All Forum Posts by: Wayne Williams

by a second property for cash flow. where are the best high cash flow makets near Salt Lake City? i hear Vernal is good but i don't have any info on there. 

Thanks for the info! considering

new builds vs rehabbing on my next house hack but i feel its a great time to build

I am considering new construction. If I buy a lot cash how much would it cost to build a 2-4 unit?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $320,500
Cash invested: $10,000

Acquired with 0 down. 10k in DIY upgrades to turn basement into a basement apartment (MIL). looking to BRRRR this deal into our next purchase in 2021.

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

There is a separate basement entrance so I knew by adding a kitchen and working the space it could be rented t cover the majority of the mortgage.

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

MLS listing. negotiated with bank loan a little over asking and had sellers pay closing cost to get in for 0 down.

How did you finance this deal?

Cypress Credit Union conventional loan.

How did you add value to the deal?

cosmetic upgrades as well as adding a basement kitchen.

What was the outcome?

Rented

Lessons learned? Challenges?

pay for speed

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

Realtor Steve Ostler was awesome as well as my lender Jimmy with cypress. I highly recommend them both.

I love st. George for both ideas but I’m looking into long term down there. Still need to visit but I’ve heard a lot of good things about the area!

as for the dog. If you get a house with a separate basement entrance I don’t see you having a problem. For example mine is 2 br 1 bath up and down. So my tenants wouldn’t be near any animals I have. Unless it’s out back 

Hey I live in millcreek! I just closed on a house with MIL unit for 0 down. So it’s doable. 

@Amy Kendall thanks for replying I’m looking forward to going to some meet ups when I’m back from New York 🏆

Hey are there any meet ups in the Salt Lake City area?