Spending $100 Million on Real Estate: Salt Lake City, Utah [HouseHack Trip 2].

like it here okay let's go covered up

car broken car window guy's got a shop

in his garage nasty water heater sitting

on the side RV on an original driveway

uh nasty old pickup truck on the lawn

everybody's got a pickup truck and I got

nothing against pickups okay I love

pickups but there are a lot of nasty

ones and nasty RVs people parking on the

grass it's just it it's it's just not

where househack is going to invest I'm

sorry you're you there's no homogeneity

yeah we got the we got the homies here

like what the hell dude it's just all

this trash over here I don't feel I just

don't feel comfortable

I've never been so scared we just landed

in Salt Lake City we're on the tarmac

and we're getting ready to hunt for real

estate in Salt Lake remember that my

goal is to visit about 200 cities this

year to narrow that down to a list of

about 20 cities and then we're going to

narrow that list down to about four or

five markets we're actually going to

invest in and that has two benefits one

we're gonna pick the best cities first

for our purposes and second we're going

to prepare for our larger expansion

because while we'll start with three to

four or five cities areas to invest in

eventually we expect that house hack is

going to expand its Investments across

the entire United States so every bit of

travel we do now is an investment into

the future of growing this into the next

BlackRock Invitation Homes you name it

and we want it to be better and more

efficient than them so we're growing it

from the ground up and we can't be more

excited if you want to learn and join

this process you want to invest with us

go to househack.com to learn more this

video is not a solicitation let's get

into the content yeah yeah it's like GTA

I got the van on the tarmac

I'm going to take over the airport just

kidding we are law abiding citizens here

and we're gonna go look at real estate

what we should do once we narrow down to

our three or four markets is probably in

the future just buy a cheap version of

one of these vans that we park long term

near the airports that way every time we

come rather than paying you know 150

bucks for a rental each day we're there

we're paying maybe a car payment of 300

bucks a month for the car so that's

that's down the road once we actually

pick our markets in that but I think

that probably a used van like this would

be good Mikey you want to drive uh yes

sir whoa we got a wrap I'm sober bands

It's Like Home Alone we got Kevin on

board yeah we do please give me a good

Uber rating yeah some people say Hey

Kevin why not just do Zoom or sit on

Zillow on a computer and work real

estate like a spreadsheet it's because

you can't do that in real estate real

estate is a people business you make

money in real estate with the

connections you have not only to

contractors and trade people but also

people who have deals with their other

wholesalers deal finders real estate

agents it doesn't matter it could even

be our REO agents whatever you've got to

have the connections if you don't meet

people in person you sit at home on a

computer you're not going to make money

in real estate you must get off your

butt that's what I want to do because

I'm tired of sitting here and he didn't

turn the air on it's hot guys look this

is how hard it is to be a YouTuber okay

here's a video thumbnail title video

ready to go I now had to remember before

the market closes to go in here change

the visibility from private to public

and hit save oh now it's posted there we

go

um

back to what I was doing oh I no way oh

I love it look at that look we got our

our very first uh house hack

car magnet oh in the last video people

got mad at me that Kevin's was on his

phone it's like I gotta I'm trying to

take some notes man

but then again sometimes I feel like

people get mad no matter what that

sounded like progress so what do we got

here so you've got these are median home

prices medium sold so this so this is

not even taken into consideration that

actives are out there so the stats are

actually worse than this because as you

know if the actors haven't sold yet

they're not part of the statistics what

blows my mind is like the National

Association of Realtors they take like

three months to get that out right so

this is this is up to November you said

correct and you already looked at the

December correct yep so I already looked

at the December numbers and they're 5

20. so we see here that it went from 516

to 590 that's the medium price in six

months and then as quickly as it went up

it went down so we have already lost

pretty much that all of the gains in

2022 and we're actually right here 520

eating into the game so in December was

actually the first month we were

negative year over year oh it started

I think there's a chance you're going to

see in uh between February to may just

the national media having a field day

about this idea of oh my gosh

exactly the Panic itself is going to

bring the market down yeah exactly yeah

and that's not even in the news media so

yeah exactly so this this so this is so

this right here is 2020. so this is

right at the beginning right before the

lockdowns and everything like that 30

60. look at that explosion and look at

the explosion and then look at the

decline right there which I always get

the comments people like after all this

uh

so uh okay where are we we're in the

Avenue in the Avenues of Salt Lake City

correct and you said this is uh somewhat

close to downtown it's uh close to the

college yep so this is close to the

downtown area and it's closer to the

University of Utah so when I was going

to the University of Utah had a lot of

friends oh that's awesome okay all right

so a lot of friends that would actually

live out here and they would they would

you know share room share the single

family house so it's a good location

because people that are working in

downtown and then people that are going

to the University of Utah and then

people that just want to be close to all

the restaurants bars and night

activities and stuff like that now these

feel like 1920s yeah what are the specs

on this one and and if they're 1920s and

you either had twos and ones threes and

ones and four and twos came later yeah

so what do we have so this one right

here is going to be a three and a one

one three one so it's a it's a quarter

so it's a so it's pretty much somebody

yeah but I consider I mean it has a

shower I consider it a full day here to

consider it third so if it doesn't have

a tub but a shower for some reason they

don't consider it a full bathroom sure

yeah I mean as long as you can shower

