All Forum Posts by: Steve Theobald

A 3 day inspection period is almost impossible if you don't have an inspector or General Contractor ready to go.  But it is doable.  Are you ready to pay $250 to $350 for an inspection?  Are you confident in your rehab costs, or do you need the contractor too?

The Utah market is so hot that the seller doesn't want the home off the market very long. I work mainly with investors in the Salt Lake area, and I'd be happy to review all your numbers at no obligation. 

Sean, great job on the house hack.  This is the perfect story that I am trying to teach my clients.   I just wish there were more duplexes available here in the Salt Lake area.

Success in Memphis!  You will do great.

Great insights @Account Closed.  Keep 'em coming!

@Andrew McFarlane I love playing with the numbers.  Here is an example of what I like to do:

I have a client who asked me to compare Tooele with northern Utah county and southern Salt Lake county. 

I was actually quite surprised with the price performance of Tooele.  It looks like Tooele is holding its own against the other two areas, with the highest growth of 2014, 2015, and 2016:

There are lots of agents who like to play with numbers like I do.  Find one and show him or her that you are serious and they should be willing to do lots of hunting for you and along side you.  (Do your own hunting too!)

And even better, get your own license! MLS access costs me $40 per month and Salt Lake Board dues are about $750 per year, but the ability to get my own data WHEN I want it is priceless.

Thanks @Rebecca Belnap, and @Becca Summers.  I am trying hard to find deals for my clients, but I am currently not having the level of success of the past years.  Yes, the market is tight, but I continue to believe that the deals are there.  So I tell everyone I talk to to try to find (make) their own deals by contacting owners directly.  @Gus Alonzo, we can go over your objectives I will help as possible.  I work in 5 local counties and just closed my 110th deal (5 years) as an agent working primarily with investors. 

@Becca Summers

Are there any Utah or national lenders who will lend on "modular" homes used for rentals?  (Not "manufactured" homes.)

Modular homes are built on foundations, with various "modules" brought in on trucks, and generally look like ranch style homes.  Some consider these "stick built."

"Manufactured" are completely manufactured off site and brought in, and are generally mobile homes.   

Thanks

My post on this very topic was a Bigger Pockets "Editor's Pick" for a few days. My contribution is at the link below.

https://www.biggerpockets.com/blogs/8070/53499-squ...

I have a client looking for some help on a rehab in Provo.  

Any recommendations for a Utah county contractor who answers his phone and knows how to clean up after himself?  

(The quality of work is a close 3rd after those two vital things, LOL).

Thanks

James, the market is tight in Utah right now, but there are still options in both single family and multi-family rentals.  Are you looking for turn-key properties, or are you willing to spend 10k to 30k to get them rentable?

Zack, this is a great offer you are making!  Let me know if you don't get any responses in the next 48 hours, and I will be happy to send your message out to my list of new (and experienced) Salt Lake investors.