All Forum Posts by: Mark Taylor

My house is about 3000 square feet. A ranch home with 1500 up and down. In the basement we blocked off 500 sqft for our kids play room and then the other 1000 sqft is a basement apartment. It cost about $10,000 to remodel it to make it a separate apartment. We cut a door by cutting a window all the way to the ground and the kitchen and bathroom plumbing mostly existed. It’s a 1 bed 1 bath we rent for $1050 flat (utilities included). I think it’s worth it. We’ve been renting it for 6 years. Good luck!

What tools have you found useful when mapping out your goals and ultimately achieving them? Did you:

1. Estimate a sales funnels for leads?

2. Work backwards from your goal to bite sized parts?

3. Other please specify

Thanks!

I bought a house with a mother in law apartment. I’ve been clearing almost the whole mortgage by renting the basement but we’re planning on buying a new house and moving. The house is in R-1 zoning so I can’t technically rent it as 2 units. Do I:

1. Rent it top and bottom illegally

2. Rent the top for the value of the top and bottom and encourage them to sub-let the basement

3. Some other strategy that I haven’t considered.

Thanks

Thanks Mindy! I was able to open it.

I am looking for multifamily properties in 84010, 84014, 84054, and 84087. Let me know if you would be willing to sell.

Thank you,

Mark

I've had a problem the last two weeks, I click the link and it says the webinar is expired. I'm able to watch it the next day though so it's not a huge deal. Thanks for the webinars!

I've lived in Salt Lake or the suburbs my whole life and I'm still learning about the market. Analyze everything that comes up on KSL.com and Craigslist and some of the daily listings from the MLS. Demographers are projecting big growth in the next couple decades. Past performance isn't a guarantee of future results, ha, but it's a great place.

Check KSL.com classifieds. In Utah craigslist isn't the best source of rental ads. I'd be happy to be a sounding board for rentals you find. Lots of people rent their basements close to the U which could be the way to go. My wife and I lived in Harvard/Yale, Holladay, and Bountiful when we were at school or working at the U.

Hello BP community, I've now listened to 40 different podcasts and have kept mostly true to my buy and hold strategy, but there are so many other great strategies that could help me generate income. What questions did you ask to help you solidify your real estate investing plan? How do you keep on track with your plan? How do you avoid the shiny object syndrome? Thanks, Mark Taylor of Bountiful, Davis County, Utah

I have just recently started looking as well and I am not finding anything that meets my chriterea either.