All Forum Posts by: Dave Barnes

@Jack Aduwo we bought it in May 2013 for $373k. I've been watching the MLS for Fourplexes in Utah County for years and I don't think I've ever seen a Fourplex for sale in Lehi - not as common there. There are several listed right now in Spanish Fork, none in Payson. Often times price will depend on size (2 vs. 3 bedroom units), condition, age, and location but honestly it's all over the board. I've never seen a Fourplex with 2 bedroom units listed in Utah County for less than $320k and I've seen the 3 bedroom unit fourplexes as high as $540k. Ours has 3 bedroom units and is surrounded by SFRs so we've been able to get higher Rents than the smaller unit Fourplexes surrounded by other Fourplexes. Hope that helps!

Thank you for the comments and warm welcome @Brooks Rembert @Mike Bargetto @Jimmy Davis & @Brian H.!!  Brian, I'd do it for free! But remember, you get what you pay for :)

My wife and I set out to buy and owner-occupy a multifamily property that would allow us to live in one unit and have the rents from the other units cover our mortgage and costs completely.  It took as a few years (the multifamily market in Utah County is priced high compared to rents) but we finally were able to close on our first 4plex in May 2013.  We've been living in one of the units for free ever since!  Now on to the next deal :)

My name is Dave Barnes from Provo, UT.  I've invested in multi-unit and student housing in Utah County.  Looking to continue to build Positive Net Cash Flow through real estate deals.  Interested in multi-unit and multifamily deals and I'm a hater of debt.  Looking to learn more and network!