA 203k. Admittedly I don't know where the numbers will work, I'm pushing margins in the salt lake valley and nothing I've analyzed yet is giving me the COC that I would like or feel comfortable with.

Curious to learn from others who have been successful and use this time as a learning period and really use it to hit the ground running when my partner and I eventually pull the trigger!

Hey BP Followers!

I was sitting here reading the news this morning and lo and behold I see the US government is close to pushing another stimulus package as well as lengthening the “no eviction” mandate to the end of the year. I’m a medical professional and not very versed in the intricacies of the economy and the long ranging effects these two things can have. However I’m inclined to think that 2 stimulus packages of these large amounts cant be good for the future of the economy can it? IF they cut interest rates again, is it possible that it can risk another bubble like 2008-2009? IF they inject the economy with more money yet again, isn’t that going to impact inflation rates and create an artificial bubble? I mean housing markets everywhere are insane. Take Utah, California, Idaho for example, housing market is getting out of control in all three states. That coupled with inflation and near zero interest rates increases US risk of another 08-09, i would think, but again I’m relatively unversed in this area. I’m just curious if there are smarter people than me on here to explain what they are seeing or offer their insights. 

Trying to learn more and the best way to do that is by associating with people smarter than myself in this respective area. 

Thanks everyone.