All Forum Posts by: Sam Levin

I just noticed this Provo forum.  I work at a brokerage in Provo and we have triplex and fourplex options that are new construction and pre-construction. Cap rates range from 6.5% to 7.7%. Please let me know if you would like to see more information about it.

Hi Cody. I am an investor's agent in Provo who specializes in multi-family rental property. At the brokerage where I work we have hands down the best line of investor-centric (tm) triplexes and fourplexes in the state! (seriously) I hate to risk sounding like a sales guy but you do not want to make your first income property investment without looking at our developments. 

I'd be happy to send you some data sheets, which I can do once you accept the "connection request" I am going to send you.

Hi Brandon. If you are willing to consider out of state multi-family investing you should look at what's going on here in Utah County. We've got new construction (2015) beautiful fourplex townhomes that are fully occupied and run at a 6.7% cap rate. The pre-construction options include triplex, foruplex and twelveplex options that will return a 7.7% cap rate upon completion.

Either way with our in house property management team (cost already included in cap rate calculation) you don't have to do anything but get your check in the mail for the positive cash flow every month. There are waiting lists of renters here already and the projection is for new renters to outpace new rental construction 2 to 1 over the next five years!

I have California based investor clients buying these right now because they are fed up with the high prices and low cap rates out there. If you would like more information about that let me know.

I think this is where you need to go with this:

http://www.provo.org/provo311/licensing/rental-dwe...

I hope that helps.

I'm sure I will butcher this, since I just learned it recently myself. It refers to an investor who buys a multi-family dwelling that they will live as their primary residence and rent out the other unit(s). This allows the investor to utilize low down payment loan options instead of the investment loans that typically require 25% down. 

Good call Alexander Stephenson. I wish I was even remotely as smart as you when I was young. I would be a multi millionaire by now. If you become discouraged by the high upfront costs and low cap rates in California don't give up! Find the hidden jewel property that others overlooked because it's not the sexy option, or look at out of state markets that are stronger (like Utah). You can't hack out of state, but if you hack into a crappy market/property locally.....

My advice to you would be to get your foot safely in the door of income property as soon as possible. By safely I mean don't overextend yourself when you buy, and BUY "RIGHT", meaning don't get in a hurry or get too excited about something that looks good and end up picking a lemon or just overpaying for something good. In my experience the best way to go is new construction multi-family property that is managed well and in an area where vacancies are slim or none. It's no coincidence that this description reflects the product line I sell here in Utah County. I chose to sell it because it's such a win for the investors who buy it. I don't have to worry about hidden repair costs and we have no vacancy problems here.

Many people get into investing in rental properties and ruin their own lives. Don't be one of them. Buy something newer, and screen your renter's like you'd screen a business partner that you just met! You're welcome :)

I think I have sent all of you a message and/or connection request now. Please let me know if you didn't get one. I look forward to working with you!!

Thanks Brady. Now that I am finally back in front of a desktop for a few hours I can attempt to get the information to you and the rest of the interested parties.

I inquired with BP support on how to best send PDFs to you guys. They have responded and informed me that there is no way to do so without "connecting" in BP with the recipient. I believe I sent all 4 of you connection requests earlier today (working from phone then). I will go back through and send or re-send them all now. I am sorry that there isn't a simpler way. Hopefully you all can just click on my picture, get to my online profile, and have access to my contact information. I can't send it through these posts.

Hello Remmy, Brady, Mark and Colin. I'm so happy to see that you are all interested! Sorry for the delay but I am installing a built in desk in my new office today. I would be happy to send you the information on our products. We have fantastic pre-construction options and numerous pocket listings on resale of completed new construction. I will be able to do so after lunch. Thank you!!