All Forum Posts by: Jaiden Olsen

@Jeff Rappaport Is a great wholesaler and is heavily involved in the Salt lake City Market! Good Luck!

@Micah Starbuck, If you decide to sell, I'm interested in buying. PM me if  you're interested.

It sounds to me like you need a new property manager! 

It is all about the numbers. In determining when to sell, I think you've got to look at a metric called Return on Equity (ROE). Calculated as Annual Cashflow/Estimated Equity in the property. I'm sure you know how to calculate annual cashflow (gross operating income-operating expenses-annual debt service). Estimated Equity is calculated as Estimated Market Value minus remaining mortgage balance. 

For me, if my ROE is below 3%-4%, I think it is time consider selling and leverage my capital a little more effectively. Some people are much more comfortable with ROE closer to 1%-2%, but it totally depends on the individual.

Best of Luck!

@William Hochstedler is in the Know about the Northern Utah REIA, I need to start going to these as well, I've been regularly attending the Salt Lake REIA and it has been fantastic, but it's always good to expand and grow! Welcome to BP!

I'd be careful. There are new regulations in Utah that require all wholesalers to have a real estate license. Just be smart about it.

@Jackson Pontsler, that's exciting stuff man! I hope you are able to be super successful at it! I would highly recommend using the resources available to you on AirDNA. https://www.airdna.co/.  I'm pretty sure that there is a free trial period. It has some awesome resources though. Check it out!

Cody Reeder is the best of the best. He is a powerhouse buy and hold investor and owns one of the largest property management companies in the area. Check out his website and give him a call.

http://www.reederproperties.com/

When I asked my mortgage company about this, they said that they wouldn't consider removing mortgage insurance based on market appreciation alone. We had to have proof that we performed significant improvements to the property in order for them even to consider it. But it is definitely something to be aware of!

I am looking to put together a list of properties in a Davis and Weber Counties in the Salt Lake-Ogden areas. I’m in need of a good list broker. Does anyone have any great recommendations??

We are finding success in smaller jurisdictions in Davis County. When I asked Kaysville City what their regulations on STR's were, they said, don't know, don't care.

Thanks for all the great input! You guys rock!