All Forum Posts by: Yuki Inui

Definitely recommend Kevin Pinder (Provo Land and Title)! He and his team are extremely knowledgeable, experienced and reliable. I've also used them for 1031 exchange transactions. 

Hi Oscar, I think most of your answers have been answered, so I'll keep it short. 

- Definitely recommend cozy.co 

It covers a lot: listing, application/screening, rental insurance, collecting rent, fees & deposit payments online, and so on. 

- Check out local attorneys that specialize in eviction law,and see if any of them have "bullet proof" lease forms. (I'm in Utah and use the free forms provided by Utah Eviction Law)  Local Apartment Owner Associations would most likely have good resources and keep you informed of laws that you need to be aware of. 

- Marketing: definitely list as soon as possible. Zillow, Facebook, local Craigslist equivalent sites. Take good pictures, clarify the lease terms and requirements as detailed as possible in the listings. Helps weed out applicants and eliminate unnecessary back and forths that take up a lot of your time. Not sure if it's possible with the tenant still living in it, but if you can, definitely shoot a walk-through video and post it or send it to the interested parties before scheduling a showing, so you're not flooding the current tenant with random showings. 

I hope this helps! 

Hi Chase, I have coached and helped many starter and seasoned investors connect with local specialists who specialize in real estate investing here in Utah,  including lenders, title, tax saving specialists, developers, builders, contractors, inspectors, eviction attornenies, and much more. I

I'd be happy to help you and direct you to the right direction!

Just a quick update. 

We just went to see these awesome contemporary 18plexes (1, 2 & 3 bedrooms) in Vineyard (right down the street from where we live, and we LOVE living in Vineyard). One of the very few new (pre) construction multis available to individual investors here in Utah county. Purchase price $3.1M, $500k down, cap rate in high 7%. Building time is 12 months. Really cool design, floor plans and the club house will have a pool, hot tub, private entertainment area and a huge fitness room. Kitchen and bathroom have granite countertops. Walk-in closets. Private patio. The builder/developer clearly cares about the quality of the finished products and the long-term effect, and attention to details is pretty impressive. They have built hundreds of high quality townhomes in the area. In-house management available for a very low rate (4%). There is only a few available buildings left, without much of marketing effort. 

The pictures are of the ones under construction, they will add some cool colors to the exterior, but nothing crazy so it will still look modern and not dated 10 years from now. I have the market analysis on this if anyone wants it. PM me :)

Here's some more market update :)

- Adobe is doubling the size of their office

- Amazon is opening a facility and bunch of jobs (same day shipping...! Yes!)

Provo, Springville, Vineyard: 

Rumour says BYU is planning on opening a medical school in between Provo & Springville in the next 10 years or less. Springville is still cheaper and undevelopped, yet it has an almost guatanteed growth projection because of the geography of this market; north is developing fast and getting congested, so the growth will naturally have to expand to farther south. 

Draper (Bluffdale, Sandy)

the city is moving the prison within the next 10 years, rumor says Google is looking at the post-move site

Cottonwood Heights, Holladay, South salt lake area:

The 4 big ski resorts will be connected with a lift in the next few years. Not many people know about it. The RE in the surrounding areas will appreciate quite a bit once that happens. 

Hi guys, just a quick update on the Utah market. 

So as I have mentioned in my past comments that my partner and I have invested in Provo (a fourplex), Vineyard (a duplex & a condo) and Lehi (a townhome), all brand new. Right now we have a single family home being built in Bluffdale (adjacent to Draper) using a home owners loan. We just heard there is one pre-construction duplex available in Herriman, a few pre-con fourplex left in the last phase of this new development in Herriman that just released a few weeks ago. 

For our clients who have more upfront cash we have been looking into a couple bigger pre-con deals, one in Vineyard (18plex, 3.2M, urban apartments) and one in Springville (20plex=5 townhome fourplexes, 3.5M) both around 7% cap rate. 

If anyone has any question about these deals or the market, please let me know :)

Hi @Shazia Chiu 

Good to run into you on BP! 

Sam and I HATE cold calling, or any other orthodox sales techniques, mainly because we are painfully aware that we are not the type of people who would be a good sales person if we tried to be one, and we hate it when someone tries to sell something to us. We personally don't use any lead generation services, because what we specialize in does not fall into the regular residential real estate category, as most lead generation services don't focus on investment properties/investor clients. We have tried several in the past and none of them worked out for us. Because the clientele we want to build is strictly investors, we realized it is much more efficient and easier to just appeal to a certain group of investors (BP is a great place for that) who are already interested in what we do (in our case, our niche is new/pre-construction properties) than picking up random leads we know nothing about. That is why we focus on creating our own market by utilizing online marketing (Social network, website, blog, newsletter, BP, etc). We spend almost no money on marketing, even though we solely rely on our marketing as the source of business. I love working with investors we meet on BP, because we know they are serious and most of them understand the value of the service, expertise and knowledge we offer as professionals. It just makes our job so much more enjoyable to help fellow investors that we know we can be a great help to, rather than trying to sell our service as a real estate agent. 

We focus on sharing our own investment experience, giving advice, market knowledge, connecting investors with local experts such as lenders, title, inspectors, tax specialists, credit repairs, builders, etc, and we don't do that on referral basis. We just share the contact of the people we know are the best and trustworthy from our own experience working with them, and that's what most investors are looking for. The more connections you have, the better you can help your clients. You become the main source of knowledge and information that they don't have access to, and it costs them nothing to work with you (unless you are listing their properties). We are not selling our service, we are offering something extremely valuable for free. We are putting several properties under contract every week this way :)

I hope that helps. Let me know if you want to do a coffee or lunch sometime :)

Hi Kyle, I live in Provo and work with an investors agent. We specialize in new/newer construction rental properties and also manage properties for our investor clients. Let me know if I can help in any way :)

@Teri Feeney Styers

Thanks for sharing!

Hi peeps, I am a real estate marketing specialist based in Provo, Utah. My partner (investment real estate professional) and I are also investor ourselves and own a few brand new construction multi and singles in the tech boom Silicon Slopes area, and it has been pretty successful.

Anyway, I am doing some research on the types and demographic of different renters in different types of neighborhood.

Will you guys help me by sharing your BEST and WORST experience? 

 1. Type of renters you have dealt with? (Student, young couple, big families, job type, etc) 

2. in what type of neighborhood (A-D)

3. What kind of property (fixer-upper vs new build, apartment building, SFH, duplex, condo, etc)

 Thanks guys, appreciate your help and input in advance!