I’m often asked about Utah real estate, and people want to know where the hot place to buy happens to be right now. It’s a loaded question and a moving target. However, we’re excited about investing in 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 than other forms of investing. Here’s a quick review:
- Cash flow can be pulled off the property.
- Equity buy down; tenants are paying rent and thus, paying your mortgage.
- Depreciation can be taken at tax time, making the after-tax picture much better than the pre-tax picture.
- Property goes up in value and appreciates.
Collectively, these four things make investment property more successful than other investments.
Ogden Utah Real Estate
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 around Salt Lake City. The ebb and flow has moved north and south of the city.
This is different than 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. During the period of development, it got skipped. But now, investors and owners here are getting high rents and feeling pretty secure. The area is turning, and you can look at what the city has done with Junction and 25th Street. It’s really making an effort to reshape the downtown area into something spectacular.
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.
So there are three reasons Ogden is the place to be for investors. There’s the ebb and flow around Salt Lake City, the work the city has done downtown, and the plans the church has for continual development. The city and the church won’t allow any disrepair in Ogden, and it’s turning into an exceptional area.
Property Management Ogden Utah – Quality of Life
Outside Magazine rated Ogden as one of the top 10 outdoor areas in the country. That’s not surprising. We have hiking trails, and we’re close to dozens of ski resorts. All of this combined makes Ogden a desirable place. Those folks who are investing here and getting in now will look like geniuses in a few years.
I’m also asked why now. Everyone thinks either they missed the boat or we’re not quite there yet. As an investor, dong something is better than doing nothing. So many people have been sitting and waiting for the perfect opportunity. Don’t wait.