My wife and I recently moved to our new "forever home". We housed hacked for a few years in our first home, renting the basement until we needed more space with our growing family. After moving into our new home, we are now contemplating what do to with our first home. We can rent up and down for a combined 3,500. I work in Commercial Real Estate Development, and I'd rather take the cash from our first home sale, and dump it into one of my investments at my place of employment. And don't love the hassle of dealing with tenants/repairs. But with the single-family and multi-family market trends, I am concerned we will not get enough to move the needle. The home is in great condition. Brand new carpet in the entire house, and a new kitchen installed in the basement, in a great neighborhood.

So here is my question. Is there a community of investors that are looking to purchase a quasi-duplex I could connect with? I'm fine to list with an agent, but it might be better to do a deal off-market. For an all-cash deal, I project a 6.5% ROI, with the value id like to get out.

Any advice would be greatly appreciated.

Thanks,

Salt Lake City, Utah

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Brad Jacobson

Realtor
Ogden, UT

Brad Jacobson

Realtor
Ogden, UT

Replied August 17, 2022 07:30

Hey Cameron!

That's so cool. We need to connect. I house hacked in Layton for a few years, made that house a rental, moved into another house-hack/ forever home in North Ogden, and after sitting on the Layton house for another two years, sold it for a really nice tax-free profit.

There are definitely good options you've proposed. Keeping the property as a rental will work if you can get zoning to comply with the ADU or I'm sure there's still plenty of good options of places to put the big, tax-free proceeds you can get from the sale.

I also help run NUREIA (Northern Utah Real Estate Investors Association) and you should totally get involved with our monthly meetings in Ogden as well.

I'll DM you!

Thanks,

Brad

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Caleb Ryan

Real Estate Agent
Salt Lake City, UT

Caleb Ryan

Real Estate Agent
Salt Lake City, UT

Replied August 17, 2022 10:23

Cameron,

We are always looking for homes like this to purchase. I'd love to look at it with you and see if we can make something happen. Not sure if you would be open to a seller finance option or not? Let me know.

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Vacasa