All Forum Posts by: Chris Hornbeak

Hey everyone, if you are open to it, please share your success stories of HH in the valley. 

Has anyone had success in areas west of I-15? If so please share. 

Its looking like Millcreek is where I want to focus, it seems to be a good split in demand between the Cottonwood canyons and Park City. With that said... The market is so aggressive right now, it may be difficult/ impossible to find a property where the numbers work just right. 

The prices of properties west of I-15 is very interesting, but desirability for Airbnb's and long term rentals is surly less than further east. I'd like to hear your thoughts. 

Thanks for the insight! Millcreek is one of my favorite areas, but it seems that anything that hits the market there is gone within a heartbeat. 

Good to know about the ADU provision and the 2 family zoning. I'll keep my eyes open for that. I've always wanted to build an ADU! It sounds like a really fun project that adds a huge amount of value.

@NickSpurlock Thanks for the reply. 

So far... Cottonwood heights is a no go zone for house hacking in general. No more than 4 unrelated people under a single roof. Strictly regulated STR rules. Bummer! I like the neighborhood.

Sandy has better prospects, as does most of the east bench, for an Airbnb focused house hack centering on a basement unit. 

There's huge seasonality with the wintertime tourism. I'm thinking the game is to collect enough income during peak season to cover the rest of the year, or at least part of it.

Anyone have good luck automating their Airbnb/ what % for management fees is typical for the area? 

Thank you for the insights! Will definitely join some FB groups to get more information. 

The small multi family strategy is also very interesting, but very hard to contemplate with how little inventory there is. 

Good Morning Bigger Pockets!

I plan to purchase a house hack-able property in SLC, and would like to strategize/ get some insight into the best way to go about it. 

My current plan is to find a large house in either Sandy or Cottonwood Heights. Ideally renting a basement apartment to a long term tenant. To cover the rest of the PITI, I intend to list a room or two on Airbnb.

Covid is temporary and the ski resorts aren't going anywhere, so I figure there is significant long term (winter) demand for Airbnb's near the entrance to BCC and LCC. 

I could rent the basement on Airbnb as well to maximize income, but I love the idea of low maintenance, stable income from a long term renter. 

My other idea is to find a property where building an ADU in the backyard is possible. I would live in the ADU, then rent the main house in it's entirety.

Am I crazy? Are there strategies you folks have seen work well? 

I would love to hear your thoughts.

Thanks!