Hey everyone, about to graduate from college and my wife and I are looking to get into our first house hack. Budget is around 430k, can put 20% down and are looking for anything East of I-15, between SLC and Nephi. Any advice/connections are appreciated. Stoked to be here and get started!
Real Estate Agent · Boise, ID · Member since 2017 · 565 posts · 377 votes
7mo
Love this — congrats on graduating and jumping straight into a house hack. That’s a serious head start.
With a $430k budget and 20% down, you’re in a strong position — but if this is truly a house hack, I’d at least consider lower down payment options to preserve capital for reserves or the next deal. Run it as a rental first, emotion second, and focus on properties that give you flexibility (duplex, basement apartment, separate entrance, strong room-rent potential). Make sure it still works when you move out and turn it into a full rental.
I’m next door in Idaho and work with a lot of first-time house hackers. If you want, DM me — I’ll send you my deal analysis sheet and can introduce you to an investor-friendly lender to help you run the numbers properly.
Investor · Member since 2023 · 66 posts · 37 votes
7mo
Thank you for posting this. My family and I are working to do something similar with a duplex and I'm eager to learn how you make this happen. I wish you the very best and I look forward to the great knowledge these good people are sharing here.
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
7mo
Hey Dylan,
If you need a referral, I know an agent in the area. Helped a Veteran not only do the 0% down with his lender, but got a price reduction and the seller to pay his closing costs. Of course no guarantees but that's pretty good in my book.
SLC is super interesting because of the daylight basements. I have stayed in one as an Airbnb.
The best advice is there is a lot of newer construction, but just be aware everything has a shelf life. Meaning if you buy something that is say built in 2000, it sounds great but in reality it is 26 years old. Roof, windows, HVAC, plumbing, etc. may be near the end of its useful life and therefore you need to budget accordingly.
Real Estate Agent · Salt Lake City, UT · Member since 2020 · 490 posts · 205 votes
5mo
hey Dylan! I am a local realtor, investor, and property manager in SLC! Would love to chat with you about house hacking (as I have done it myself in the area many times :))
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
5mo
Hey Dylan,
Welcome to the house hacking journey!
I actually have family in that area. If your budget allows, I would consider going up in price to somewhere like South Jordan. Newer construction and they have daylight basements that could easily be converted into another unit.
As others have mentioned, leverage is the key in real estate so the least you can put down the better. Plus having reserves is important because repairs come up all the time.
If you need a referral, I know a great agent out there. She helped a friend of mine with VA loan and negotiated the Seller to pay all closing costs and a lower price. Obviously no guarantees but it is a testament to her work. Thanks!