All Forum Posts by: Derek Schetselaar

@Logan M. Good thoughts man! I always appreciate a shift of my perspective. When you say "1. Utah will most likely out pace almost any other market." Do you mean in appreciation? demand? cash flow? 

I like your way of thinking, similar to the rich dad poor dad line of thinking. Saying I can't afford it, compared to how can I afford it ---> I can't get deals in Utah, rather How can I get deals in Utah. 

Thanks!  

@Logan M. Yeah you are right. I definitely need to expand my network, and find more deals that way. Good thoughts.

I'm just saying above, that it's going to take patience, and networking, and creativity to find a good deal while Utah is expanding so much. It is possible, just not as easy as some states. 

 

My mentor told me that in his case, a management company takes the "knowing the people" out of the picture. He said that because he knows the tenants and knows there struggles, he doesn't raise the rent as often as maybe he should....He was saying, if he had gotten a management company they could have helped him keep up with the rent increases. A suggestion (like others have said) may be to take yourself out of the picture, and have a management company be the bad guy. Good luck! 

Thanks for setting this up @Jeremiah Maughan! 

I 100% agree Miguel! I think that ideally you should buy with cash flow, and then have the appreciation be the icing on the cake. I think there are deals out there in Utah, but the ones that cash flow are the multifamily, and the house hacking. I think a SFH would be hard to cash flow right now. Maybe a Condo would be a good investment that could cash flow easier?

That's a win Coco! Nice Work. Those are the type of deals that keep us going.  

Usually not a good idea. Too many potential consequences. Make sure you know exactly how your servicer is handing it, and if it will affect your credit. Get something in writing if you want to go down that path. 

Haha, it sometimes feels that way. Working with Realtors on a day to day basis I feel like it's all about finding the right agent. The super busy agents will sometimes have things fall through the cracks (because they are human), and the agents that don't have any business don't know how to follow up. The key is to find an agent in the middle that has good experience, and a process to help you have a good experience. 

Partially habit. I know that's not what your asking, but I read the power of habit recently by Charles Duhigg and realized how important habits are in our life. Discipline and habits are important to success in life, motivation can enhance our activities, but it only lasts for a short time. 

Hey Miguel! I ran into this same problem as I was analyzing properties. The cash flow is not there with prices the way they are, unless its a really good deal at least on single family properties. But, on the flip side the appreciation is amazing in Utah, home prices are going up and up with no end in sight. I think we just have to look at investing a little different here, and either try different strategies or focus on the buying under valued properties that will appreciate in the next couple years.