All Forum Posts by: Chaz Spackman

I have just moved into the Washington County Area of Southern Utah and have been doing my research on short term rentals here.  I'm aware that things are zoned in specific areas for rentals and have tried reaching out to a couple real estate agents to get a bit more info but have come up short on my efforts so far.

Was wondering if there is anybody in Bigger Pockets with experience in this market with short term renting while owning and hosting properties or even just cohosting properties.  I'm a full time entrepreneur and run my own businesses.  My wife does not work so we're looking to potentially buy a property or two with already saved capital and host our own rentals for the first while as we gain a better understanding of the market and what makes sense.

Would love to chat with anyone who has experience in this market about what's worked and what hasn't if you're willing.

Really appreciate it!

@Craig Jeppesen thanks for your input Craig. I see some of the deals you’ve done on your page and they look great. Definitely nothing like that out there right now.

@Don Spafford makes sense, Don. Appreciate your insight. Would love to have a chat with your wife potentially to see if there’s anything out there that makes sense.

@Wayne Crabtree appreciate the insight Wayne. I’ve been looking at some of the multi-family deals as well up there and looks like there may be some room there for sure. Are you buying and holding the units or just rehabbing and flipping? I’m based in Preston and the market here (and Logan) is tough right now. Was surprised how much better Pocatello seemed to be to get into.

@John K. Agreed. Going to call in the morning.

@Jerry Lucker that’s what I thought, just seemed like an easy way to get past the system! Going to call the park managers in the morning just to clarify there won’t be any trouble.

@Matt Bonestroo all great questions. I have not tested the market. The home is in livable condition as is really. Has a $1000 repair that I’ve talked the owner down on already to purchase the home closer to $3k. Other than that it really just needs a new tub. The lot is $370 per month which isn’t bad at all - have plenty of capital as I’ve been saving to invest in real estate for the past couple years. This deal was really just to get my feet wet and get something under my feet that wouldn’t break the bank if I have a slip up. I’m in the SE Idaho market. Really appreciate your insight and thought process. I like the idea of mobiles for the first few investments. Have you ever had trouble with buying a home in a mobile park that doesn’t allow rent or leases with an owner finance deal?

I’ve found a 1971 manufactured home that I can snag for $4k (possibly cheaper) from a motivated seller. The home is in a mobile home park that doesn’t allow rents or leases. It clearly states home owners only on the site.

The seller has the title to the home and is ready to move upon payment. If I were to purchase it cash, put $3-4k into it to fix it up a bit, and then sale it, would I be able to sale it on an owner financing deal that would step aside the owner occupancy only guideline?

Curious if anyone has taken a similar approach in the past or ran into issues with this?

@Don Spafford Appreciate the response, Don. From your knowledge, are there a decent amount of wholesalers in the area? By the looks of the MLS, there are some properties where you could fix and flip at the moment, but pretty high risk as profits are roughly $5-15k (at least by my estimations and I'm no expert). Thanks again!

Hey all,  to keep it short, I've been saving capital and educating myself on flips and buy and holds over the past couple years.  I'm at a point where I've got a decent amount of capital to put into real estate.  The market in my small town isn't the greatest at the moment.  Looking at the Pocatello market (about an hour north of me) has got my interest. Seems like there may be some potential in this area.  Is there anybody doing this successfully in this market at the moment?  Would love to connect and network with anybody out there.  I'm sitting in a pretty rare situation where I have time AND capital as I own my own businesses and am in a situation to hit the ground running.  Just looking for someone to talk with about the market and potentially create a team to get started.

Appreciate any response!