yeah

so 1909 yep so this one's 1909. so the

original list price of this home was 650

000 67 days ago now it's listed for six

hundred thousand almost a 10 reduction

we're sitting at a square footage in

total including an 800 square foot

basement of 25.82 built in 1909. let's

take a look wow okay so obviously well I

guess the basements because when I walk

into this immediately I think raised

Foundation but it's because we have a

basement correct so underneath we'll

have concrete okay all right and you're

going to have majority of the houses

here pretty much at least a crawl space

but um but they're all gonna have a

basement and and I smell you know the

cigarette smoke in this one uh that is

the hardest thing to get out of a

property is cigarette smoke which is

kind of sad because the kitchen's

actually nice yeah like this is a pretty

nice they went all the way to the

ceiling with the cabinets that's more

expensive you have to go to the ceiling

so you've got the hardwood floor these

are these are almost like three inch

ochres or something uh this feels like

an add-on

so you see like the difference yeah

ceiling and then you've got the slats up

here uh they made it a little more

functional they probably expanded the

kitchen a lot they probably did a lot

more chopped up so uh what what do you

have in terms of backyards here in Utah

what's normal oh my goodness so in the

Avenues and kind of the right here

closer to downtown you've got a view man

yeah yeah I mean look at that

so you're gonna have views from a from a

lot of properties and of course the

views are worth money because you can't

move a view right yeah so uh and do they

have any like conditions for people

building up over here limitations on

that so yeah so there is a historical

um oh in this in this area yeah okay so

there so you would have to get approval

before you're able to do certain stuff

and things like that but yeah as you see

I mean look at downtown I mean what's

your time to downtown driving here from

here oh no from here maybe it'll be

almost 10 minutes maybe 10 minutes okay

I mean you'd probably be within like 70

minutes into downtown from here how are

they with airbnbs out here

um they're good I mean there's a lot of

skiing going on here so there's a lot of

Tourism as far as the winter and all of

that so people do do a lot of airbnbs

here but Airbnb isn't doing too hot

nowadays are you guys noticing that yeah

yeah okay interesting yeah so and yeah

so on some of the research I did as well

it just seems like they're not doing too

too good that makes sense uh this is

also I I personally love it but you get

a lot of all of this is rot right here

uh at the end you can see the ends

rotted uh All the lumber over here for

the deck I saw that at the front of the

house too so it probably hasn't any had

any kind of termite work in a while uh

usually you hire a termite company

they'll deal with fungus and termites

now do you guys get termites out here so

that's actually the good thing is uh

when it comes to just the stability of a

house here yeah it survives there's

there's no major humidity we don't

really have the termites and things that

other we don't get a lot of termites

okay yeah yeah I mean it's 100 years old

it looks like also at some point they

had a bunch of vines that were running

up the side of the building that is a

perfect way to rot out all your wood

what's your typical buyer do out here uh

like someone just like the job market

yeah so it really really depends where

uh where you're um living and where

you're working but there's a lot of tech

here they're kind of you know Silicon

Valley but it's called the silicone

slopes here's a lot of uh Californian

companies are moving into the valley so

Lehigh it's going to be right where the

point of mountain where Salt Lake County

and Utah County meet so is Utah towards

Park City or the other way so Utah

county is going to be where provo's at

so but provo's on on kind of the edge of

Utah County God and Lehigh is closer

towards Salt Lake Valley right here and

that used to be corn fields I remember

in elementary school we took a field

trip there and there used to actually be

like a corn-filled maze and now when you

go there there's all these tech

companies and all these offices and

everything like that so it's called the

silicone slopes trying to be the next

Silicone Valley yeah yeah for sure yeah

um who is it it's a sofa Phi is a

they've I'm pretty sure fintech

companies come to Utah because it's the

easiest state to get your banking

license it's really incredible because

that is going to pull Finance here

versus like another area that's big into

banking Tech is uh Spokane Washington

but uh I think I think Utah has an edge

because of the banking licenses out here

so that's really interesting yeah

they're definitely a friendly work state

that's great where do you see people

move to like wait like where where do

people when they leave where do people

leave too so ironically ironically

California oh you see people leave to

California and then they come back then

they come because they can't afford it

so oh man the old wood oh yeah

I mean it's kind of nice uh people get

mad at me but I can't wait to spray it

white now with this yeah this would have

originally been finished because I I see

I mean the windows are kind of funky

yeah you've got some moisture damage

coming in through the window you've got

these doors are original the only the

only thing it could have been is like an

attic that they may be turned into some

living but I mean it looks like a older

style this has been here for a while

yeah it is that's what I'm wondering if

this was an attic before because where

that staircase is a little funky yeah uh

and um this is a little funky with the

windows yeah this is this is so

interesting I really wonder if this

second story was ever here to begin with

you you will see this

um you will see this in this area do you

know what the rents would go what this

would rent for yeah so I actually did

get that for this one here it's roughly

um I ran an analytics comp on it but

about 2 700 to 3 000 depending on what

you do with the with the house right wow

the basement yeah

uh so this is what I want to show you

this one because you'll get a lot of

this funkiness

so you can see some of the bones of the

house yeah somewhere yeah water heater

here oh they've got all their manifolds

here oh they replumbed the whole house

this is great see this is actually what

I like to see is uh everything's

manifolded out yeah it's a little messy

but this is good because you're you're

getting new packs copper plumbing you've

got some more pecs over here you get the

