All Forum Posts by: Jeremiah Maughan

The first Wednesday of every month is our Utah County get together! This month the topic selected by the group is "building a team". Having a team to find the deals, and having a team to preserve your deals, are both important. In addition to people who can help you BRRRR your deals, you'll want to look at various types of legal, accounting, management, and financial planning resources. Come share your experiences with these different service providers, what you've liked and what you haven't. Collective experience sharing together makes a big difference!

@Account Closed So long as the group of friends doesn't exceed the total number of allowed singles.  For example, in Provo the limit is 3 singles, so you could have two in one part and one person in the accessory.  In general, three singles won't want to pay what it's worth, so that's why it ends up only working for families who are related.

Harder than if it were a duplex, but similar to trying to rent a larger home.  We just include in the ad details to point out that possibility.  Something like "mother in law apartment perfect for your extended family" or something to that effect.

First off, glad your accessory is legal. That's the biggest hurdle.  Most of the cities are getting pretty good at closing loopholes though so don't plan on doing it as a true duplex.  Provo for example, actually defines an owner occupant as having at least 50% or greater than 50% ownership because landlords used to do the ownership thing back in the day.

The best "loophole" is to rent it to one large/extended family.  That doesn't always work (cousins don't count in Provo), but the best way to use an accessory apartment as a duplex is to rent it to a single family and their relatives.  We've had a number of situations like yours where we rented it to a family, and then the accessory was occupied by a married adult son/daughter and their spouse.  You can charge very nearly what you could get for a fully recognized duplex in those cases.

Would love to have you @Dharryl Maiava.  Just bringing yourself is great!

We meet in the training room @Greg Lemmon .  It's in the basement meeting room of the Vision Real Estate offices, 495 N University Ave Provo, Utah 84601.  Would love to see you there!

@Chris H. I just posted the April event. Sorry i was late getting out!

Here: April Utah County Meetup

The first Wednesday of every month is our Utah County get together! This month the topic selected by the group was "how to find deals".  This is one that would benefit from everyone's collective experience sharing together.  Whether off market, on market, wholesale, friends/family, there are lots of places to find properties to buy, but not all of them are deals.  So we'll being doing a round table discussion to share how each of us have found deals in the past and where we are looking now.

Yes, you identified correctly.  The A-designation is specified on those zoning maps.  The city is always willing to take calls too if you have any specific questions.  Make sure you follow the approval process though if the property isn't already designated.  The four off-street parking stalls is usually the hard part.

Hey everyone, we've got our next topic coming up next week. We were originally planning to talk about taxes, but as you might imagine all the CPAs are super busy with tax season. So we're thinking to push the taxes to a later date, perhaps in the late summer or fall when most people do year end tax planning. Since we'll be coming up on the rental season soon, I can teach the Apartment Association's one hour class on property management. It's a great taster of what it's like to be a landlord. What do you all think about that?  I've got some terrific pictures you all are going to love...