239 Ashbrook-Midvale UT
This is a new listing for all you buyer fans and I have to tell you that I highly recommend this property (yes, I know, I am biased because I am the listing agent).
This property would be classified in our Live Free area, homes where you can have a rental to help partially cover your mortgage.239 Ashbrook Listing Info and Video
One of the unique benefits of this home, is that the basement (complete with separate entrance) is currently rented and because the homeowner declared it on her taxes….you can actually use this income to help qualify for the property! So, if you are planning on using this as a primary residence…you can use FHA with it’s lower down payment, have a fabulous home, and get help with your mortgage payments each month
(Give a big Woot Woot here.)Other Live Free Properties
This twin home has 2200 square ft, 2 bd, 2bth on the main floor, then the mother in law (rental unit) in the basement is 1 bd, 1bth.
You will find separate kitchens and laundry areas in the upper and lower floors (all washers and dryers included) so there is complete separation (and privacy) in the 2 units.
CALL us to schedule a time to see this property at 801.819.9005.
Don’t forget,
CALL Us With Questions at 801.819.9005
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Charts Schmarts…What’s In It For Me?
Now you all know that I am not really into the financial statistics and well just the financial aspect of homebuying…that’s just plain boring (so I leave that up to Steve cause he actually Likes that stuff)…anyway,
Read MoreUgliest Homes In America
We always tell our buyer clients to visualize what the home would look like and to tune out the clutter. Well, guys, if you can do it with these homes…You win the prize for being the most CREATIVE visualizer we know!
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See The Ugliest HomesScan The QR Code
Got Questions?
Text or call us at 801.819.9005
Read MoreLive Free-Homes In Salt Lake
Bet you are wondering how this all works, cause You, as a first time homebuyer, can purchase property and have someone else pay your mortgage.
There are properties here in Salt Lake, Tooele, Utah Counties that fall into the first time homebuyers price range that are single family homes with what we call “mother in law” or accessory apts, and multi-family units such as duplexes, tri plexes and four plexes. These properties can be purchased using FHA (that means only 3.5 % down), and utilizing all the first time homebuyers programs, as long as you live in one unit, but you can rent out the others.
How does that work for you?
Well, you qualify for your mortgage with FHA just like normal, but with the advantage of adding the rental income into your qualification. So, you can actually qualify for more house with the same income. (call me for details on that one).
So, for an example, with a mortgage payment of say $1400 ( principal and interest, taxes and insurance), if you lived in a duplex or a single family home with a mother in law apt, you could rent the other side for $750 to 800 and be paying only $ 550-600. A Tri plex or 4 plex could have all your mortgage paid and be paying you a monthly income!
Great Part About Buying A Multi Family Property
The great part of this scenario of buying the duplex, tri- plex or 4 plex is that you are establishing your own rental history as well as getting paid (not a bad deal) and after a year or so, you can keep that duplex, tri plex or 4 plex as part of your portfolio and move on to a new home. Now you can qualify for a larger home because you can use actually use the rental itself as well and it’s income as leverage to help you qualify.
In addition, if you are in a positive cash flow before you decide to move up, use that money to save up a down payment for your new place.
Now, there are good’s and bad’s to being a landlord, so you should think this over and weigh the options carefully. But if you want to get a leg up in the passive income area and start your portfolio for say retirement or college fund or …the yacht you want, purchasing a duplex, triplex or 4 plex property, living in one unit, then renting out the others, is a great way to go!
The trick is buying it right…and that’s where we come in. We can help you analyze the cash flow, and buy at the right price to help you meet your goals! If you want to try it out…give us a call…we will be glad to discuss options with you! Now…click the link below to get started!
Read MoreFixer Upper Homes In Salt Lake City, UT
Fixer Uppers are a great way for first time homebuyers or in fact any homebuyers to take a home in need of a little “TLC”, add your own personality and style and make a home not only speak to you, but increase in value as well.
If you intend on making your fixer upper home your permanent residence (owner/occupant), there are loans 
available such as FHA 203k loans that allow you not only to purchase the home, but get the money to make the repairs and improvements as well.
Rehab Homes that need your attention and love (think Charlie Brown Christmas tree here) come in all sizes and conditions, so no matter whether you are thinking a little paint and carpet or you are buying your sledge hammer as we speak to gut and rebuild, start here with finding your fixer upper home. Fill out the form below, and gain instant access to homes that need tender loving care in Salt Lake. Oh, and if you have questions, call or text us at 801.819.9005.
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HVCC Issues Finally Coming Under Fire? Why so Late?!?!
Here is a great commentary on the problems that have been caused by HVCC. We have had our own personal trials and tribulations with appraisers being flown in from Arizona…yes, Arizona (since when are we Remotely anything like the Arizona market here in Salt Lake?) and being brought down from Hooper (a definitely rural area I might add) to appraise a condo in urban Salt Lake City (he did not even use a comp in the complex that had just sold…ok, calm down Debbi, your intent is to inform here)
Anyway, watch the video and let me know what you think!
Oh, and if you are braving the whole new world of homebuying, give us a call at 801-819-9005. We can help you ! Or Start here by creating your profile and begin your search for homes.
Til later…ciao!
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