All Forum Posts by: Chase Griffin

I have recently found an awesome 4 unit multiplex that I am seriously interested in buying. It is in a great market, location and was just remolded. It is more than I was looking to spend and my banker recently said I would need 20% to put down on it. I don't have 20% to put down as I am recently out of college, however, I have had a steady salary income for a few years now and have no debt. I have heard you can do a 3% down payment on your first home, but my banker said that wouldn't here because this propert isn't a home and it technically is an investment property since its a 4 unit multiplex. Does anybody know of any workarounds to avoid having to put 20% down on a property?

Also, a friend/business partner is considering going in on the project with me as well, to help spread out a large down payment if needed. Thank you in advance for your feedback! 

@Dominik Makaneole and @Kevin S. thank you for help and suggestions! I highly appreciate it! 

First of all, thank you to those who read this post and offer advice! I am looking to make a move and buy my first rental, an exciting and nervous time for sure! I have found a house that comes with a duplex in my local market that is listed for 400K. I am not sure if this is a good deal or how to go about calculating expenses like taxes, and how to calculate how much I could rent it out for. Any advice on how to analyze this deal and any first time buyer advice would be really appreciated, thank you! 

Here is the link to the property for more details: 

https://www.zillow.com/homedetails/871-32nd-St-Ogden-UT-84403/145118977_zpid/

Mark Christensen I will be sure to come check out the meetings in person as soon as I am back in town. Networking in person is a valuable resource. Thank you for your advice!

Thanks for sharing your story! I'm 22 right now and just getting started, stories like this are a huge positive boost! Especially when people begin to laugh or joke at you for having a minimal social life and investing instead! WELL DONE!

 thank you for the advice and warm welcome! 

Hey guys! You got a new rookie here on your hands! My name is Chase Griffin, I am 22 years old and from Ogden, Utah. I lived in Los Angeles the past few years of my life and met many real estate investors, one of them mentioned to me how good the bigger pockets community was and suggested for me to join before I begin my real estate investing career. I have no experience investing in real estate, but I have been working for a chemical manufacturing and distribution company, Sky Blue Industries, headquartered in Ogden. I am currently working there right now while going to Weber State University and working on my accounting degree. 

I am highly interested in rental properties; such as duplexes and apartment complexes. Right now I am trying to read and study up as much as I can before I make my first investment. If there are any other investors or mentors here in the northern Utah area I would love to meet you and learn all that I can from you guys!  After all, knowledge is power! Thank you in advance for any comments or helped rendered!