All Forum Posts by: Eric Gardiner

@Jen Hoang  Reach out to me to discuss more. I own a unit in Park City and my wife manages 2 units in park City at the base of PCMR. I am happy to talk on the phone. 

hi @Chance Gurr

I have used Incite Tax in Sandy Utah for the last 2 years and have been pleased so far. They are very aggressive and seem to know their stuff. A friend of mine has used them for 5 or 6 years and loves them also. 

The important thing to keep in mind while getting one is that they are good at asset protection and tax planning. 

I have a meeting with them this Friday and will have that conversation with them. 

I posted this on the other thread you started also but the same logic hold here also.

Hi @Dee Deeksha If you are hoping to live there and then eventually move out and rent it then you will want to look at rental rates and demand for rentals in that area. I personally would not do anything in Daybreak and that is in large part due to the HOAs that exist there.

I bought my first house that also had a mother in law apartment in Sugarhouse. We bought there because it was close to my job and it is a very happening place. Rents are sky high. We bought that place 7 years ago. Since then I have moved out and rent our both units and make a great amount of cashflow.

Things to consider when you shop for a home.

1. Location and the commute for you.

2. Location and the possible rents you will be able to charge in the future.
3. what will be your cashflow once you do start renting it out. Do the rents in that area justify investing there.

4. Is the house in the condition or age you prefer or feel good about owning. Some homes close to downtown are very very very old. Be ready for that.

If I had $450K. I would buy a duplex in Sugarhouse, Millcreek, or near Foothill drive with an FHA loan. Then I would rent out half and live in half.

Good luck and have fun!

Hi @Dee Deeksha If you are hoping to live there and then eventually move out and rent it then you will want to look at rental rates and demand for rentals in that area. I personally would not do anything in Daybreak and that is in large part due to the HOAs that exist there.

I bought my first house that also had a mother in law apartment in Sugarhouse. We bought there because it was close to my job and it is a very happening place. Rents are sky high. We bought that place 7 years ago. Since then I have moved out and rent our both units and make a great amount of cashflow. 

Things to consider when you shop for a home.

1. Location and the commute for you.

2. Location and the possible rents you will be able to charge in the future. 
3. what will be your cashflow once you do start renting it out. Do the rents in that area justify investing there.

4. Is the house in the condition or age you prefer or feel good about owning. Some homes close to downtown are very very very old. Be ready for that. 

If I had $450K. I would buy a duplex in Sugarhouse, Millcreek, or near Foothill drive with an FHA loan. Then I would rent out half and live in half.

Good luck and have fun!

@Bryce Jensen Hi Bryce and welcome to BP. So rentals are super expensive in areas that you think would be and get less expensive from a price point viewpoint as you going out into the stick or rural areas more. I just toured a duplex in Salt lake that is just over 500k and while that is a huge price point the cap rate is still 6% which is ok in my book..

If you go to Ogden you can get cheaper price points but you are going to be in a rougher neighborhoods. 

You can also go to places like Brigham City and Tremonton for lower prices but rents are also lower. 

So you need to figure out how much cash do you have to put as a down. If you have 3.5% you could owner occupy a duplex. That is how I got started. Then fix it up as your go. 

I think you are on the right track in regards to learning. Just keep learning and analyze some deals so you can wrap your head around how much you need to put down to make the money that you want to make. 

Best of Luck. 

@Tairsa Mathews Congrats on getting in on investing early. You mention that you bought the first house hack 2 years ago and now you are ready to get another. I think buying every 2 years if possible is a great way to start to build a portfolio with out over leveraging yourself.  Have fun on the journey and welcome to BP. 

@Scott Bowles

I have two. DM me and I can send them over. 

@Jeff Engebretsen I think there are deals in Utah. The profits or cashflow arent as great but you can find them. Right now I like being local to my investments. I am working towards expanding to Texas soon. 

@Jeff Engebretsen Hi Jeff, Welcome to BP. Congrats on diving in. I am located in Salt Lake City. I look forward to following your adventure. 

@Aaron Cheung Hi Aaron, I think most of the wasatch front is a good place to buy rentals or flip. I search heavily around Hill Air Force Base and in Salt Lake County. The key is to find a good deal. For that you will need to analyze a bunch of deals and keep an eye out for the really good stuff. 

What kind of financing are you planning to use? I compile and send out a report weekly of foreclosures that are coming up along the Wasatch front but to buy those you need the cash.