yeah and they got the extension tanks so

yeah it's definitely like you said it's

it's all newer you've done newer work

you know what that's the trick is from

now on if the plumbing hasn't been

redone we're just gonna put in the

expansion tank and make it look yeah uh

yeah the transition of their iron or not

an extra Place those are like lights

yeah we do uh sewer laterals I recommend

actually usually on purchases run a

camera down the line and you can see it

go out to the street yeah because you're

right I mean if if your cast iron drains

under a house or gone you have to jack

hammer up the concrete and I've done it

oh yeah Spike where's your room

I'm looking for the cupboard under the

stairs

on the basements you can still they

still consider living space so I know

there's some states they don't allow it

to be counted so in Utah the only the

requirement for it to be considered a

bedroom is it has to have a window yeah

and it has to have a closet it doesn't

have I can't even get out of that window

yeah so sometimes people will

technically it has a window so

technically if you put a closet in here

um you could technically call it a

bedroom wow uh and you'll see better and

you'll see better basements and this

reminds me of Detroit we gotta find the

clip of me in Detroit uh with graham

that was fun looking at this yard and

the fence and I'm just thinking

maintenance costs upkeep rot

and there's one thing you can't fix in a

house and it's the layout all that stuff

I can deal with but this one's got a

rough layout look at this this is a flip

or or somebody spent a lot of money

renovating this thing this looks really

gorgeous and so one thing that I do like

is I want to find that old like

curmudgeon house next to a lot of homes

that look like this I mean gorgeous door

LED light you got the slight tiling in

the front you got new windows you got

this beautiful attic built out with

those three windows they're not sure how

functional it is but boy it it rocks the

curb appeal and given that they've done

that and given that that is a single

story and given that that's a single

story and given that that only has an

attic and given that that is definitely

an added on two story I'm gonna say that

was probably an added on Second Story as

well what we were just in it makes sense

with the funky floor plan we've seen so

if I could see more stuff like this

that's next to where we want to go

shopping gorgeous this is exactly what

you don't want to buy AI but you want to

buy next to great I love it what's wrong

Joe what do the numbers tell us let's

crunch the numbers

Joe does our numbers the numbers say

this is not the house for us yes Mikey

tell the world about this exclusive

watch you have oh this exclusive watch

so okay never before seen

careful with this I don't want to break

this this right here I got this from the

internet uh forgot the website it was uh

amazon.com it cost me forty dollars

sauce all right let's go let's go to the

next one so right here is one of our

course members who joined us in the meet

Kevin shadowing experience you too can

join by signing up via the link down

below Shadow me for a day as I explore

real estate and you see exactly what it

is that I look for in real estate check

out the link in the description down

below you'll learn all about where to

meet you hop on the plane with me we fly

to a destination for Real Estate we meet

agents we learn about real estate we

hang out we talk I answer questions we

want to do uh you know video clips Tech

talks do a little uh q a or whatever I'm

here to help I'm so excited that we had

an opportunity to have a course member

come with us today we've got a lot more

Shadow Wars coming up and we are so

stoked to invite you so check out the

link down below we'll see you soon you

you said you were in the shower

listening to the course member live

stream so what I do is usually listen to

me while you're in the shower I try to

be as productive as possible

so tristian's asking about uh wood rot

uh wood rot that house had a lot of and

if it's a small amount of wood rot you

can carve it out kind of like a tooth

cavity you drill and carve it out and

then you fill it with putty right and

then you sand it and you paint over it

however there was so much wood rot over

there you're probably replacing a lot of

wood uh so that's uh that that's

definitely going on over there the

biggest I mean the first five seconds

usually just based on floor plan you

know if it's going to be something

that's potential or not that one that

one was a rigged floor plan the

staircase was added after the fact uh it

was made to look like it's been there

since it was built but you could also

tell when you went upstairs to the top

of the staircase that is the most funky

Landing I've ever seen in my life for a

staircase so that was a good example of

what not to buy even though it's well

it's also cigarette house which is like

impossible to fix up but that's a good

example of what not to buy because

people might look at that go oh it's a

fixer it's been on the market for a

while yeah this time there's a reason

yeah now we have moved to the lower

Avenues right above Wild Wood closed

captioning not available

six months ago this would have been long

sold but no they wanted to price it

based on Old com so they followed the

market down this is why in a declining

actually no matter what Market you're in

but especially a declining Market you

have to do something known as shooting

ahead of the Running Deer so if the

comps right now are six you price at 575

that's shooting ahead of the Running

Deer which is running straight down

right you don't do oh it's at six let me

try 619 and leave some negotiating room

that's exactly how not to sell so then

you are looking at in total 2669 square

feet 69.

[Applause]

uh 444 square foot basement built in

1911 also two-story busy road we'll see

some of these two stories

see that single story some of them I I'm

pretty sure these are mostly just

addicts that people are basically

finishing out in basements so are you

saying this is a little bit more of a

desirable area the lower Avenues well oh

no so the all of the Avenues so yeah all

of the animals are really desirable so

you're not if something is priced low

and it's a fixer-upper yeah it just

flies off usually unless the floor plan

sucks yeah unless the floor plan like

that before it's overpriced like exactly

yeah okay the median income right now

here is six uh 6.88 the median sales

prices well no yeah so right now at the

end of the fourth quarter so if they

would have prices six months ago at the

peak yeah the the medium price was uh

closer to 800 instead of closer to 700.

