Avoiding paying the morgage in Orem, UT

[Justin Pirir]

Investment Info:

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

Purchase price: $311,000
Cash invested: $12,000

Contributors:
Cherie Orellana

This property has (2) structures on it: a studio in the back and the original home up front with an upstairs and downstairs space that are separate. The upstairs is a 2 bed/ 1 bath that rents for $1,300/month. The Downstairs is also a 2 bed/1 bath that rents for $1,000/month. My wife and I live in the back studio space which consists of 2 studio rooms with high ceilings and large north facing windows and 1 bathroom. We enjoy living for free while our renters pay for the mortgage and utilities.

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

My wife and I were looking for a place where we could live and rent to ease the burden of the cost of living, and Cherie once again delivered when she helped us find this place. This is the 2nd property that she's helped us out with. Acquiring this property proved more challenging than the first because I had purchased my first house only 6 months prior. Regardless of the challenges, Cherie helped make the deal happen and we were able to find a lender to work with us. Another great experience!