All Forum Posts by: Josh Brimhall

@Jason Terry Hey Jason, thanks for the input. Its awesome to see so many people close to home on here!

The whole state has been appreciating like crazy! I guess my concern is when does the bubble burst? I can't seem to wrap my head around a home in layton or Ogden being worth half a million dollars from here on out. I tend to think once the demand is met, once the market is able to stabilize that home values will drop.

The more research I do, I actually lean towards a heloc or refinance. I guess it depends on what we are going to do with the money, and how much a bank would loan out.

Would be great to link up with like minded people. I will shoot you a message.

@Ryan Gross Hey Ryan, thats exactly what I have been thinking. I love the idea of investing in state but it just doesn't make sense in this market. That is why I have been drawn to airbnb rentals. Much higher cash flow opportunities, but I'm assuming more risk? The problem is convincing my wife to be onboard with out of state investing it makes her more nervous than me.

@Salvatore Lentini Me and my wife are new to rei. We are looking to buy our second property for long term rental (mixed from traditional rentals to nightly rentals). We are looking to scale to 10 doors in 5 years. We have a property in Utah that in the last year has increased so much in value that we are sitting on around $200k worth of equity. Should we sell now and use that money to scale other rentals quicker? Or keep it? It is currently earning about $800 a month after expenses.

@Logan Jones we have also considered a cash out refinance. Thanks man! I see your in Ogden just up the road from us in Syracuse.

@Bob Okenwa I agree, the math does make sense. My only hesitation is that we prefer to own properties close to home and I worry about when we could get another property in Utah again.

Me and my wife are new to rei. We are looking to buy our second property for long term rental (mixed from traditional rentals to nightly rentals). We are looking to scale to 10 doors in 5 years. We have a property in Utah that in the last year has increased so much in value that we are sitting on around $200k worth of equity. Should we sell now and use that money to scale other rentals quicker? Or keep it? It is currently earning about $800 a month after expenses.

@Brad Hammond I will run the numbers again. I am in the beginning stage of researching the properties so those numbers may very well vary. I was just hoping to learn how much others are paying above and beyond the mortgage.

@Nathan G. Thank you! I will post it again there.

@Brad Hammond we are looking in the sunny state or Arizona. The occupancy in the town we are looking at is on average 70% according to airdna. The mortgage on most of the properties we are looking at is about $2500 a month. I think realistically we could book for $250 a night. Is $33k a year enough to cover property management, cleaning, fees etc and still make a profit? Ive seen management companies ask 10-30% alone.

We are looking to buy pur first rental in the few months. We plan to do short term rentals. When looking for the property how much of a margin to you need to be profitable (mortgage vs cash flow). What is your typical cost to operate?