All Forum Posts by: Elijah Rosett

@Jess Carr

Awesome! Keep me updated on the result, excited to hear what you end up doing.

https://www.airdna.co/airbnb-calculator is very helpful aswell.

@Jess Carr

Hi Jess, the closer to the mountains the better! The upper valley (Eden/Huntsville) has a couple amazing reserviors and two ski resorts. This makes it desirable year round.

At the bottom of Ogden canyon you also have Weber State, if you want to be renting out a little longer periods.

Ogden is way cheaper than the upper valley, but it's obviously a trade-off.

Do you currently live up there?

Hey @Reed A. I've found one of the best places to be local Real Estate investor Facebook groups. You will get a lot of people who are obviously not legitimate, but also a lot of real people looking to do business.

@Cj Powderhorn, This will vary depending on where you are in the valley and on the type of property. Its not tough to have your mortgage covered or even cash flow if you have anything more than a SFR. As far as Sandy goes, you might be making less than your mortgage, but with what @Alan Walker is showing here, you're more than making up for that monthly loss in appreciation.

Hey Austin, I'm out of Farmington. Lets sit down and grab some coffee or a bite to eat. Always looking to network with more investors/ people on BiggerPockets, especially locally. 

@Luis Tabares

Hey Luis! Welcome to the forms. Let us know what you're interested in learning and we can help you out!

Hey Destin! I always suggest keeping properties as rentals if possible. As mentioned above, one of the best things you can do is pick up properties as you go, live there for at least a year, then convert into a rental. I'm a retired Marine myself and still hold onto a property in San Diego from when I was in. 

Dont let a realtor push you into selling! If you have any questions, let me know.

@Jacob Cserepes

That's awesome Jacob! Keep it up.

Hey @Josh B., @Jaysen Medhurst is totally correct. FHA is awesome for first time home buyers who don't mind paying PMI because it is their home. When it comes to a SFH investment a couple hundred dollars is a big deal.

I am familiar with Utah County and it is exploding right now, but I would count on 3% as well (worse case you're pleasantly  surprised?).

Conventional makes getting rid of PMI a lot easier for the borrower. Once you get to that 78-80% LTV, in most cases, you just contact your loan service and they will take it off.

SFH investment is an awesome idea, especially if you're living there with a couple friends who are covering rent. My suggestion would be live there as long as you can while having your friends cover the rent. Once you get to that 80% LTV you gain a lot of flexibility with renting it out to a single family. Hold the property for a long time. SFA investment is a long game, but worth it.

Good luck!