Investing in Real Estate: Strategies for Success in the Utah Market [PART 2] #wholesaling

Name: Investing in Real Estate: Strategies for Success in the Utah Market [PART 2] #wholesaling
Uploaded: 2024-07-11T15:00:34+00:00
Duration: 29 s
Channel: Nathan Payne
Description: In this segment of the Utah real‑estate investing series, Nathan Payne and a co‑host discuss practical rent‑optimization tactics for a multi‑unit…

11 Jul 2024 · 0 min

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In this segment of the Utah real‑estate investing series, Nathan Payne and a co‑host discuss practical rent‑optimization tactics for a multi‑unit property. They note that the current average rent is about $800 per unit, and they plan to raise rents to $1,200‑$1,250 for the two‑bedroom, one‑bath (2/1) units, with the single‑bedroom, one‑bath (1/1) unit targeting around $1,000. A key value‑add strategy highlighted is shifting utility costs to tenants, which can further justify higher rents. The conversation outlines the unit mix (mostly 2/1s with one 1/1) and how these adjustments align with the market’s low‑rent environment, positioning the property for increased cash flow.

And they're also not billing the tenants for the utilities, so that's something else that would, you know, add to increasing the rent.
That's real common, and that's a common way for people to be able to get some more value-add by passing those bills on to the tenants.
Right.
Tell us more about that value-add, and, you know, rents are low right now, you can raise them. What numbers are we looking at though?
So currently I think most of it's like averaging $800 a unit. And we can get them up to like $1,200, $1,250 a unit.
What is the unit mix?
They're all 2/1s, but one of them is a 1/1. Yeah, so it's gonna be like $1,200, $1,250, and one might be like $1,000 because it's the 1/1.