Student Housing Townhome

[Tanner Williams]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $321,000
Cash invested: $60,000

A townhome right in between two universities (UVU and BYU) and right next to a new LDS temple currently under construction in a heavily LDS populated community.

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

We lived in it first, and the student housing market there is booming because of the two universities. It was a new build in an early phase of development with high appreciation potential and a great cap rate.

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

I found it through a local realtor who knew we were looking to invest in a student housing property. Negotiated through the preferred lender.

How did you finance this deal?

I had a rough credit score because of a stupid error a few years back- so I did an FHA loan but am refinancing this year on it.

Lessons learned? Challenges?

Lessons learned- increase your credit score to have a great financing option and be able to put less down while also getting a better interest rate.

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

Yes I did, Steve Barton from Steve Barton Equity was great to work with