wow yeah yeah so they're calling this a

five bedroom two bath and an office one

car extra deep garage plus space to park

additional vehicle off the street just

hope you don't get killed when people

are going by 40 miles an hour okay oh

it's near the LDS Hospital I own and

have owned properties near hospitals and

I always get nurses and doctor they

always pay they always pay now you can't

discriminate based on profession is just

them just making an observation here

okay YouTube they just make good money I

guess yeah I mean that helps you know

it's easier to pay your bills when you

make more money do you guys have natural

gas out here though yeah and then this

is interesting how they ran the Conduit

on the inside it this isn't safe what

why the soffits dropped like that I

wonder that's very interesting what

they've done here because you've got

some some Lumber suggesting they added

the soffit with these vents because no

other houses I think they added that on

so they have an add-on and they skirted

the whole house with that why they ran

electrical here are these These are

block homes then yeah so I mean they

wanted to add power they moved the

kitchen rather than Drilling in through

all the brick to run their conduit they

just dropped uh they dropped the conduit

uh right here like this that's yeah

because this one's built in 1911. yeah

yeah so that's that's a block outside

okay all right well and you said they

added this on I mean oh yeah it looks

like they did it right yeah it's a mud

room laundry room yeah that's a good

idea see this is not a bad add-on this

is a good app yeah yeah this is nice oh

and this is a cute backyard do you get a

lot of mix back here where you got

apartment buildings duplex Triplex and

singles so you so you will have more of

the duplex

um because sometimes they'll convert

these into a duplex oh they'll take

these Originals because well some

sometimes you'll you'll have word of

basement is actually livable sure and

then what they'll do is they'll create a

separate entrance and then you have and

sometimes they don't really call them a

duplex they'll just be a single family

home but two families

we've guessed you yet or whatever yeah

because you can you can have two

families living and still be within the

guidance now usually when you look at

single-family neighborhoods you want to

stick close to just single family as

soon as you start getting duplexes and

dry plexes around it tends to lower your

value in neighborhoods so it is kind of

interesting seeing some of these back

here uh but okay we're getting a feel

for the Avenues okay great let's keep

going

with my booties they made us put booties

on

oh yeah another added on staircase

oh yeah step row

here I come yeah this is a lot better

because you've got functional rooms up

here as you said earlier they've got the

closet yeah they threw down the new

carpet yep wish they had mold instead

better deals oh this is quite nice

actually so I I personally would just

want to make sure that they pulled

permits oh those kind of stuff but I

don't you would mention it doesn't seem

like it's that big of a deal out here

for permitting this stuff and it seems

like they did things decently well so uh

if I could get somebody who did this

sort of add-on legal but then it was

like 20 years dated oh that's how you do

it somebody else goes through all the

building crap then it gets dated and

turns into a fixer you get all the

legality and you get grandfathered into

the old rule oh it's great power looking

job I have excellent views of the

vineyard I think that is a Vineyard

isn't it you're right this is Ikea dude

these are oh my gosh the first vanity

cabinets I ever bought in my life were

these now my bathrooms were too small to

have two of them next to each other so I

got the single unit set but this is

straight out of Ikea and I assembled

them myself

I will never forget this this is so cool

I'm actually a big fan of Ikea people

are like oh I can use cheap stuff I'll

tell you some of the Ikea stuff I have

is the longest lasting stuff ever uh

maybe that's a bad sign for the other

stuff I'm buying but um

this is nice they cut out for the

plumbing drain that's pretty normal

that's awesome man

I like these people these people are

cool I won't buy their property but I

like I like what they've done is that

just another room back there Joe it's

fascinating

see this is like where all of the rooms

are up

yeah this is great this is good

see see like this is functional square

footage you get the Vintage of the older

homes but you have functional square

footage here they throw in the Dual pane

windows I think they've done things

pretty decently well again like

something like this with with this floor

plan much better now you guys

all dual pane uh but not uh like

sometimes you get into certain areas you

start seeing they put storm windows out

in front as well so you almost have like

a three pane I don't know the weather

gets too bad out here though huh as in

like super cold like so it's it's not

like the the Midwest and the East yeah

so consider to that it's mild okay yeah

that makes sense

out here uh

is that the rules are good yeah they're

insulated there's none of those freezes

really where there's negative

temperature so okay we don't really deal

with that uh we don't really deal with

power loss from Snow from from stuff

like that so less maintenance is better

yep I'm gonna end up as shocking myself

I don't think I can that's all right

looks good no uh what's interesting

though is you actually do not have ah no

40m it does this is the panel for the

entire property there's no main

disconnect that slightly makes me

concerned that this stuff wasn't

permitted usually would have a main

disconnect but this might be a sub panel

but even a sub panel should have a main

and then you got this taped one over

here

oh there's more but wait Mikey I found

your oh

look what I got for you the cupboard

with the room

except for I'm stuck oh no let me help

you

oh man it's tight oh good I get to see

some bones over here this it actually

looks very decent uh I will say I mean

the uh the electrical is is stapled as

it should be looks like it stapled about

every three feet okay depends on what

the codes are out here you've got the

strapped uh floor vent over here the

heater you got some ABS Plumbing right

here above me uh as a Drain Plumbing

you've got a new HVAC uh yeah you've got

new ducting new ducting new HVAC yeah

this the bones on this one are good

heater ducting Plumbing electrical

everything I could see has been replaced

obviously I can't see drains but that

was my suspicion upstairs was that these

people did a very good job and so far

everything I'm seeing is is actually

pretty impressive so this is a kind of

home that I would actually feel

comfortable uh buying either you

negotiated very low and create a wedge

uh or you find something like this that

just a little bit more dated but even a

stale listing can be a wedge deal if you

get a good deal on it but the work

they've done here in most of the places

I've been looking I've I approve of

compared to the last one which is a

disaster but this is good so he was

saying that all of this is developed

we're over here we're right next to you

know down downtown yeah um you can't

build out here so you have to remodel it

they're over here or over here so

there's going to be that's a nice little

demand here I love that about having a

geographic bounce right you buy next to

beaches there's a limit to how much you

can build you buy in a valley there's a

limit so we're here and and so where's

the new development which areas all out

of all out that way so there's a little

bit right here okay a little bit so the

majority of Salt Lake Valley is built

out so it's spilling over here into

Tooele County a lot of people when I was

going to school didn't even know this

existed so a lot of it's spilling out

over here and then that's where Lehigh

the tech Hub is that's where Provo is so

it's so the city is built along that's

why it's called the Wasatch Front this

is the Wasatch mountains so that's the

Wasatch Front and Salt Lake Valley right

here is pretty much completely done

other than over here and they can't even

build too close to the West mountains

because they kind of caught the biggest

man-made pit in the world oh there's a

mining Pig a copper mine oh great okay I

wonder when that gets depleted because

then eventually they'll build yeah

don't worry about that okay

good job thank you okay so this is your

original two in one yeah so that's uh

the original closets from the early

1900s these were the closets that you

got in the early 1900s so what's Wild is

people want this as an upgrade today in

new construction homes you want like

drawers which you can't open because

they're painted shut that one's painted

shut or they nailed it shut but anyway

uh all of this old kind of lumber and

Cabinetry is what we do today with like

closet world or whatever and it's

incredible because back in the 1920s

this kind of stuff was standard uh you

almost always had cupboards above where

your closet was really neat so they kept

this so this is your original two in one

and upstairs isn't it yeah it's awesome

oh it was a three in one oh hey even

better so this one was so yeah so it's

three upstairs two down here

was there another one we have this

walkthrough I guess I think they're

calling that the office yeah yeah but

you could tell this was original too

with see this rounded Cabinetry you just

don't get this anymore today and so

people love this vintage stuff yeah oh

yeah look they did I think they did a

