Hello.
For the past couple years I have looked at investing in some real estate. I believe I am in a position now to move forward. I am trying to find somebody who might offer some assistance, guidance, and input. I am new at this.
I am looking for somebody who is familiar with the Utah County market, particularly Provo city and who is also knowledgeable in investing. (My mom is a realtor but in California and she does not have expertise in investing.)
Does anybody have any suggestions for where I might look for some guidance?
Thanks,
Thomas Alvord
Thomas,
Welcome! I strongly suggest you find the forums of topics that interest you and read EVERY post in those forums. I started at the oldest post and work your way to current ones. It’s pretty easy to keep up with the new ones. You’ll learn a ton just from reading here. I also suggest you take some notes along the way too. You didn’t mention what aspect of investing you’re interested in. If you’re talking about being a Landlord, we generally evaluate properties here based off the 50% rule which means all your operating expenses minus your debt service (loan payment) and cash flow over time will run approximately 50% of your monthly rent amount. This topic has been discussed at length in other threads so you’ll find plenty about it.
I can’t recall any regular posters here being in your area. To learn about property values in your area, start looking at as many houses in your target price range as you can. You’ll start to see ones that are priced better than others. Same goes for rent amounts. Look around at what people are asking for certain sizes and quality of houses. Has the rental been on the market for a long time? Just because someone is asking $750/mo doesn’t mean it’s worth it.
Here’s the link on this site for REI clubs in Utah:
http://www.reiclub.com/real-estate-clubs/Utah.html
You can find others under “Investor Resources” on the left side of your screen.