All Forum Posts by: Jason Hendrickson

Yes. I got my license specifically because I'm an investor. I don't really see the downsides. I'm sure the laws vary by state, but I don't think they're particularly onerous anywhere. In my state you have to disclose you're an agent and you can't act as dual agent in a transaction in which you're a principal. The upside is you save on commission on every purchase/sale you make for yourself, and along the way you'll run into other investors that you might be able to represent and make a bit more $ on the side.

If the $1,100 is going only toward principal then there won't be any taxable income. If some portion of that $1,100 is interest then the interest will count as income.

Depends on what you're looking for. I have properties in Sugarhouse, downtown SLC, Holladay and Sandy. Each location has a different mix of renter demand, value appreciation, ease of management, etc. What are your primary investment objectives? 

Magna isn't a county, it's a town in Salt Lake County. If I were an investor from out-of-town I'd stick with properties closer to SLC proper since it'll be easier to find good PM companies, renter demand and rents will be higher and appreciation will be greater. 

A good deal is a good deal regardless of what the market is doing. You are interested in good deals, not waiting for the market to crash. It cuts both ways, too. A down market will suppress rents and increase vacancies. 

If you sell, and you liked the agent who sold you the house, go back to him/her and ask if they'll list it for you at a discounted commission. Some might not be able to simply because of the brokerage they work for, but I've had agents list my properties for 1% commission on their end in situations like these. 

My first thought is "who are you going to have clean it and do maintenance/repair?" Seems like an inconvenient location for something as hands-on as a nightly rental.

 Good point. Perhaps I'd need to be elected POTUS for this idea to work out to my advantage.

Are you debt-free? If not then put it toward your highest interest rate balance.

Look at the list you made and ask yourself if doing those things is how you want to spend your free time, and if it's how your free time is best spent.