All Forum Posts by: James Taylor

@Joe Au Thanks for the advice. What you're saying about STR confirms my own hypothesis about them. I think I'll try to get my start a different way, but good information for the future. I'm wondering what some of those other channels are for finding deals. I've heard of Direct Mail (which seems a little out of my league to begin with), driving for cash, and reaching out to property managers to see if clients want to sell. Is those in the genre of channels you're talking about? Are there any I'm missing?

@Hadar Orkibi It's cool to hear about your success doing long distance real-estate. It gives me motivation to look into it more. I went ahead and purchased David Greene's book. We'll see where it takes me.

@Dean Letfus I'm definitely wanting to tackle a more buy and hold approach. The Utah market housing prices are higher than I think I'll be able to afford right now, thought I think there is some cashflow to be had out there if you have the pocketbook for it. I'll start looking into finding wholesale deals. Thanks for the advice!

@Ryan E. Those are great suggestions. I've been wary of trying AirBnB, but maybe I shouldn't be. I'm stuck in the mindset that maybe Park City or Garden City would work for AirBnB properties, but is it a method that works elsewhere? Thanks for the reply!

@Hadar Orkibi Thanks for the review of the BRRRR methodology. Sometimes it helps to hear it put so straightforward and simply, so I really appreciate it. Have you ever done this outside of your own market? Was it a successful venture? Seems like for my first property it would be better to stay in my own market, but I'd be curious to know what you think. In Utah currently, everywhere seems to be a hot market, so the prices are quite high on properties.

@Josh E. Correct, I'm more wondering if it can be done here in Utah. I think what you're saying is what's leading me to ask this question in the first place. It seems like the deals that would work for a Brrrr are rare enough that it might not be worth pursuing since I'm just starting out. Which leaves me in a bit of a tough spot because I'd rather start small (under $100K) with my first property and do it in the Utah market I'm familiar with, but just checking MLS daily I feel like it will be hard find deals that fit what I need (especially before a more knowledgeable investor gets them first). That being said, maybe just looking for more of a turnkey rental would work better. I'm trying to figure out my overall strategy. Thanks for taking the time to respond, I really appreciate it.

Like so many other posts I've read in the this thread, I'm new to real estate investing and looking to get started here in Utah. I'm really interested in using a Brrrr approach to acquire a portfolio of rentals. So to begin I've been trying to review MLS listings daily and I just contacted my realtor to get Hot Sheets emailed for properties that fit what I'm looking for. I'm meeting with a lender who has his own rental properties to pick his brain a bit. I've also been reading/listening to BP and reading through some of the threads on here.

With all that learning and scouring of listings, I’m feeling kind of lost in the Utah market. The examples I read about don’t compare to the prices I’m seeing around here. So, I’m wondering what I need to/can do as a brand new investor to really find a deal that fits within the Brrrr strategy at my price point and can get me started. Even though I’d really like to start with Brrrr, is it possible to do in Utah right now? Should I be looking to get my start somewhere else?

Thanks in advance! Reading through the threads you can tell this is an awesome community. Also, in an effort to provide value for value, if anyone has marketing or web design questions, feel free to PM me, that’s my area of expertise.

@Jimmy Ready I'm just getting started in real estate investing, but we helped my parents (in their 70s) get their property on Cozyco and it's worked great. But like others are saying, it's more for payment processing. We also have younger (early - mid 20s) tenants for what that's worth, but I feel like it's worth training training tenants like Jeremy M. mentioned.