great job with the build out on this I

really like that I don't like the street

that I wouldn't Buy on the street but

great build out uh as long as I I would

expect it's permitted because I think

they did a great job from what I could

see and even something like this even

though it's not like nasty you could

play the timing on this and start

throwing in like cash offers right you

could get somebody at that perfect time

where you could get this to be a wedge

deal and have to do almost no work to it

yeah okay nobody slip or die

you're not on my workers comp

yeah Kevin so this property's on a busy

street at what price would it make sense

for you to accept that it's on a busy

street yeah I probably would never buy a

property on a busy street unless I was

flipping it and obviously with a flip

I'd have to price that in to to what I'm

paying for it because I'm going to sell

it for less but with a tenant the type

of tenant in my opinion that is willing

to live on a busy street is not the type

of tenant that is going to stay as long

as I would want them to I think I'm more

likely to get turnover because even

somebody who thinks they're going to be

okay with a busy street will eventually

realize when friends come over Neighbors

come over children come over they have

children this is inconvenient and

they're going to end up moving to a

non-busy street because this is just too

dangerous even just McKay trying to get

in the car he's trying not to die and he

doesn't even live here we've just

visited one time we need McKay alive uh

it's so busy streets no thank you ever

so we really have to understand the

areas that's the hardest part because

neighborhoods especially older

neighborhoods they change Street by

Street yeah so

before I would ever even pull the

trigger on one of these streets as an

example I'd probably have to visit here

at least four or five times just that

neighborhood right I'm not talking about

visit SLC four or five times right that

neighborhood right I really want to see

those Trends and then before you ever

pull the trigger on buying you watch the

markets so you're like okay I saw that

house how long did it take for it to

sell oh here's a new one oh that one

looks like it's actually Priced Right

does it sell right away so properties in

great neighborhoods

will sell right away when they start

sitting it's also a red flag what does

the market think about the neighborhood

it's either overpriced or the

neighborhood's just not that snazzy oh

yeah yeah so so you're saying like if it

should be a good deal but it's not

selling or checks all the Box

hours hours it's a good deals go very

fast so but what you want is to build

those relationships and that network of

agents to where you're not sitting there

trying to like react to everything

you're either getting a ping from your

app or you're getting texts and calls

from your agents going hot deal let's go

hot deal let's go I'll go FaceTime tour

like I'll go about whatever you need

Kevin let's go this is a good that's

what we want so we build the

relationships with the agents in the

neighborhood but not just the agents

that represent us we want to meet the

listing agents in neighborhoods too so

that way when they see an offer from

Kevin they're like I know this is going

to be good they feel comfortable going

to their seller saying this guy's going

to close this deal the most important

thing is there has to be a reason for

people to come to the area we don't want

bankrupt towns so we're looking uh jobs

we're looking Geographic constraints uh

is this an area where people can just

build a new neighborhood and everybody

wants to move to those jobs location uh

Geographic bounds very very critically

important when it comes to individual

neighborhoods I look for what are called

Sizzle hot neighborhoods so Sizzle hot

means if every house on average in a

city

sells in let's say 30 days on average

the sizzle hot neighborhoods have their

homes sell on average in 15 days for

example right so you're looking for

those hot neighborhoods so it's it's

first city then narrowing down to the

hottest neighborhoods then we want the

worst house investor oh whoops it's

actually the other one

doing all the Talking I was about to go

to the wrong house I just got shot yeah

yeah

this is cute so these are 50s homes so

built in 1942 now mid-century so usually

starting the 40s you started getting a

little bit more two bath homes three bed

four bath homes I see a lot of single

stories here which is also an indicator

that people did not have to go up

especially since most of these homes

appear to have basements as well you

actually have a little bit larger of a

yard where it seems like most of these

homes have a single car garage with a

single car driveway pretty typical for

1940s mid-century although starting in

like the mid to late 50s you did get a

lot more two-car garages this is uh a

property that was originally listed for

675 thousand dollars now at 6 35 and

it's been on the market for 69 days

minus one and it is 2235 square feet

minus an 809 square foot uh basement

which leaves you about 14 upstairs and

it looks like it's about a two bedroom

up one in the basement so three and two

so it's an it's you know those cities

that are unofficial it's not really a

suburb but you're not you can pull it up

but it's not in your address it's not

like sure one two three Sugar House you

know whatever so it's like yeah Salt

Lake address basically yeah it's

considered sugar but it's considered

Sugar House okay so uh the way that it

stretches is you have interstate 80. so

there's a smaller section trigger house

that's across there but it's not as

expensive as the sugar out here correct

so the further you go to the East

mountains the more expensive real estate

gets because of the scenery and then of

course closer to downtown so when the

Sun so like the upper Avenues with this

view correct more expensive and then

East more correct so the East yep so

when you're going east you're going to

the Wasatch Mountain so Cottonwood

Canyon is going to be just right here in

the middle of the mountain so you're

literally here from this location you're

probably anywhere from 14 to 20 minutes

away from downtown

um you're probably another 10 minutes

away from University of Utah University

to hospital the cancer the Huntsman

Cancer Institute and then you're also

maybe about another 20 minutes away from

so what do we got here we've got

um yeah this is your good old three and

two yeah okay you got the Dual plane

windows I see I love this this is great

this is a this is a good wedgie kind of

sign okay gotta have the drapes what is

it oh here's an add-on for you so you

see the slanted roof over here this was

added on to so they added a little

family room on over here kind of funky

little cut out right here but I see why

they did it so they still had seating

over here

oh yeah there you go yeah you can see

the original part of the house has

settled differently from the add-on

portion of the house oh it's still got

the pink tiles see this I love this this

is like Grandma's home I feel actually

this part of the property is leaning

that way uh which is um

you know these are the original cabinets

here too which you know you got to prop

this up straighten this out uh not too

hard to do but it's something to do it's

going to turn off some home buyers this

is a little funky you've got some old

wood rot there uh on the inside little

weird hallway here oh yeah you get a

whole way to a bedroom

um this is just another bedroom not a

master of any sorts but this is all part

of the addition over here

uh now this is the kind of home that I

would suspect they Pro I was gonna say

maybe maybe this sort of home would have

upgraded utilities they still have the

original electrical panel which uh if

they have the original electrical panel

and it was an elderly person that lived

here it's unlikely that they redid the

electrical with the exception of what

was in the Edition uh they do have the

dual paint windows but you gotta have

that out here uh a little colder yeah

okay we'll look at the kitchen then

let's see here okay a little funky but

that's what you get you get with add-ons

you always get a little bit of funk boy

there are so many walls in this place

functional space though I mean they

tried at you know they tried doing some

upgrading heater some copper plumbing at

least coming into the water heater a

trick by the way is you'll see copper

plumbing going into the heater that does

not mean the house has been replumbed

it's just just the part you saw could

have been replumbed oh they have a whole

nother bathroom over here I was trying

to talk to you from the other side oh

yeah you were oh that's interesting this

store must there stay open for airflow

thanks the management this is an Airbnb

or a room rental it's an LLC selling it

a lot of adding on

what an LLC oh yeah yeah yeah

you know this it almost makes sense that

you could just like rent out different

compartments of this yeah so you'll and

this is what I mean pretty much starting

in the okay yeah you're against you're

closer to college and then you'll have

basements in majority of the of the

houses and they look much better in the

newer ones you know what we need to do

is test the plumbing yeah the plumbing

the plumbing Works always check first

before you go to the bathroom the

plumbing and a vacant property actually

works and it flushes and if you're gonna

go number two we're not but check that

there's toilet paper this is why you

always put toilet paper in a property

you're selling

I don't know

[Applause]

the plumbing works

[Applause]

