All Forum Posts by: Becca Summers

@Suha Lingam I think the newer the better but the purchase price goes up so it all depends on the numbers. I'd recommend 2-3 bedrooms but if you have the choice for the same price always 3. 

Lehi, better rental rates. Provo is great for students and entry level rentals. Lehi is business people moving into state for work. They tyipcally have higher incomes. 

@Martin Gonzalez Did you get it rented? Cozy isn't the best in Utah. I've found my most success on Rentler when I post the ads to facebook. I have a five bedroom in Orem that took a little longer to rent. I've found that most renters look about a month or two in advanced so being this close to the end of the month makes it hard.

@Brian S. your fine with 44 units hitting the market at once. There is a project in Provo that was turned from a multifamily complex to condos in a condo conversion. They sold out pretty quick and had rules about only owner occupants for the same reason your new HOA wants to have only 10% investors.

@Aaron C. yep, I had to consult with an attorney over discrimination during due diligence. My lender ordered the appraisal the day we went under contract. Then the employer couldn't find the employee with this social because someone put it in wrong. That took 24 hours to figure out what had happened. The clients wanted it no matter what so that helped keep everyone motivated. The clients had been looking for three years.

@Justin O'Malley I don't know the names in Colorado but I'm sure one of the Realtors out there knows of one. In Utah we have a USDA Rural loan that is no money down, there is also Utah Housing and credit unions all have some form of no money down. Just make a few calls.

@Justin O'Malley A lot of first-time buyers use their 401K for a down payment. Being a first-time buyer you can buy with a no money down loan. You'll probably have mortgage insurance it might be worth looking into. Check out your local credit unions they are typically the ones who have the no money down loans.

I beat a cash offer with a no money down loan last month. The cash offer kept going back and forth and apparently the buyers agent was a jerk so the sellers decided to work with us. We had to close in three weeks like the cash offer was going to do. My buyers were working with my preferred lender and he got it done even before then and there were a lot of due diligence issues and underwriting issues. It was crazy.

@DuBeaux Dingle In my office a lot of agents don't invest and the one who does invest became investors before they got their license or did both around the same time. I often get asked to lunch to explain what I do and how I do it.

@Dan Gustavson with the mass amount of multifamily being built right now the condo/ town home market is getting hit hard. The renters have a lot to look at. Where is the unit? I've also found I'm getting more applicants when I post it on the facebook pages and rentler. I get out of state people from my zillow ads. I rent to dogs because it gives me a bigger renter pool. 

If you'd like I can run the numbers for you. Do you rent it with the HOA fee covered?