All Forum Posts by: Account Closed

@William Crutcher

Is there anything specifically you are curious about? We just went live with our Airbnb yesterday but in Bear Lake, it’s the Idaho/Utah border about 2 hours away from SLC.

I live in Salt Lake County. If there is anything you would like to know I’m happy to share!

@Jayden Boysun

Hi Jayden, If it were me I would keep the home and continue to house hack. I would then do a HELOC on the home to purchase a short term rental that will generate more income than a LTR or house hack. Obviously you would need to find a STR that would also pay back the amount of the HELOC and still cash flow. There are a lot of markets here that may be options (may) such as Salt Lake City, Hurricane (capture travelers to the national parks), Garden City (aka Bear Lake) or more expensive markets like Moab or Washington County (St.George). Or a market near hospitals to capture traveling nurses.

Or another purchase alternative is another Single Family Home or even Townhouse near a college and you can do a rent by room, depending on local tenants laws.

I am personally investing in Garden City for a STR.

Those are just my ideas…

@Samantha Prince. Hi Samantha, what area of Salt Lake County? Are you more by Salt Lake City? I can ask around for you if you have not found one.

You bet!  Ah, the seasonality of being around college towns definitely is a consideration.  Depending on the loan you get will have those requirements but a good lender will be able to really speak to that.  I have lenders I have personally and professionally used if you need anything...  Don't hesitate to connect and ask!  Where there is a will there is a way, just keep doing what you are doing and your plan will come to motion.

Hi Thomas!

You can find Duplex for 375k-425k in Weber County, a bit north from you. You are going to get older homes up there. Another way to get around finding a duplex that matches your budget, you can find a SFH with a Mother In Law and you can rent out the top and bottom floors independently to help you cash flow. You can also consider renting room by room, think of things like this near college towns. Or, find a home that has an unfinished basement that you can finish yourself (?) and add rooms to in order to possibly add equity. In Ogden you have Weber State University, but what about down in Provo (BYU) or down by you in Orem (UVU) or keep going south finding routes by colleges. Or find a condo or townhome (lower price point) that you purchase and then you can rent out the rooms by college towns (assuming you don't want to live there and can just rent out all rooms, you can start potentially cash flowing and building equity.)

If I were you I would first start speaking with a lender who can help you figure out what you need to get into property and at what price point, that will help you narrow your scope and timeline in a world of REI which can be overwhelming if you are not focused in the right place for you.

Good Luck!

@Matt Rice

I’m interested to connect!

@Andrew Alday

Hi! I’m from Covina too! Welcome to Utah next year!

@Lane Gneiting

Hi Lane! There are 2-3 of us meeting Saturday morning to connect for the first time. I’ll send you a connection and give you the details…. We would love to have you join us!

@Meagan Martinez. I would be interested!

@Sadierose Lemire. That’s very exciting, good luck! I can refer you to an agent through my broker. I am up north, we thought about investing in St. George until it skyrocketed. We ended up investing in a different area of Utah. Such a great area though, and hot! 😝. We can connect in case you need anything else.