very quiet I like that this is nice so

usually a trick for trying to find out

where something is an add-on is you look

for differences in siding or like stucco

or whatever clearly here you can see

they have vertical siding for the two

editions here they have horizontal

siding that happen to be an easy one

sometimes what people do is they'll do

an addition and then they will wrap the

whole house in new siding and then they

try to trick you but uh yeah this would

all be the new portion here so I wonder

if they actually are still using this

panel because this thing's ancient

yeah there's your there's your main uh

but um

maybe the sub panel inside the house is

just what they've diverted everything to

or that maybe it's also possible that

because of the weather out here they

originally did panels inside the house

and then you would have had your fuses

although this was this is a this is an

original breaker box from the 40s so

maybe the original Breakers would have

been in there that's cool all right oh

so this actually has some more space too

I like that

interesting

oh I see what they've done they've

created almost two backyards here to

rent this out to separate people

gray water

all right let's go get some coffee this

is this is nice though you know nobody's

looking into your backyard it's quiet

it's peaceful here we go yeah dollar

sign dollar sign

uh actually what we're developing is

another app where we can judge if we

think a house is going to be a wedge

deal just based on the outside so that

way we could like maybe knock on the

door or like Market to certain homes

that really ping up so down the road all

right let's go

I would love a very big black coffee

black coffee yes you still have coffee

do you have coffee left they work gotta

explore man tell me about the area man

you know constructed houses we had one

just up the street so for like what was

it like 1.7 million wow a few streets

down it was a little bit over a million

I wasn't sure about the square footage

it was it was a new remodel too so sure

definitely added property value but it

was like a really really sweet sale uh

that's awesome and you live close to

here I live like right next door I got

like a 100 year old house that's amazing

how does this compare to like the

Avenues for the Avenues yeah um honestly

I kind of prefer this area as far as

like the property value The Avenues are

probably a little bit higher you said 15

to 15th now that's this intersection

then yes yeah because I just zoomed out

a little bit of that's there's very

little commercial around here it's just

you guys like on this like this little

quarter everything else is just houses

that's actually kind of cool yeah how

did they pull that off oh yeah that's

awesome it was before my time shout out

this place where are we right now this

is gelato sweetly July 15th thank you

for that so what is it is this oh this

is that Deli I want to see the deli it

smells delicious in here now we are

exploring Sugarhouse and trying to

understand what's this place all about I

really like these corner stores because

they're actually in the middle of the

neighborhood here it's remarkable it's

like you got your own little mini

downtown coffee shop Einstein Bagels

meat Deli here this is awesome it's

exciting this is cute I'm looking around

and I see the 50s uh style over here uh

you've got the 30s 40 style here you've

got relatively little traffic I see most

of these homes look incredibly well

maintained I don't really see

fixer-uppers on the street at least from

what I could see right here uh I don't

see anything massively over improved I

mean some people have really nice

windows I see are custom they have

custom windows uh this looks gorgeous

with the shutters I like this so far do

hear the the I-80 so we're a little

closer to the I-80 we hear that yeah

well I mean another thing too is is

there are just some homes that are not

going to be a deal right most homes are

going to be Market transactions so what

you do is you come to the street you

explore a little bit okay this side's

quieter but it's closer to the freeway

so it's normally zero okay you know that

side might be a little bit quieter away

from the freeway fine great uh now you

know the neighborhood you start getting

a feeling oh is it like a 50 style is it

a 40s or 30s style and then what happens

is all of a sudden you get a call hey

that street we're on here oh I remember

that street oh there's a fixer that's

coming up tomorrow uh oh well you know

we're interested in that neighborhood we

already know it we've been there we kind

of know what to look for based on the

ones we're looking at so most of the

stuff that's sitting on the market is

not a deal it's just not going to be a

deal uh it's the stuff that comes on the

market and flies off the shelf right

away so you have to be fast okay so this

one's the remodeled one oh nice so oh

this is very nice

yeah so this is a flip home and uh I

like you know I'm shocked that in a flip

they wouldn't have put bass on this you

know it just it screams to people coming

into the home like unfinished right like

flipper basically now

it's on other people's work and stuff

but it's like you know I mean hey maybe

they got a GFI breaker but you've got no

tamper resistant Outlets you've got no

GFI over here you went with the standard

plugs and switches I mean it's nice you

didn't have to spend too much on

Cabinetry I actually like the Cabinetry

they did get the uh larger cabinets this

is nice uh no poles I notice so like how

am I going to open this door it's harder

because I'm grabbing here sort of in the

middle right so polls is something you

know some sellers get so anxious to put

stuff on the market they're like oh oh

we'll put the polls on later so you

could choose it yourself that's always

the line is Oh we'll let the buyer

customize it like no you guys shouldn't

have done it uh nice tall baseboards

