All Forum Posts by: Braden Anderson

Kevin, thanks for the intro! I currently own 2 SFH and 2 townhomes in Utah County. The market is crazy here right now. It's hard to find townhomes under $300K and hard to find a decent home under $350K. I'm not sure what the market is like it Idaho. Chandler Smith is a real estate investor in Idaho Falls/Rexburg area that has a Youtube channel talking a lot about real estate/his specific purchases. I'd highly recommend watching some of his stuff!

Micahel, can you give us some insight on the Idaho market? 

Hi, Kevin! I've got 4 properties here in Utah County. More than happy to bounce ideas off with you .

I use Rentler.com to have tenants apply, do background/credit checks, and collect rent. It has worked wonderfully and I get my payments 2 days after they are made. I used Cozy as well, but prefer Rentler over it. 

Would love feedback on an idea I had. I have a good friend at work who has talked about purchasing a home now for the last 2-3 years, but just simply hasn’t done it. He is single, with no kids, and just currently renting a place. He would love to get into a home, but is just a little hesitant about the whole process. I own 3 SFHs that I am renting, and working toward number 4. The idea to partner with him just hit me the other idea, so I talked with him about it, and he was all in.

The idea would be this. He purchases a home as his “Primary Residence” for 5% down. For simple math, on a $300,000 home, that is $15,000. We would split the downpayment 50/50 and he would come with $7,500 and I would bring $7,500. He would take out the mortgage, and I would just be added to the title. He would live in it for a year, and then purchase another house 1 year from now and move out. I would manage the property once he is moved out, and would collect 10% of gross rents to manage it. Everything else, we split 50/50 - equity build up through loan pay down, appreciation of home, expenses when renting it out, cash flow when it is rented, etc. When/if we sell, profits from the sale are, again, split 50/50.

He was very excited about the idea because he doesn't have to use as much cash to get into a home, and could feel more confident moving forward into home ownership. I love the idea because I can help get my friend into a home quicker, get 50% ownership on a home added to my portfolio, and make a very good ROI on $7500 of cash.

Pros:

• Get 50% ownership in another property with VERY little money down (2.5% of the home purchase price)
• Not have the mortgage attached to my name, thus not contributing to my “10 conventional mortgages” that I will inevitably get to
• Very high ROI on $7500 cash - both is Cash on cash return when rented, and just on loan pay down/equity buildup
• Get “into” another rental property without having to have 20% downpayment in cash
• Helps my friend get into a house and start building equity sooner than he could himself

Cons:

• I don’t see any, other than the potential hardships that come with any partnership

*Of course there would be a partnership agreement made up with the help of an attorney to make sure all of ducks are in a row.

What are your thoughts on this? Is there anything I am missing/overlooking? Thanks for your feedback!

Would love feedback on an idea I had. I have a good friend at work who has talked about purchasing a home now for the last 2-3 years, but just simply hasn’t done it. He is single, with no kids, and just currently renting a place. He would love to get into a home, but is just a little hesitant about the whole process. I own 3 SFHs that I am renting, and working toward number 4. The idea to partner with him just hit me the other idea, so I talked with him about it, and he was all in.

The idea would be this. He purchases a home as his “Primary Residence” for 5% down. For simple math, on a $300,000 home, that is $15,000. We would split the downpayment 50/50 and he would come with $7,500 and I would bring $7,500. He would take out the mortgage, and I would just be added to the title. He would live in it for a year, and then purchase another house 1 year from now and move out. I would manage the property once he is moved out, and would collect 10% of gross rents to manage it. Everything else, we split 50/50 - equity build up through loan pay down, appreciation of home, expenses when renting it out, cash flow when it is rented, etc. When/if we sell, profits from the sale are, again, split 50/50.

He was very excited about the idea because he doesn't have to use as much cash to get into a home, and could feel more confident moving forward into home ownership. I love the idea because I can help get my friend into a home quicker, get 50% ownership on a home added to my portfolio, and make a very good ROI on $7500 of cash.

Pros:

• - Get 50% ownership in another property with VERY little money down (2.5% of the home purchase price)
• - Not have the mortgage attached to my name, thus not contributing to my “10 conventional mortgages” that I will inevitably get to
• - Very high ROI on $7500 cash - both is Cash on cash return when rented, and just on loan pay down/equity buildup
• - Get “into” another rental property without having to have 20% downpayment in cash
• - Helps my friend get into a house and start building equity sooner than he could himself

Cons:

• - I don’t see any, other than the potential hardships that come with any partnership

*Of course there would be a partnership agreement made up with the help of an attorney to make sure all of ducks are in a row.

What are your thoughts on this? Is there anything I am missing/overlooking? Thanks for your feedback!

@Bryan Clement I use Rentler.com - I use this for applications, background checks, credit checks, and collecting rent. It has been WONDERFUL for me. I like it better than Cozy, as rent comes in days earlier on Rentler vs. Cozy. Hope that helps!

Very, very cool! What was your income before (in your stable 9-5) and what was your income first year as full time real estate investor? 

I’d love to connect with any real estate investors in Utah! (Utah Valley/Salt Lake County)

I own 2 rental properties in Utah County. Just wanting to connect with other Utah investors to talk about the market, trends, different areas to invest in, economic future, etc.

Hit me up if you are investing in Utah!

Rentler.com is free as well. I can also post/list my properties when they are available. I get the most interest from Rentler. I think it is pretty popular here in Utah. I like the platform a lot. 

@Willard Blair, I use it to collect rent for one of my properties. I use “rentler.com” to collect rent for my other. I like both, but I like rentler.com better, as they get the money to my bank faster than Cozy