Advice on house in Salt Lake City

Advice on house in Salt Lake City

Member since 2020 · 1 post · 1 vote

Hello everyone! I am new to BP, I have been reading and listening to podcasts the past couple of months and I just fell into a situation in which the owners of a house bring rented are wanting to sell. I am considering buying it as a house hack and will be calling a bunch of different brokers and local credit unions/banks to see what kind of rate I can get. Any advice or tips would be very helpful! They are wanting to put it on the market early January.

Some information about the house is as follows:
Salt Lake City, UT in the Millcreek area / 2,228 sq ft / 4 bedroom 2 bath / asking price is planned at 649,900 / in a decent neighborhood and a good school district / rent would be $2500 a month with the possibility of raising it slightly.

Thank you all in advance! PM with any information

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  • Investor · 84123 · Member since 2020 · 50 posts · 27 votes
    5y

    @Carl Turner I would defiantly get with a good real estate agent that is focus on investment properties.  This might be a good deal us your own home but as for rental the numbers don't seem to add up.  My guess is your mortgage is going to be around $4,000 + a month alone. Unless this is a duplex and can rent each side out for that amount.  

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