All Forum Posts by: Justin Morgan

@Cole Albrecht

Howdy from Southern Utah! 💪🏻

@Ryke Erickson welcome!

Yup, just start a conversation with anyone. Causally asking “do you know anyone in the nieghbor hood that might want to sell”. It gets people talking often times.

If you are really bold... yes, ask outright.

Who do you use, what do have for professional liability insurance?  I am covered on flips... but what about all the company, employee and team liability coverage.   

Things like error and omissions, sexual or discriminatory actions an employee might make and all the craziness that could happen with a growing company and more employees.

Anyone that you could tag that would know the answers... I want correct insurance coverage?  

 P.S.  We will do 50 flips and around $1m this year... I am feeling a need to get more coverage.  

Thanks! 

@Austin Stout the vacation rental space is very limited in St. George due to city ordinances.  My properties are rural recreation areas and north of $1million to attract the bigger families and higher $$$.  I do have a $75k condo in Brianhead and it does NOT pay for itself (bad snow year, bummer deal, maybe this year it will).

Seems like a few others agree that the small towns have good starting cash flow for SFR rentals. Like anything, you have to find good people.

Living near your investments is totally great because of the overall convenience.  Like @Alison Kovac said, and I totally agree... Living far away is ok also because you learn to set up a team and treat it like a business and not a hobby.  

St. George is really not that far away.  You will have a hard time finding anything that the numbers work with (referring to the 1% rule.) in Cedar City or St. George right now.  

We have found that the cash flow is better in the rural Utah towns but there are drawbacks like unemployment and potentially rougher tenant. 

I have sold my rentals and rolled things into Vacation rentals... I like the tenants more, I like the properties more and the cash flow is better.  But is does require more management day to day. 

St. George?... define “cheaper yet profitable”?  

We have a few options but paying retail in the few areas available here require buying under market value.   Tough order, but possible. 

Hey @Tony Solano ... Alison made some great points.  It sounds like you are doing many things that will pay off.  It is a numbers game, so keep at it. 

I might also suggest that you call any and all "for rent" signs in addition to FSBO. You can ask them about the property and get an idea of market rents and then also ask "by chance, would you consider selling". You will find tired landlords that way also. Again, a numbers game.

As @Alison Kovac mentioned we also have Southern Utah Real Estate Investors Association that meets the 3rd Wednesday of each month.  If you like, lets connect on those details. 

Hey @Kyle Bergren  

Nice job reaching out.  You tagged Southern Utah so I thought I would reach out if you need anything here. 

We have a full time, large, and efficient house flipping and wholesaling company.  If you have any deals you want to wholesale we will buy them.  We can also help locking up a contract if you need help with that, to get a deal done. 

Also we are always looking for more private lenders and money partners on deals.   If you have some money you want to put to work in Southern Utah, lets chat!

Hope to do some deals with you!