though love the single panel door this

is an original single panel door that

they just painted but they added that

closet door I think it is yeah this is a

new one uh to match

the uh the older single panel style very

nice uh yeah just a little cost

and overall it doesn't seem like they

did it they added a bunch of can lights

here I have anything the power's on so

what is this what is it a two in one

can lights in every room

and this is like 99 cent flooring well

you came out of the closet step row wow

it's a new chapter

I'm happy for you

doorbells thrown over there that's kind

of weird old cast iron top I love these

things

so no no never mind wrong fiberglass the

whole thing is a fiberglass enclosure

which is fine but you could see it's

older see that sort of nasty caulking

Edge right there they could have easily

cleaned that up now it just looks nasty

the yellowed handle right like look at

that it looks like peepee up there and

poopy and that caulking over there this

just drives me nuts dude if anybody did

this to my stone backsplash they're

fired this is ridiculous this backsplash

came with this cabinet

and look at that gnarly Gap okay well

it's beveled a little bit but it looks

nasty or they installed it upside down I

don't know but this is ridiculous a

nasty cut job to cut out the outlet how

about just move it over oh but we don't

have enough wiring well then you either

go on the crawl space the basement or

the attic put a junction box run new

cable down put it there simple it's not

that hard it sounds like a lot of work

it ain't that horse that uh that uh

Plumbing right there that wobbles like

crazy see how there's no uh support for

that blue water line coming up let's see

if you can see see that that's how you

get leaks

crazy this is crazy I hate flips I'm

done with this place

oh

I think what they did is okay this is

just my guess but this is so funky my

guess is this is the plumbing supply

line for the sink that they basically

just dropped down this wall and then

just like drywalled over to make it

disappear and then they put janky

quarter round around this is a joke that

is so crazy that's that I've never seen

something that lazy and then it's like

they didn't even try to cover it up well

oh my god get me out of there this is

funny this is funny this is like what

not to do because this

I mean that's one way to do it that's

one way to to cover up your plumbing uh

clean out that's creative this that is

very creative okay and one thing you'll

notice here is they don't have the as

many of those um uh the um the basement

pumps for the water

um you have those a lot in the Midwest

and places like that yeah yeah the water

table isn't so high here very very few

amount on the West Side that'll have the

pumps what are the specs in this place

this one's 1947. one car garage uh 17 26

square feet two bed up two bed down I've

been on the market for 29 days a 6 75

there's a bigger one on the market

that's not redone it was 6 35 they

dropped it's been a market like 100

something days is it and that's close to

here yeah okay yeah this is

oh they're calling this tiny thing a

bedroom here okay

we got another bathroom huge bed wow

yeah this one looks new or oh wow oh my

good Lord yeah so this is where your

your systems are oh they created this

bathroom because all of this Lumber is

brand new we've got uh some nice uh

Electrical uh still out of the box right

here that's all right that's not a big

deal to fix now what's interesting is

oh yeah see we've still got the original

electrical so you have a mix here you

have this uh cloth Romex right there and

these are more of the uh rubberized

Romex the cloth Romex is sort of more of

your original Power structure none of

the cables are stapled see this

loosey-goosey junk this is ridiculous uh

like that kind of stuff drives me nuts

uh that should never pass inspection

which kind of implies they probably

didn't pull a single permit on this

because this is come on man are you

serious uh the straps here for the oh

that's ridiculous

I mean it's just this is not like that

other home we were in the club where you

see a quality home even this right here

I do not believe that's code uh I'm

pretty sure you can't pull this off

these are like um

drier even they're even bad for dryers

honestly you should never use these kind

of uh corrugated but they're way easier

because they had to do the loop here but

even the sealant they used around it is

already coming up it's just you could

tell the workmanship here is just bad

um this is this is why flips have a bad

reputation

I'm just ranting now

planing and it's funky and even like how

the the that soffit is coming down

blocking the window it's just weird it's

weird yeah yeah all these soffits they

added here are just weird it's because

you have Plumbing uh running through

there or the HVAC for the floor above

and they built this out this was

probably an unfinished basement because

everything I see here is pretty new oh

my gosh they use my light fixture I get

this at Lowe's on sale for like 13.99

it's an LED those are the best ever this

is the best thing in that house right

there rather than buying new contrasting

house numbers they just took some of the

interior paint and crappily painted the

house numbers because it was white and

so white on white you wouldn't see so

they just crappily painted in brown I

would like to introduce you to the

greatest Uber driver in the world he

organizes my day my email my life my

bills ever hardest working guy right

here nobody works harder than McKay

careful McKay okay okay the faster we

are here

the more time for drinks the faster we

are here

imagine trying to play like hockey out

here as a kid you gotta wait all day

yeah you wait all day

okay all right no this one oh no no damn

it I almost killed everyone I almost

killed everyone oh oh he's waiting first

here we go here we go

[Applause]

