Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated about 4 years ago,
Second Investment Property Purchase
Investment Info:
Townhouse buy & hold investment in Hurricane.
Purchase price: $665,350
Cash invested: $107,535
I purchased my second real estate property in Southern Utah in a town called Hurricane Utah located near St. George Utah and within 27 miles of Zion National Park. It is a new build, 5 bedroom with a private pool, hot tub, and fire pit that will be used as a short term rental. It will be completed Spring 2021!
What made you interested in investing in this type of deal?
Primarily this is an investment but I love that it can be used as a secondary home in a location my family loves to to visit.
How did you find this deal and how did you negotiate it?
Networking with property managers, real estate agents, and owners in the area to find out about this new build property.
How did you finance this deal?
Cash out refinance on primary for down payment and will use a conventional loan.
How did you add value to the deal?
Adding a private pool, hot tub, and fire pit.
What was the outcome?
I am hoping to see great returns through STR.
Lessons learned? Challenges?
It is a new build. The biggest challenge so far has been the price increase from the time I began looking at the property to the time I made the offer. The prices in this market continue to rise because of construction materials and demand is high for new construction.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Matt Hawkes - Real Estate Agent
Tracy Parker - Real Estate Agent
Jay Rice - Builder