Avenues Condo- Salt Lake City

[Zachary Bellinghausen]

Investment Info:

Single-family residence buy & hold investment in Salt Lake City.

First Property Story

What made you interested in investing in this type of deal?

First property I ever bought. I work for various Pipeline contractors and work had been good for several years. I had a hefty amount in my savings and knew I wanted get into Real Estate. I really was extremely green and flew out to Salt Lake over a weekend and bought this Condo. I really had no analysis and was shooting from the hip. I knew markets were down that was about it. I liked the condo idea, as I could manage them somewhat easily from anywhere in the country and continue my work in the

How did you find this deal and how did you negotiate it?

First property I ever bought. I work for various Pipeline contractors and work had been good for several years. I had a hefty amount in my savings and knew I wanted get into Real Estate. I really was extremely green and flew out to Salt Lake over a weekend and bought this Condo. I really had no analysis and was shooting from the hip. I knew markets were down that was about it. I liked the condo idea, as I could manage them somewhat easily from anywhere in the country and continue my work in the

How did you finance this deal?

cash

Lessons learned? Challenges?

I would not pay cash for another property but instead buy more, and borrow more. I lost out on lots of opportunity but it was a good learning experience and property until I really knew what path I needed to take.