you almost almost ate it this is cute oh

I feel the foundation a little crooked

but that's okay okay yeah basement's

this way let's go look at the basement

really quick no handrail don't die

oh wow the echo nice

this is actually nice

oh yeah so you got a nice tile job over

here

Plumbing looks professional vanity looks

nice I don't know they don't do medicine

cabinets out here but they got poles ABS

drains nice very good okay this is your

laundry room see look this is this is so

much more professional they even stapled

the sprinkler wire over here you got

your clean out over here instead of some

nonsense you know of course the painter

painted it I hate it when they do that

but they always do that uh looks a

little better with the plumbing uh I

always think it's funny when you start

bridging materials but uh you know the

packs doesn't matter so much for that

you got your expansion tank your water

heater your forced air unit look at that

they even bracketed screwed on the uh

the pecs right here that's all right

copper to packs and not not that big of

a deal cool I like it a little bit more

of a professional job carpet's actually

a nice grade a thicker pad underneath so

this is I guess how you get sort of

values you put like lots of rooms

downstairs the heck is this is this like

the ironing board aha this is the main

water line for the house you can see the

main water line portion is Rusted here

and then this is the new portion which

maybe they re-plumbed from the main uh

into the house which is cool but this is

where you would turn off the water of

the house this is your uh bonding

connector oh and it should not be that

loose this should be uh

this should be a lot tight oh gosh I can

hand tighten the screw on uh on their

bonding connector

they really did this night I mean it's

cute you know it's small but they these

people cared they staged it

yeah that's always the cop out when they

put the ring around the light right

there because it's just damaged uh

drywall basically behind it but uh it's

at least they finished it okay so this

must be two in one over here then so we

have one bathroom two rooms okay welcome

to a two and one one two one look at

that simple

oh yeah they didn't really do much in

here you got the old tiling in here

that's okay it's clean looks nice you

know what I would have done though

like a green or blue shower curtain just

add some color life in here because

everything is so sterile light like

you're going into like an 80s insane

asylum get rid of this color should not

be allowed

you know a little touch up here would

have been nice A little Dusty replace

the hinges is an easy thing you could do

but uh yeah otherwise all right let's go

cool this is good this was Sugarhouse

again right yes what street is this

okay yeah 15th and 15th was where we had

food oh God it's so slippery next time

I'm wearing sneakers to snow places you

know that's a bummer like a driveway

alone you redid even just this front

portion it's probably like eight grand

it's a lot of money so when the market

bottomed out in 2011 that's when the

whole MLS Wasatch Front bottomed out wow

by um the first year so in 2012 it

actually went up eleven and a half

percent oh nice and then within the

first eight years yeah the entire MLS

was a 94.5 increase almost every single

house along the entire boss I'm talking

about 40 miles away from downtown wow

almost doubled and there's neighborhoods

where they went 100 and 208 within eight

years that's insane like the first five

homes a bunch of crap and junk on the

side yards RVs on the side it's a red

flag

there's no HOA here I I would bet you 20

bucks is no age dude this guy is growing

cabbage or squash in his front yard that

fence is destroyed this is not in an HOA

this is crap I wouldn't buy out here

already

so another thing you see uh so far in

the neighborhood is when you get a lot

of trucks in a neighborhood uh sometimes

but not always uh you you have a lot of

more blue-collar working classes and so

potentially you could see a little bit

of a lower median income so these are

like 90s you said

yeah all right

oh it's a tri-level oh how much is we

were just talking about that all right

I've seen enough I've seen it now how

much is this place does it yeah no I

know you guys go how much is this this

one I left it in I think was 465. I

don't really like this area

that's interesting all right let's go

let's go

no not all I get no no this is my notes

unlock that sucker dude thank you so

much we gotta go shout yourself out

phone number Instagram everything go hey

it's thing code the realtor here in Utah

follow me for all your real estate needs

then code the realtor on Instagram

YouTube uh give me a call if you have

any real estate questions

801-792-2359 have all the data watch the

YouTube channel so you know when to buy

here in Utah dude thank you so much man

thank you get in here get in you'll be

driving

I don't like it here okay let's go

covered up car broken car window guy's

got a shop in his garage nasty water

heater sitting on the side RV on an

original driveway uh nasty old pickup

truck on the lawn everybody's got a

pickup truck and I got nothing against

pickups okay I love pickups but there

are a lot of nasty ones and nasty RVs

people parking on the grass it's just it

it's it's just not where househack is

going to invest I'm sorry uh another RV

there's no h they got Jesus out front

they got a whole uh assembly Those are

nasty old cars uh with a terrible

driveway I mean this is just uh

I I broke another Another Broken Window

they had to tarp up their entire car uh

like the front of it because of all the

broken glass

um this is um it's it's the more

industrial side you could tell that what

is this uh shut down Animal Clinic where

people are just parking cars it looks

shut down amazing so you got goats over

there so you're next to the farm nothing

about this is homogeneous these are like

mobile homes or I don't know what they

are the RV park and mobiles and

manufacturer I don't know everything

here is is not homogeneous

um it it doesn't say hey I want to be

here forever here we got the big

apartment complex I don't know man I'm

sorry I'm pooping on this hardcore here

no this is nothing I like here look look

at all this I mean like I get it okay

somebody's got to live here it's fine

but you're you there's no homogeneity yo

we got the we got the homies here

like what the hell dude it's just all

this trash over here I don't feel I just

don't feel comfortable

[Laughter]

get me out of here man I mean look these

mobile homes are falling apart this is

terrible they're having good mobile

homes like there's nothing wrong with a

mobile home it's good

well like but why why would you buy

there when you're next to this right

there's again no homogeneity it's one

thing like look they're always going to

be poorer areas but your home values

will be capped when you're around a lot

more mixed use or or various different

developments there you go now you've

seen kind of like things I like and that

was a perfect example of I feel not good

here get me out of here I get it I just

have a formula for househack and this is

not it that's it it's fine if you have

larger Lots with like ranches and horses

and stuff like that but again it's just

kind of like oh let's just build

whatever is kind of what's going on the

opposite of what we saw in Gilbert

Gilbert was like master planned right

here's the school here the uh uh

shopping centers here the homes and the

different various neighborhoods gorgeous

really gorgeous

what was this area called West Jordan is

West Jordan it was West Jordan Salt Lake

City we learned a lot about Salt Lake in

a very short amount of time we love the

Avenues but we love even more Sugarhouse

15th and 15th shout out to the gelato

and espresso Place shout out to the deli

across the street and Einstein's I wish

you were open you had a broken window of

one task why I wasn't sure if it was

crime or an accident wanted to hear but

can't find out so maybe somebody can

comment down below and let me know but

after that great start really bad end

you saw why we didn't like it so now we

know when we come back we're to narrow

our Focus maybe we'll revisit the areas

we like a bit and then we'll maybe test

another area test another one and as we

like areas we'll go to those as we don't

like Aries we'll cross those up and so

that way we'll narrow down where we're

looking and this is a perfect spot for

House tech in the future great

diversification from California