All Forum Posts by: Justin Pirir

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Orem.

Purchase price: $311,000
Cash invested: $12,000

Contributors:
Cherie Orellana

This property has (2) structures on it: a studio in the back and the original home up front with an upstairs and downstairs space that are separate. The upstairs is a 2 bed/ 1 bath that rents for $1,300/month. The Downstairs is also a 2 bed/1 bath that rents for $1,000/month. My wife and I live in the back studio space which consists of 2 studio rooms with high ceilings and large north facing windows and 1 bathroom. We enjoy living for free while our renters pay for the mortgage and utilities.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My wife and I were looking for a place where we could live and rent to ease the burden of the cost of living, and Cherie once again delivered when she helped us find this place. This is the 2nd property that she's helped us out with. Acquiring this property proved more challenging than the first because I had purchased my first house only 6 months prior. Regardless of the challenges, Cherie helped make the deal happen and we were able to find a lender to work with us. Another great experience!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Orem.

Purchase price: $311,000
Cash invested: $12,000

Contributors:
Cherie Orellana

This property has (2) structures on it: a studio in the back built in 2011 and the original home up front with an upstairs and downstairs space that are separate. The upstairs is a 2 bed/ 1 bath that rents for $1,300/month. The Downstairs is also a 2 bed/1 bath that rents for $1,000/month. My wife and I live in the back studio space which consists of 2 large studio rooms with high ceilings and large north facing windows and 1 bathroom. We enjoy living for free while our renters pay for the mortgage and utilities.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My wife and I were looking for a place where we could live and rent to ease the burden of the cost of living, and Cherie once again delivered when she helped us find this place. This is the 2nd property that she's helped us out with. Acquiring this property proved more challenging than the first because I had purchased my first house only 6 months prior. Regardless of the challenges, Cherie helped make the deal happen and we were able to find a lender to work with us. Another great experience!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Murray.

Purchase price: $300,000
Cash invested: $9,000

Contributors:
Cherie Orellana

Property consists of (2) unit spaces. The front is a 3 bed/2 bath that required minimal updates prior to renting. The rent for the front unit is $1,760/month which covers the cost of the mortgage and a portion of the utilities. The back unit is a 2 bed/2 bath and is currently being remodeled. Upon completion, this unit should rent for about $1,200/month. Both units have their own yard space and are comfortably located in a central location of Murray: near the hospital and close to I15.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Cherie Orellana is a friend that I met through work. She has been exceptional in finding and helping in the process of acquiring this property. For this being my first home purchase, she set my mind at ease from the stresses that arise from this type of investment with her expertise/knowledge. I'm very happy with this investment property and will continue to use Cherie when i decide to purchase my next property.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Murray.

Purchase price: $300,000
Cash invested: $9,000

Contributors:
Cherie Orellana

Property consists of (2) unit spaces. The front is a 3 bed/2 bath that required minimal updates prior to renting. The rent for the front unit is $1,760/month which covers the cost of the mortgage and a portion of the utilities. The back unit is a 2 bed/2 bath and is currently being remodeled. Upon completion, this unit should rent for about $1,200/month. Both units have their own yard space and are comfortably located in a central location of Murray: near the hospital and close to I15. What's nice about this property is that it was previously recognized as a legal duplex property. Once the property is recognized again as a legal duplex, there should be enough equity to offset the need for PMI.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Cherie Orellana is a friend that I met through work. She has been exceptional in finding and helping in the process of acquiring this property. For this being my first home purchase, she set my mind at ease from the stresses that arise from this type of investment with her expertise/knowledge. I'm very happy with this investment property and will continue to use Cherie when i decide to purchase my next property.