All Forum Posts by: Douglas Larson

A real estate agent has to hang his license with a brokerage. The Broker will definitely have opinions and input on what's ok. Some people in the real estate profession question if wholesaling is even legal or should be. There are definitely ways to structure the contract and all marketing materials to comply with the letter of the law. For instance, you wholesale a contract, not a property. Especially as an agent, you cannot market a property you don't own or have written permission to advertise.

You have much to learn young padawan but i think the force is strong with you. Great success you will have!

And please put me on your buyer's list!

Too True! Thanks Bruce. I always tell investors that if you think "there are no deals," you aren't doing the right things to find or create deals. Networking with agents and wholesalers is the most effective type of "finding" right now for my business model. Some people send letters, Some people make offers only on MLS peoperties and some do auctions. All of these can work but whining and standing on the sidelines never does.

Thanks @Yanis P. You say you are doing business in Utah? What are you buying/selling/renting in the Behive State?

Hello @Andrew L. in Sandy!

Yes, the market along the Wasatch Front is tough right now. Finding a good house-hack might be very difficult if you are looking at a properly zoned duplex, triplex or 4-plex. However, if you can find a decent SFR for about $250K that would allow you to live comfortably in the walk-out basement and rent out the upstairs for $1300, you will have a very small monthly liability. These kinds of homes are fairly common if you are ok with West Jordan or Taylorsville, instead of Sugarhouse or East Sandy.

I only know 3 people associated locally with Renatus, so it's a small sample size in an isolated market. All 3 are nice guys, but better talkers than do-ers. All 3 have yet to make back their big "investment" in education. A lack of education can really cost you, as David D. mentioned above, but let's not pretend that a 20K investment with Renatus is any guarantee of success. The best indicator of success is intelligent, tenacious effort. The same people who find success with Renatus can and probably will find it with BP podcasts, books and forum interaction, combined with local REI club networking.

Have fun and make your own luck!

My 2 cents . . .

I have owned several properties in Hawaii, San Diego and Park City, UT. Vacation rentals and mid-term rentals, especially long-distance, are tough. My advice is to find some good 3/2 SFR rentals within 30 miles of where you live and let the cash-flow pay for your vacation to ST. George or Bermuda or Alaska every year!

Aloha Caroline.

Only you will know what's best for you but I will throw in my 2 cents.

I have lived in some great places including San Diego, Oahu, Maui, Western Colorado, Minnesota, and a few cities in Utah. I have owned investment property and house-hacked on Maui (5 homes), San Diego ( 5 homes - the most recent flip was ), and about 75 or so homes and condos in Utah. I also speculate on a lot of land in Utah. 

Here are some things I have learned:

1. You can find good opportunities anywhere but enjoying where you live is crucial.

2. Managing rentals more than 30 minutes away is difficult, especially for newer investors.

3. House-hacking is a great way to start investing.

4. Single family homes are the easiest to sell when you want to or need to. 

5. You are not "throwing money away" if you just want to rent for 6 months or a year and try someplace out.

Hope that helps!  Have fun!!!

I know Park City very well. I have owned about 15 properties there since 2005. None have had great cash-flow except one ski season I rented a 4-bed house to employees from the resort. My gross rents were $4k per month for about 5 months....and I got free ski passes! 

I could get into all the do's and don'ts of property management with seasonal rentals as well as the supply/demand argument for price appreciation in Park City, but instead I will cut to the chase and just give you some advice: Pay cash for one or two great rental properties close to home and use some of the rental income to pay for your ski vacations every year! Less headache and more fun!

I agree with @Jordy Clark...

Keep that condo and rent it out. Find another home to house-hack and repeat that every year or so for the next several years. As long as they cash-flow you'll be sitting pretty in a decade with several properties that your renters are paying for!

oops...12-month membership.