All Forum Posts by: Murray Gale

Thank you for all of your advice. Each of you made really good points, and explained the concepts of SFH and multiplex homes.

I talked it over with my wife, and for now, it's probably better to pay off some debt and better our credit score. My credit in Canada was very good, but unfortunately that credit doesn't follow me across the border.

I will be in the game soon, but on the right terms. I am hoping to learn from a few people how the business works. Hopefully the connections I make on this forum and platform will introduce me to some good quality people, honest in their dealings, and are willing to share any knowledge they have. As much as I have read, nothing compares to being "mentored" by those currently in the field.

Thanks again! I will be sure to post other questions on the forum.

Thank you Bryan. I think you're right. That feels like the right thing to do. I'll have to read up more about a "HELOC" and a "SFR" rental (I assume that's a single family rental).

Thanks again.

You didn't put me down! Makes perfect sense. I have never gone through the buying business, have never owned a home, etc.

How did you start?

Bryan, can you give me reasons for doing that? My wife would be happy with that answer!

Thanks guys! I was hesitant at posting something, as I'm sure you are all seasoned veterans, but it's nice to know that this forum actually works!

Hopefully you all won't mind me asking questions along the way? That is how I learn.

I am currently reading the guide, and as far a vehicles go, I'm more drawn to the 1-4 unit properties.

I still have to seek out possible team members (but I figure that will come along during the whole process). Currently working on possible realtors and an accountant.

I went to look at a duplex that was listed at $225,000. Initially, the property was listed at $229, but over the past couple of months the value has gone down. The area was not ideal (literally a "new" development of 6 duplex units) within an older neighbourhood.

The current landlord charges $700/month, which doesn't work out for me with my current down payment amount.

There are a few income property single units that might need a bit of work, which would be more affordable when considering property taxes, etc. I also feel as though the tenant rent would cover most of our mortgage payment, but would also allow us to afford the home if there was a vacancy.

Thanks for the quick reply, guys. Would you suggest going with a duplex, instead of a single family unit with an income property?

I actually work for USU, so I have my fair share of Aggie Blue!

For years now, I have wanted to get into the real estate business. My family and I have moved from Canada to Utah (Cache Valley, Logan), which means I essentially have zero credit, as we're starting all over again.

I have read through many of the posted blogs, read many of the discussions, but need a little bit of direction.

I currently have enough for a small down payment on a property. However, my wife and I have never owned a property before (rented for 10 years). Would you recommend financing a single home as opposed to a multi home?

This is very basic, and I know my knowledge is very limited. I've tried reading as much as possible, but I'm more of a "do it yourself" kind of guy, looking to get my feet wet. This will not be a hobby for me.

Any advice would be greatly appreciated!