All Forum Posts by: Joel Brown

Taylor, may I ask what the price per sq foot was on your duplex? I'm looking in Utah county and have a few condos but don't know what to expect for the price of a duplex in Spanish Fork/Mapleton/Springville is. Would you be cash flowing if you were renting both sides (instead of living in the other side)? Looking for a 15-20 year old build so it's less maintenance in an area where I could rent both out and cash flow $300-400/ door, so would probably need to be $100/sq ft or less to buy. Is that reasonable close to market assuming I purchase outside of Provo or Lehi?

I have the same interest in doing short term in Provo.  I'm a little concerned about having the time to manage it as it would be turned every 4 or 5 days a lot a time.  There a a couple of great podcasts on Bigger pockets and other spots to learn more (https://www.acast.com/realestateinvestingforcashflow/ep-140-building-massive-cash-flow-with-short-term-rentals--even-if-you-have-no-credit--little-cash-to-start).  I would be interested in partnering with someone who has experience and success in this area to make the learning curve faster. I'm sure one holdup would be making sure that the property is zoned for nightly.  This is a problem I have encountered in the St. George Market (which I am looking to increase my portfolio there with nightly/weekly).

Multi Families are really hard to come by in Provo (and most of Utah County).  They sell at a premium, and are hard to cash flow as rentals from the numbers I have ran.  I own 2 condos that are BYU approved and I keep my head above water with those. I'd love to house hack but the market is really picked through close to BYU as everyone wants to do the same.  I think they are there, they just get bought up quickly and don't expect any bargins!  I have found condos to do OK, just not as well as in other areas.  I am looking to add a few more as I don't see the market ever going away or down. 

Anyone invest in tropical climates such as St. Johns or St. Thomas?  I know you'd have to have a great team in the community that could help as you wouldn't always be there. It would be fun to do all the research and then stay there a couple times a year.

Has anyone invested in condos (or houses) in the caribbean? I'm leaning towards condos as the HOA usually covers upkeep and lawn/pool/tennis etc. Some even cover water which can be expensive. In past post no one has responded but I'm sure that some on here are investing in vacation markets in tropical areas.

I'm thinking about the virgin islands (British and US).  Someplace I can furnish and stay there 3 to 4 times a year when the weather sucks in Idaho.  I could block it off a month before when it is not rented and enjoy the investment.  I'm certain there are places that would cash flow and still be able to use a lot through out the year. Plus your trips would be a writeoff when legitimate maintenance and management issue need your attention!.

Any thoughts

I'm looking to self manage my Single family home in St. George, but would like to have a list of preferred repair man/women if the need arises.  The home is 7 years old and in great shape so repairs should be minimal for a while.  I'd like to be ready though as I currently live 12 hours away.  My son will be managing it, but he is a couple hours north as well. I have friends a block away that will be cleaning the pool regularly and available in case all hell breaks loose, but I'd like to keep them as friends and not have them involved.  Any locals with good recommendations? 

Easy, don't invest in the bigger metropolitan areas, but the smaller markets 50-200,000. Lots of deals there, and America is leaving the city for the more rural areas.  Mid size is booming even if the large cities are busting. 

I think it would be awesome to buy a rental in the Caribbean. Someplace that I could visit at times and spend a month or so in the winter when Idaho has a foot of snow.  I could see purchasing a place with 3 or 4 units and the ability to have a couple long term tenants and a couple shorter term tenants. Maybe even rent it on VRBO or airbnb.  I'd have to have some local contacts to clean and help manage and be the "boots on the ground". It would be awesome to get a fixer-upper and spend a month working on it with my son.  Anyone with experience on a specific island or  words of wisdom?  All I need is something that could cash flow and not be a money pit.  I'm not necessarily looking for appreciation as much as gaining equity through rent, and having a place to visit a couple time a year. Cash flow would be a nice bonus. Right now I own a couple rental condos, a business building, and a grade a single family all cash flowing.

An Amati re might get a passable outside house shot but lots of study and $3-5k of equipment is the only way to get good inside shots. The $200 you saved will cost you $5k in missed exposure in the long run. I'm a semi pro sports photographer and studio photographer but indoor real estate is outside my comfort zone even with 10+ years of photography.

You should always be able to roll closing costs into the mortgage unless the appraisal is to low, or the loan amount would be higher than you are approved etc. I'm sure it helps real estate appreciate as all the buyers pay for the house and the closing costs in the loan and it ups the "comps" 2-3%!