All Forum Posts by: Simeon Miller

@Kyle Paczesny I have been investing in Fort Wayne for a few years. It has been a great place to invest.

@Dwayne Estiverne Can you be more specific? As I heard on a podcast lately you need to have cristal clear criteria. Once you have that you may get more advice as to where would be good for you. Also, I would recommend getting a good investor-friendly realtor like @Vicki Roy to help you.

@Kevin Sollenberger I have thought about selling my $600k+ house in the SLC market and renting to free up the equity to invest in a higher cash-flowing market. The downside: if I had done this 2-3 years ago when it first crossed my mind I would have left $200k of appreciation on the table.

What field is your W2 in? Could you get another job that would pay better? Everyone is hiring now.

Could you house hack to get started? Most of the houses in this area have basements that could be converted into an apartment.

Zachary,

Outside of your HOA have you checked into the city's regulations. I know that most of the cities on the Wasatch Front have ordinances against STRs. It sounds like you have a hard sale to make. Hope you can get something figured out and that the meeting goes well for you. Keep us updated!

William,

I live in the SLC area but do not invest in STR yet however, there are some things I would look into. A lot of the cities in the SLC area have ordinances against STRs however the State of Utah has legislation in how cities enforce these ordinances making it more difficult for them to enforce but not impossible.

Feel free to message me for more details.

Thanks,

Simeon

@Chris Hornbeak

I would also check into city ordinances on sort term rentals (Airbnb and vrbo) most city’s do not allow them so if you are planning on that strategy I would suggest that you have a plan B.

@Val Ault

Make sure to call the city and make sure that it is a legal basement apartment. Most city’s in this area have restrictions on ADUs.

Have the seller remove the tenant that you want to occupy their unit before closing.

By all means make sure the tenant that is staying is the type of tenant you want. I would not buy it without payment history.

@Jeffrey Paul Ferlo

I have been asking that same question and I have not seen anything. Because of that I am thinking of starting something. Right now it would probably have to be virtual but would be better than nothing. I will be sure to let you know if I do something.

@Forrest Faulconer

What about buying and doing the rehab before you move in? Do you have access to flip funding?