Starting Scrappy in Utah County
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $460,000
Cash invested: $15,000
Our second investment! Cash flow is projected once we move out, but this was our second home and may become part residential, part Air BnB someday.
What made you interested in investing in this type of deal?
It’s how we got started with low cash. Renters in basement covering half our mortgage was our foot in the door.
How did you find this deal and how did you negotiate it?
Pre market connection through our agent after our backup offer in the same neighborhood didn’t work out.
How did you finance this deal?
Conventional loan
How did you add value to the deal?
We’ll make the home more energy efficient by updating the windows in the future.
What was the outcome?
Still holding. Basement makes $1,250/month and upstairs could make $1,600/month when we move out.
Lessons learned? Challenges?
Save up with purpose so you can move when you need more space.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Shayna Stanton really knows this area!