All Forum Posts by: Jay Lalik

I am re-reading "Meltdown" by Tom Woods.  Wondering the same thing.  Super hard to predict timing of a collapse or downturn.

I am looking for a 4 plex in SLC. I will owner-occupy with my wife. I have a VA loan ready to go, I just need a deal.

I know the 2% rule applies to rents. The nicer units that are currently available on the MLS on the better side of the SL valley (east side) seem to have no better rents than those on the west side, even though E side units are $550k and W side units can be had for $370 - $450k.

It would be nice to make an immediate financial change for the better (townhouse we would sell costs $1100 mo inc. HOA) but long term would you buy in a better area and gradually force appreciate the property while raising rents?

The cheaper areas I am looking at are not slums, but they aren't as nice as the E side properties. Finding renters isn't difficult in the valley as a whole.

Any suggestions on whether to pay more or go for what looks like a value deal?  (Any UT peeps know of any off market 4 plexes for sale?😁)

Cool.  Thanks.

Just noticed I posted this in the wrong forum.

Long story short- I tried to buy this house as an investor and then tried to list it as an agent.  The lady is a real piece of work and was offended with my "lowball" offer of $120k. Another agent is listing it.He held an open house and I went as it is a 2 minute walk from my house. He was disinterested because that house won't sell at the listed price.

At the open house I saw that a 5 foot crack in the wall had been filled in and painted.

The damage is not on the owners disclosure.  I feared that it could have been a foundation issue when I walked and videoed the property before I made my initial offer.

Should I tell the agent about this? Do I have a duty as a Realtor to do so or is that overstepping my bounds?

FWIW she is listing a 2000 sq ft 1953 rambler that needs a full rehab for $250k, the comps barely support that in good shape.

I am not 100 percent sure. I guess I will find out soon.  If I don't set a call back by lunch I am making one to the daughter (who is apparently handling everything for her mom.)

I have a few options on this one. Flip, wholesale, or list as an agent.

A flip makes me a bit nervous as I have mon-sat Nat Guard training starting in July.

My wife and I got info from the government site.

We knocked on the neighbor's house and she was the sweetest lady.  It turns out she and her husband lived in their house for 65 years and the house in question was built by them in 1953. 

The lady knows the owners personally and she says the owner is looking to sell.  She is expecting a call from the owner's daughter tonight and will pass on our info.

I'm pretty excitied.

I have a 2nd address now.  I'm getting somewhere.

You guys rock. 

I can't find any info about contact information regarding the owner of a house I want in Taylorsville. (No I'm not posting the address.😉)

All I have is the address of the house. I don't want my letter to hang out with the dozen newspapers on the porch, if you get my drift.

What do you guys do to find owners of homes like this?

I've been on 8 deployments.  I wasn't "living" in Kuwait or Uzbekistan, I was only deployed there.

My home of residence was stateside.

I'm doing the VA 4 plex thing right now.

As the above post says, it may be difficult to do this now unless he is married.  If he is single, he can do it when he gets back and if he is deployed again his "residence" is still one of the units in the 4 plex.