All Forum Posts by: Jake VandeMerwe

Thanks for the insights everyone! Totally with you on house hacking, we've been doing that for a few years now. It's been a one trick pony for us because we have 4 kids and don't really want to move frequently, but I don't think I'll ever own a home without a basement apartment. No sense in paying my mortgage all by myself.

Our situation now is that we have steady income, $100k to invest, and we want to spread it as far as we can. I've been able to find deals that cash flow in Utah, but I don't really want to throw all my capital into just one or two deals for a few hundred dollars per month in income. BRRR is appealing because we could recycle our capital. Even if we can't get 100% out, if I could do 4 or 5 deals instead of 1 or 2, my guess is it probably makes sense. We'd prefer to invest somewhere within driving distance from Salt Lake County, so Pocatello would work.

What advice do you have for finding good deals? What meet ups or groups should we be a part of?

If BRRR doesn't work, we've thought about buying in good locations for Airbnb. If I can't get my capital back out through a near term refi, maybe Airbnb would cash flow more? What strategies are you using that work in Utah?

My wife and I are exploring options to begin seriously investing in real estate. We are reading Brandon Turner's book "the Book on Rental Property Investing." We like the concept of starting with a couple of BRRR's per year. We're targeting a 5% to 10% cash-on-cash return. The numbers only pencil if you're able to purchase at 70% of ARV (or less). Relative to the mid-west pricing Brandon describes in the book, Utah is a hot market with high demand for housing. Prices are high. I've looked into a few wholesale deals in the past and they all get dozens of offers within hours of listing.

Does anyone have advice for how to find great deals in Utah? Is BRRR a viable strategy here or should we pivot?

Thanks in advance!