All Forum Posts by: Chloe Dawn Murphy

Hello! I recently purchased .8 acres in Murray Utah. I am renovating the house on the property for office use. There is a large lot within the back of the property that I can rent out to a tree company, they are more than eager to move in. The property is zoned "General Office" use and we would need to add this type of business to the Cities permitted use via application. 

SOOO.. my big question is... am I the one who would get hit a fine if the tree company doesn't get the correct business licensing in place? As the landlord, is it my responsibility to only rent out my property to companies who fall under the correct city zoning usage?

Thank you so much in advance!

I'm looking to purchase a single family home that has a separate entrance to the basement in salt lake county, specifically Midvale, Murray, or Sandy. I want to convert it into a duplex by adding a kitchen in the basement. It would be purchased as a owner occupancy for house hacking. What are some potential road blocks I might encounter with legality, permits etc? Does Utah County have better "laws"? 

@Collette Petersen currently looking now for my next deal. Because I lived my house for 2 of the past 5 years I can do a section 121 instead, which is a tax exclusion rather than a deferral. Super stoked for this next project 

Investment Info:

Single-family residence buy & hold investment in Logan.

Purchase price: $169,000
Cash invested: $8,000
Sale price: $300,000

Bought a 3 bedroom, 2 bath house to house hack and rent out to college students. Quickly turned the extra living room into a fourth bedroom. Rented the home for over 4 years easily. With the current market in Utah I decided to sell in Fall 2021 with 130k equity.

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

I didn't know much about real-estate back then, but I did know that owning was a smarter choice than renting and throwing money away. It seemed simple enough and I feel lucky to have found a home that brought great success for my first deal.

How did you add value to the deal?

Added a fourth bedroom. New Paint throughout. Refinished the original wood floors. New carpet. Landscaping. New roof, New electrical system. Added an AC unit.

What was the outcome?

Not only did I live rent free for 2 years, but I made $100 cashflow per month during that time. After moving out the house made consistent $450 a month for another 2 years. I learned a substantial amount about property management and home repairs. After selling came out with 120k in my pocket.

@Alipate Moleni

After actively running numbers for a few months I ended up not doing any mobile home flips. I’ve done a few quick travel trailers/motorhome flips for practice and for some small $$. Still open to doing it, but finding mobile home deals hasn’t been my priority.

Have you flipped mobile homes?

@Eric Gardiner

Recycle buyers sounds fascinating, I haven’t heard the term before. Totally makes sense though! Hmmm, maybe this niche is too risky for me rn.

Eric,

Thank you for the response! Yes, it seems there a few details I will need to figure out to make my decision to undertake this project or not. Buy and hold only makes sense if I do seller financing to whomever I sell to. Thanks again!

I’m considering trying out the fix and flip process on mobile homes, first I’m spending lots of time researching my local market. I’d love some insight to the Utah Mobile home market:

Do you know of investor friendly mobile home park owners?

Are most of the mobile home parks in the salt lake area owned by larger companies?

Are there any mobile home parks that rent spots for less than $600 a month?

Has anyone else dabbled in renovating mobile homes for quick cash?

Any other insights or advice?

Thank you so much in advance!! I am incredibly grateful for this platform and for your wisdom 🙏

@Christina Haws

There’s a meetup every 1st Thursday of the month from 6-9 at club 90 in sandy. I went for the first time last week, about 30 people showed. Lots of solid networking! Hope to see you both next month

@Hayden Worwood

I have had a rental property in Logan utah for 3 years now. Ive acquired lots of beta on renting by the room to college students and house hacking if you want to chat!