All Forum Posts by: Dan Gustavson

Hello Chris - My advice is make sure you check the zoning board to make sure that the property is zoned for ADU's before you purchase it. Same goes for renting out a basement. The last time I checked, my area won't allow either one (not that it has stopped some people from doing it anyway). I think house hacking is the best strategy in SLC right now as the market has become crazy expensive. Good luck, Sandy and CH are both beautiful cities with the Mtn's so close. I'm just across the valley on the south/west side.

As I sit here overseas away from my family this holiday, I would just like to wish my BP family Happy Thanksgiving. I'm grateful that I have such a great community here to help this deployment go by quicker by learning and reading all your forum/blog posts. Happy Thanksgiving everyone, have a great day!

@Remington Lyman - Thanks, appreciate your feedback.

Hi Community - Just reaching out here to see if I can get any information on Newark, OH (or surrounding areas with similar price point). I live in Salt Lake City, UT (although currently deployed) with one rental and am looking to explore out of state as our market has exploded. I have been looking around Columbus when I saw Newark. Not sure how the suburbs work 40 min east of Columbus, but I know people don't blink at a 40 min commute in Salt Lake. Anyone invest in/around Newark and could give me pros/cons? I would be concerned with vacancy being that far away from the city. Is it a nice/quiet town, or is it run down? Any info would be appreciated. Thanks All!

@Stone Jin - Looking at the possibility of investing in multi-family in OH from UT, any areas I should stay away from? Been researching suburbs of Toledo, Cleveland, and Cincinnati. 

@Brandon Pace - Google "salt lake city real estate wholesalers" and go to each business directly and sign up for their buyers list. They will start flooding your inbox with properties all over Utah. However, with our hot market, I haven't seen any deals. It's very expensive when starting out to buy a property for 400k+ that needs a full gut rehab. I would love to stay in northern Utah, just not sure how I will do that at the moment. 

@Brandon Pace I get it with the new construction. That's what my first rental was 4 years ago, brand new townhouse. Has needed very little maintenance being new. Thought I way over paid for it back then, but now I which I would have bought a dozen more as the equity has gone through the roof. I'm in Herriman and the market is insane. No inventory for pre-existing homes, and construction prices have jumped up to crazy levels.. especially with covid. Looking for small multi-family and smaller SFR to BRRRR. I've been looking in the smaller communities far south Utah County and even further like Vernal and Ivins. Been looking on MLS every now and again, but more looking on KSL under FSBO hoping to score a deal without getting a realtor involved. Even the wholesalers that send me emails are asking a lot for homes in SLC.

@Apostoli S Hillas - I agree with others, focus on your education and learn what you can about real estate with your downtime. If I could start over young, I would buy a 2-4plex and house hack while going to school. That at least gets your feet wet with little down while you pursue your law degree. Good luck!

@Brandon - Congrats on your 3 properties over such a short timeframe. I'm in the southern portion of the SLC valley and finding it extremely difficult to find anything. Where are you finding these deals? All the best!

@Stacey Mollinet - Have been interested in Vernal and happened to stumble across this thread. Curious as to how well your 5plex is doing currently? Do you still have it and would you purchase in Roosevelt/Vernal area again? Thank you for any insight.