Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

397
Posts
317
Votes
Amy Kendall
Agent
  • Real Estate Broker
  • Lehi, UT
317
Votes |
397
Posts

2018 Buy and hold in Provo

Amy Kendall
Agent
  • Real Estate Broker
  • Lehi, UT
Posted

Investment Info:

Townhouse buy & hold investment.

Purchase price: $186,000
Cash invested: $36,000

This was a new construction townhouse 3bed/1.5bath with a 2 car garage located in Provo. The cash flow isn't great on this property, but it has been easy to rent with no maintenance expenses in the last two years. The appreciate has been incredible over the last few years. The current tenants are moving out at the end of this summer, and these have increased their value to about $245,000. We plan on selling it after they move out and doing a 1031 into a bigger multi-unit property.

What made you interested in investing in this type of deal?

I like the low maintenance that townhomes have to offer with no upkeep to the outside of the property.

How did you find this deal and how did you negotiate it?

We found this on the MLS. It was one of the lowest priced townhomes at the time and prices were increasing fast. We got in on phase 1 of the project and within a few weeks, they were all reserved and the next phase released with a price increase of 20k!

How did you finance this deal?

Just a traditional 30 year fixed mortgage

How did you add value to the deal?

We did upgrades to the cabinets, the countertops, and had some vinyl plank flooring installed.

What was the outcome?

We plan to do a 1031 into a larger multi-family property at the end of this summer and put the equity we have gained into better use.

  • Amy Kendall

Loading replies...