I’m often asked about Utah real estate, and people want to know where the next hot place to buy happens to be—or will be soon enough. It’s a loaded question and a moving target. However, we’re excited about investing in Ogden (including North Ogden), and today we’re telling you why.
Real Estate Investing: Finding the Best Return on Investment
If you’ve seen any of my seminars, you’ve heard me talk about my ROI quad or my Return on Investment quad. These are the four reasons to invest in properties, and why it makes investing in real estate so much better for long term returns than other forms of investing. Here’s a quick review:
- Cash flow: Collecting rent on time means cash flow can be pulled off the property.
- Equity buy down: Renters are paying rent and, thus, paying your mortgage for you long term.
- Depreciation: This is a benefit at tax time, making the after-tax picture on rental properties superior.
- Appreciation: Your property goes up in value through appreciation, which is a win-win paired with the above.
Collectively, these four things make investment property more successful than other investments.
Ogden, Utah Real Estate Growth Potential
I was born in Logan. Growing up, we would make random visits to my grandmother in Salt Lake City. When it came to traveling in Utah, there was Logan, Ogden, and Salt Lake City. Everything else was a field. Over the last 30 years, there has been a lot of development in this area, which is why we focus on providing Salt Lake City property management services as part of our offerings. The ebb and flow has moved north and south of the city.
This is different than in other metro areas. In Los Angeles or Chicago, you’ll see development all around the metropolitan area; the expanse goes north, south, east, and west. But here, we can only go north and south. We have mountains on one side and the Great Salt Lake on the other. So, our ebb and flow of development can only go north and south.
Ogden hasn’t always had the greatest reputation, so development in this area is exciting to see now. During the original expansion of the Salt Lake and Logan area, it got skipped. But now, investors in Northern Utah property and existing owners here are getting high rent on time and feeling pretty secure. The area is turning, and you can see this change just by what the city has done with Junction and 25th Street. The city is really making a champion-level effort to reshape the downtown area into something spectacular. Ultimately, this effort draws in potential renters.
The LDS church has done a lot around the temple, as well. A lot of old, dilapidated, run-down properties have been torn out. They are paving ground for new development—including new Ogden rental properties.
So, there are three reasons Ogden is the place to be for real property investors:
- There’s the ebb and flow around Salt Lake City
- The work the city has done downtown
- The plans the church has for continual, long term development.
The city and the church won’t allow any disrepair in Ogden, and it’s turning into an exceptional area for rental property potential. However, you're always going to want to protect your investment with full service property management.
Quality of Life Is Rising
Outside Magazine rated Ogden as one of the top 10 outdoor areas in the country. That’s not surprising. We have excellent hiking trails, and we’re close to dozens of ski resorts. All of this outdoor fun combined makes Ogden a desirable place to rent. Those folks who are investing here and getting in now will look like geniuses in a few years—but only if they're working with good property management.
Property management, Ogden Utah investors, helps you maintain that kind of desirable quality of life your renters are looking for. If you're going to invest in Ogden's development, it's worth investing in the right kind of property partner right alongside it.
I’m also asked, 'Why now?'
Everyone thinks either they missed the boat or we’re not quite there yet. As an investor, doing something is better than doing nothing. As they say, 'You miss 100% of the shots you don't take.' When it comes to investing in Ogden, this is pretty close to home.
So many people have been sitting and waiting for the perfect opportunity: when it comes to investing in Ogden rental property, don’t wait. This area is developing fast, and you won't want to miss out on the ground floor for this kind of growth potential.
If you’re interested or curious, please contact us here at Reeder Asset Management. We’d be happy to help you identify investment opportunities and tell you about the kind of Ogden property management services we offer to help you hit the ground running!
Updated and republished 8/24/2020.