All Forum Posts by: Andrew Jensen

Hey BP!

I'm currently looking for multifamily properties in Salt Lake City, Utah, and I'd like to see some of the experience others have had in this Market.

-Is Salt Lake City a good place to invest in Multifamily?

-What deals have you done recently, and what were the numbers?

-What's the minimum cash flow you would expect from a $500,000 duplex/triplex?

Hey BP!

I'm looking to invest in small multifamily cash-flowing properties (duplexes, triplexes, and fourplexes) in Salt Lake City, and I'd like to learn from your experience in the market.

Specifically:

-What is the minimum rent (per unit) you would expect from a duplex with a $3,000 mortgage payment? (Or what numbers and what size properties have you seen cashflow?) AND...

-What are some common expenses you use to determine NOI (Net Operating Income), especially expenses that are unique to SLC?

@Lorenzo Prieto and @Logan McKay Zylstra I didn't realize there were limits to the FHA loans based on the number of units. I also thought that FHA loans were limited to first-time homebuyers. I was wrong. Great info!

@Lorenzo Prieto

Hey BP! I have a question for anyone who understands FHA loans. My wife and I are looking to use an FHA loan to purchase a fourplex somewhere in Salt Lake or Utah County, but fourplexes are a little out of our price range. So here's my question: can I partner up with someone to buy the fourplex and still use the FHA loan? If so, does that person also have to be a first time homebuyer?

Hey is this meetup still happening? If so, my friend and I are planning on joining. Just want to soak up information and get a feel for the SLC metro markets. 

Hey Jeff! This looks great! I've looked around your profile a little, and it seems you know what you're doing. I and a friend of mine will definitely be joining in your meetup if everything works out timing wise. I'm brand new to the game, and I look forward to learning from an expert!