Investment Property In Murray, UT

[Justin Pirir]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Murray.

Purchase price: $300,000
Cash invested: $9,000

Contributors:
Cherie Orellana

Property consists of (2) unit spaces. The front is a 3 bed/2 bath that required minimal updates prior to renting. The rent for the front unit is $1,760/month which covers the cost of the mortgage and a portion of the utilities. The back unit is a 2 bed/2 bath and is currently being remodeled. Upon completion, this unit should rent for about $1,200/month. Both units have their own yard space and are comfortably located in a central location of Murray: near the hospital and close to I15. What's nice about this property is that it was previously recognized as a legal duplex property. Once the property is recognized again as a legal duplex, there should be enough equity to offset the need for PMI.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Cherie Orellana is a friend that I met through work. She has been exceptional in finding and helping in the process of acquiring this property. For this being my first home purchase, she set my mind at ease from the stresses that arise from this type of investment with her expertise/knowledge. I'm very happy with this investment property and will continue to use Cherie when i decide to purchase my next property.