All Forum Posts by: Brandon Rindlisbacher

Michael Douglas Christensen good to have you here on BP. Welcome! Glad to see more members from Utah! I'm always happy to chat as well. PM me anytime.

Jake, it sounds like you've got a good plan. I'd enjoy chatting with you sometime. I'm also wanting to do more rehabs and flips. PM me if you're interested.

Ryan,

Sounds like it could be a great opportunity. I may know which 4-plex you're talking about. There are a few of them on Main and I know Springville pretty well. 

If it's already a 4-plex, there's probably not much the city can do to make you comply and change it to commercial. It's a nonconforming use (4-plex in a commercial zone). So I'd bet you can keep it as is, but the chance you have to convert the units to commercial offices or something, is unique. 

To figure out what a unit would lease for, many times, I use KSL and Craigslist to find comps. I just took a quick glance at a few for you and see that prices seems to be in the $10-12/SF/Yr (per square foot per year) range. This was a quick search without a lot of research, so I'd recommend digging in a little deeper if you decide to do the deal. 

I enjoy commercial real estate and do some commercial leasing and sales on the side. If you ever want to chat more, send me an invite and PM me. Good luck Ryan!

@Matthieu Miser good to have you here on BP. It's great to continue to see members from Utah. Sounds like you're ready to jump in and get your feet wet. I'd enjoy connecting with you. PM me if you're interested.

Barrett, the Utah county website will tell you the physical address of the property along with the mailing address. I usually drive to the mailing address (if possible) and speak to the owner face to face. If they're interested in selling, you may have yourself a deal and if you're lucky, they'll consider seller financing and are some other creative purchase method. I'd enjoy connecting with you to discuss more. PM me if you're interested.

Hi Denis Clijsters welcome (soon) to Utah. I am interested to know about your plans. PM me and let's talk more.

Good to have you here @Jesse Casillas. There are some great connections here on BP and lots of resources. I'm sure glad to see more and more people from Utah County on BP :)

Bryce, it sounds like this is an old house. I looked it up and it was built in 1924. Usually houses that all need some initial fix up to get them looking decent for tenants. This might include just replacing the carpet and some paint, but it may have a leaky roof or something more extreme. This needs to be investigated and accounted for in your initial costs. Also, you listed the purchase price and your calculations as the full listing price. I would guess that you could negotiate this down and get it for a little less. Other than those two items, and the utilities that we're already mentioned, I think you did a great job on this analysis.

@Mike Krog welcome! Good to have you here and always glad to see locals (Utah) on here. I would suggest checking out the Ultimate Beginners Guide to Real Estate Investing. Again, welcome! Hope to see you around the site!

@Jason Larsen, I don't believe that you have to become BYU approved to rent to students. I recall having involvement with some student housing that had a mixture of BYU and UVU students (back in my property management days). I believe one of the benefits of being BYU approved is being able to market to those BYU students that specifically look to live in approved housing. Good thoughts @Jason Larsen.