All Forum Posts by: Logan McKay Zylstra

You make really good money part time as a waiter which will be key to getting loans as you start out. I would hold onto that job for as long as possible.

If I were in your shoes, I would put a mortgage on my house and use that money to buy one or multiple properties. I personally like the BRRRR method.

Best of luck!

He’s a local “guru.” I can’t speak on whatever he is offering because I have no personal experience with him. 

With that being said, I would recommend being wary of gurus in general.

I don’t. Although I try to do eco friendly things to my personal residence it doesn’t help my returns to do eco friendly upgrades to my properties.

Banks are still lending on beach front properties without hesitation so I it is safe to say that for the foreseeable future that this shouldn’t effect where I decide to invest.

I would recommend selling it to him at market rate or list it on the open market (I would certainly get a realtors opinion on the price before you agree). Most realtors would be happy to give you their opinion on price free of charge, but even for $100 or $200 it is well worth the investment so you don’t loose out on thousands or tens of thousands of dollars.

I don’t think keeping it as a rental and letting him live there would be worth the potential for a future disagreement.

I would check Task Rabbit.

Same thing here in SLC. HOA's are their own beast and not worth the hassle. I would reach out to an agent and ask them which buildings don't restrict rentals and ask them to set you up for alerts on those buildings.

Take an agent out for coffee or ask your current realtor if he or an agent at their brokerage sends out weekly or monthly market updates.

I certainly understand your predicament being in Utah as well.

I would cash out on your current primary. Either 1031 out of it or eat those capital gain taxes. Utah will only continue to appreciate, increasing your tax liability if hold it. (Don’t forget about increasing your cost basis with improvements to your primary - could save you a pretty penny). I would use that equity to leverage myself into something bigger. 

I definitely support you idea of house hacking the duplex you are building.

I like screening tenants and creating a listing via rentler. I also post on Zillow and FB marketplace but do the applications/screening through rentler. 

Congrats and best of luck!

You will need to partner with someone who has the money for this deal.