Looking for advice and help to purchase a home in the Area. I will be moving with in 3-4 years and would like to make it a rental property at that point.
Rental Property Investor · Vineyard, UT · Member since 2017 · 47 posts · 40 votes
9y
Hi Kyle, I live in Provo and work with an investors agent. We specialize in new/newer construction rental properties and also manage properties for our investor clients. Let me know if I can help in any way :)
Rental Property Investor · Lehi, UT · Member since 2015 · 195 posts · 133 votes
9y
@Kyle Donnelly Just want to make sure I understand correctly. You are moving to Utah County now, but will move away in 3-4 years, and want to keep it as a rental after that. I'm not a Realtor, but I could help with financing.
A lot depends on how big of a home you need and how much down payment you have. If you want a no money down loan, you will need to go single family. There is one no money down program that I have seen that will allow a duplex, but the rules are strict. If it works, it would be great because it is a Grant for the 3.5% down for an FHA loan that you wouldn't have to pay back.
If you have 3.5% down, you could potentially buy a Triplex or 4 plex. Just keep in mind that prices here are a lot more than in most areas of Texas. A single family will run you from $200,000 to $400,000. A 4plex is $600,000 to $850,000.