“Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.”
The buying and selling of real estate investment properties in Sanpete County is always at the forefront of my mind, for personal and professional reasons. Any decent investor understands the large number of factors you need to examine before purchasing a property.
Unfortunately, all those factors are beyond the scope of this article. Instead, I would like to focus on the opportunities Sanpete county can provide, based on my personal experiences.
Why Invest in Rental Properties in Sanpete County
Sanpete County has traditionally had a lack of rental properties. In fact, unless you are a Snow College student, finding a rental can be quite difficult.
My family has been investing in income properties for many years, so I have been exposed for a long time to the benefits of becoming an educated real estate investor. Once I moved to Sanpete, I saw the opportunity to invest in properties myself. I currently own three homes, two of which are rentals that have never been empty for more than a week.
I receive inquiries about rentals in the area almost every day. As a Realtor, I think Sanpete County offers a fantastic chance for former renters to become homeowners. But not everyone is ready to make a purchase and not everyone is in a position to, hence the need for rental properties.
Due to the lack of rentals in Sanpete County, we find ourselves in a position where investors are filling their properties quickly. Just as in any market where demand is high and inventory is low, there is money to be made on rental properties.
A Primary Residence with Rental Income
Did you know that many single family homes for sale in Sanpete County can be easily adapted to become a partial rental?
Many homes in the area are sold with separate livable outbuildings or separated basements. These homes offer the homeowner the potential for a rental income source. Renting out this extra space can often help offset the cost of buying a new home. If you are interested in purchasing a home that has space for you and a tenant, please contact me so we can look at all the suitable options.
Opportunity To Resale or Flip a Home in Sanpete County
Refurbishing to sell, or flipping, a home can come with many pitfalls, so opportunities should be examined very carefully from every angle. After perusing the MLS listings for Sanpete County, I’ve noticed there are some great homes that are undervalued because of the need for updates or refurbishing.
This presents a great opportunity for property investors or regular home buyers. With some smart upgrades, the value of some of these properties could soar.
Summary of Investment Properties in Sanpete County
Many factors go into finding a good investment property, such as property values, rental demand, economic growth, location, community, job growth and more.
You should know that the search for a great investment property starts with research and consideration of the big picture. As a Realtor that understands the market here in Sanpete County, it is very important to work with someone that understands the investment property selection. Let me help you find the property that is right for you!
If you have any questions or want to talk about investment properties in Sanpete County, let me know in the comments.