All Forum Posts by: Doug Quist

I'm in and I've completed the task!

https://www.biggerpockets.com/analysis/rentals/b5be5044-5485...
https://www.biggerpockets.com/analysis/rentals/e3ad4bef-118d...
https://www.biggerpockets.com/analysis/rentals/855e5f50-4daf...
https://www.biggerpockets.com/analysis/rentals/c6842995-de21...
https://www.biggerpockets.com/analysis/rentals/2ab388fe-3b79...
https://www.biggerpockets.com/analysis/rentals/9ea053e5-8926...
https://www.biggerpockets.com/analysis/rentals/75fbc985-4a57...

Cheers!

 I'd be happy to get a pointer for one of those "great deals on a townhome" in Lehi.  I'm always open to a great deal.  Thanks.

@Shawn W., sorry for the slow reply.  I'm also looking at properties in Alabama and Indiana, but haven't pulled the trigger yet due to personal complications.  I do have a great property management team at MAXX PM (maxxpm.com) and I've been working with a couple realtors with the Evans Team (https://www.seeutahhomes.com/evansteam), but I don't think they are on BP.

Due to my intense W-2 job, I'm pretty passive and have purchased stabilized properties (fourplexes, duplexes and single family).  I'm not an agent, just an investor with 28 doors managed by my PM and watching the cash flow.  Happy to connect.

I'd love to hear more details about the "unique lender / landlord laws" in Utah and AZ, please.

Thanks in advance...Doug 

I'm confused by this post.  What is the ask?

I'm not really interested in House Hacking, well, I actually AM interested, but my wife isn't, yet.  I'll try to look for the next meeting after the one on House Hacking.

I've been using MAXX PM (https://maxxpm.com/) in Lehi, UT and they manage properties for me across Utah and SL counties and soon up in Ogden.  I have 27 doors with them and will soon have another 11 doors.

I'm an investor here in Utah.  Mostly in Utah and SL County, but am building a fourplex in Ogden and JVing on another build-to-rent fourplex also in Ogden.

I'd be open to looking at Class A single-family properties with 1-4 bedrooms, but nothing larger.  My target would be to do mid-term rentals with the smaller bedroom counts and LTR for the larger properties.  No interest in anything 5+ bedrooms and lower interest even in 4 bedrooms.

I'm not sure I share your thoughts about Utah being a more "cash flow friendly, affordable market".  It certainly is more than SF Bay Area, but is not anywhere near the 1% model.

The last property I purchased was in Nov 2021 and my model, which is very conservative, showed about a 1% CoC with 75% LTV on a 30 year fixed at 2.75%. It is doing much better and has a DSCR ratio of 1.2 now, but if I were to buy it at today's interest rates it would be a seriously negative carry.

I'm looking to buy a single-family Subject To with a partner at 500k with a 2.75% underlying loan on almost $400k and it will be just slightly negative at about $-200 a month, but debt paydown is almost $1k a month and I'm sure in a few years the appreciation and rent growth will make it be more than break even.  I've got a long-term horizon with all my properties and can easily cover the negative carry for many years, if needed.

Better cash flow markets, IMHO are more mid-west markets.