All Forum Posts by: Sam Newell

@Auston Horrocks welcome to BP!! I need to connect you with that guy I was telling you about!!

@Mitch Casey So Lehi is very very hard to find that type of a deal right now, and you're probably not going to find it on the mls or ksl or the other websites.  I have the mls set up to send me anything in a lower pricer per square foot but usually, by the time it hits the mls it will already have offers.  You'll need to find off market deals, and I would choose another area that isn't quite as hot.  For instance, Eagle Mountain, they're getting massive infrastructure from the Facebook Data center that's going in and they're getting a meat packing plant that will add 1,200 jobs. Cedar Fort will go up in value as well.  It's a hard task to find a killer deal, but don't lose hope, you just have to be consistent and look at a lot of deals and you will eventually find one.  I'm in Lehi, let me know if you need help analyzing a deal. I own 7 properties myself and also 208 doors in Dallas. Good luck!

@Suha Lingam I have sold over 45 townhomes in Lehi in the last couple years to investors and I own 4 myself. There are a few things like number of bedrooms, amenities, and of course how much rent you can get now and how much rent you can get in the future that will help you make a good decision. DM me and I'd be happy to share with you how my own rentals have performed in Lehi. Also, I may know of one coming up for sale that's already built if you're interested

@Nathan Marden I have house hacked 4 times now, just getting ready to sell the last one.  You can make a ton of money if you do it right. Duplexes are priced based on rental income, so if you fix it up and raise the GOI then you should be able to sell it for more than you're buying it. However, if each side rents for $1,000 and you pay $290k that's a pretty low cap rate. Personally, I won't buy anything under a 6% cap unless it's in a really really good area.  What's the area like? How much higher can you push rents? how much will you spend rehabbing?

Who in this group is in the Los Angeles area? 

Have any of you invested in the Boise or Salt Lake markets yet?  What has been your experience?

I’d love to meet up before or after this event tomorrow! I’m speaking about finding the best real estate investments in Boise and Salt Lake Valley to weather a potential dip in the market. It’s tomorrow at 6pm in Manhattan Beach, California.

I really enjoy helping others and adding value, I’m here anyways for the day so if you have questions about getting into real estate investing, or specifically about the Utah or Boise markets I’d be more than happy to help.

Feel free to reach out and ask questions.

Join me at Out of State Apartment Investing Mastermind - South Bay

Thanks all!

@Alexandra Fisher The better question you need to ask and then define is what are your standards and what kind of metrics are you looking for? I have minimum standards for my own investments and for my clients. We are investing in a few different parts of the country. We have some very specific metrics that we look at before we decide to move forward in any certain market. One metric that is very important is that crime is dropping, not going up. Boise idaho is the safest metro in the US with a growing population, that’s very hard to do. Salt Lake City has massive job growth, specifically tech jobs from california and seattle. We’re also currently buying 208 doors in Dallas, north Dallas is a fantastic market and the property we’re buying.

@Andrew Jackson As long as you’re getting a decent deal in LV I’d never wait to buy.  Remember, when you own a rental property, you get tax savings and most importantly you are gaining equity by having a renter pay down your mortgage balance.  There’s no guarantee that there will be a big dip, we’re still at a housing shortage here in Utah and most other markets.  You can never outsave a good market, and just inflation alone will devalue your money each year you hold it without investing.  Another option would be a syndication line the one I run, you get a 7% preferred return yearly plus 70% of the profits after that.  We buy very large apartment complexes that are the most “recession proof” investments you can buy.  Either way, sitting on your money is almost never the best option.  Good luck!!

@Scott Bowles he's in Provo but phone calls or video chats work just as well as meeting in person ;)

I use Karl Grimmett at Lunsford Peck, he works with average earners and high dollar clients as well.  He helped me figure out how to find more write-offs this last year since I had made more money and needed help, he actually found something I would have never thought of and saved me over $150k!

New - To Be Built- Fourplexes in an Exploding Market, 6.5% cap.  Boise Valley is growing through the expanding Job Market as well as how attractive it is to live there.  Whitehawk townhome fourplexes and duplexes are under construction and the builder is ready to sell all of them at a slight discount before they're built, once they're built pricing will go up as they're much easier to sell.  Surrounded by $300k homes, across the street from a grade school and just 5 minutes from amenities like Costco, Walmart, Hospital, Restaurants, Lake, & more.