Property Management Blog

How to Get Started Real Estate Investing in Salt Lake City

How to Get Started Real Estate Investing in Salt Lake City

Have you wondered what it would be like to become a real estate investor? Real estate investing is a practical and effective way to build wealth and set yourself up for retirement.

You can fix and flip properties to make tens of thousands of dollars in one go. Alternatively, buy property to rent out to tenants to create a recurring stream of revenue. There are also real estate investment trusts that allow you to invest in the stock of a property.

No matter what option you choose, however, real estate investing comes with some level of risk. We want to help you minimize your risks and maximize your earnings.

Keep reading for our top real estate investing tips to get you started in the industry.

Identify Your Real Estate Investing Budget

Similar to buying a home, you need to figure out how much money you're working with when learning how to invest. If you're like most people, you probably don't have the money you need sitting in your bank account to buy a property.

In this case, you'll need to borrow money to become a real estate investor. We recommend getting preapproved for a loan first to determine your eligibility. A preapproval letter will tell you how much money you can get, what your monthly payments will be, and what you can expect in terms of interest.

Decide What Type of Real Estate You Want to Invest In

The next step in real estate investing is deciding what type of investment you want to make. As noted above, there are real estate investors who fix and flip properties, those who buy rental properties, and those who invest in REITs.

Let's break down each option.

Fixer Upper Properties

Fixing and flipping properties is ideal for investors who don't want to become landlords. They can invest in distressed homes for pennies on the dollar. Then, they work with a contractor to renovate the property to increase its market value.

Fix and flip property investors generally make around $67,000. However, you must also subtract the amount of money you dump into renovations.

Rental Properties

Rental properties are also an attractive investment opportunity. You can buy a single-family home, multi-family dwelling unit, or commercial real estate. Then, attract tenants and earn a monthly income from their rent.

Obviously, it takes time to pay off the property and break even. Once your property is paid off, however, every rent check you collect is pure revenue.

This type of real estate investing means taking on the duties of a landlord. However, many property owners choose to hire property managers instead.


Finally, real estate investment trusts (REITs) are properties you can invest in without investing in physical property. As noted earlier, it's more like investing in the stock of a property. Based on your stock, you will get paid a certain percentage of that property's earnings.

If you don't need the regular or recurring income from REITs, you can immediately reinvest your dividends to increase your investment and future earnings. This is considered one of the easiest and most risk-free real estate investing strategies.

Ready to Start Real Estate Investing?

Clearly, there's a lot to think about before you get started in real estate investing. Which strategy seems best for you? Do you like the idea of fixing and flipping houses, being a landlord, or investing in REITs?

Contact us today to learn more about your options. We would love to help you become a real estate investor so you can start building your wealth.