All Forum Posts by: Joe Spillner

@Josh E. I've been looking into other markets as well but just need to get myself to pull the trigger. My biggest hurdle is that I'd like to manage my properties (at least until I grow my portfolio further). But at the end of the day, I will go wherever the deal is. 

@Nathan P. I've found that I can still find positive cash flow but at low cash on cash ROI. I purchased a property a little over 2 years ago in Utah county with a cap rate at 9-10% and cash ROI of about 13%. I want my cash ROI to be greater than 12% for all of my properties. Honestly, in my opinion, cap rates and ROI are a bit all over the board right now and it appears as though outside investors are coming in with decent rental rates but local or older landlords aren't raising rents. At the end of the day, I'm finding cash ROI to be closer to about 8% now which doesn't meet my criteria. Am I just crazy or have you been noticing similar trends?

Hey BP, looking for some opinions! I live in a rapidly growing real estate market (Utah County) and I'm growing my buy & hold portfolio here. However, the rental rates haven't quite kept up with the appreciation growth here. I don't want to speculate but all the signs point to rental rates rising in the future. So my question is, if you were in my shoes, would you 1.) buy in a growing market like this now with smaller cash flow (and ROI rates) with the assumption that rates will rise, 2.) wait for rental rates to increase before buying with the potential of purchase price continuing to increase as well, or 3.) move on to outside markets for buy & hold deals.

I know there are often deals to be made in any market (just have to find them). I haven't started marketing for off-market properties yet so everything I'm basing my synopsis off of is MLS properties. Ideally I'd like to stick to local properties if possible so I can manage them myself but I'm not opposed to moving to outside markets if the deal is right.

Hi BP Community,

I just want to introduce myself. My name is Joe Spillner and I'm a new investor in the Utah market. I currently own two rental properties (both townhomes) that I purchased in the last 1.5 years but I'm hoping to expand my portfolio. I've been listening to the BP podcasts and doing my homework on various REI topics but I still have a lot to learn. Since purchasing these two properties, I have gone ahead and obtained my realtor's license and I'm currently searching for my first flipping project. I work full time as a tax manager (for now...) but I hope to become more active in this community and look forward to networking with you all.

Thanks!

Joe