Every investor starts somewhere. This is where it all started. 

It was 2019 and we had the choice to rent or own. After running the math we would be paying about the same amount either way, but if we bought then we could own real estate. If we rented, that cash would go to the land lord. Which for us would mean it would evaporate into the ether every month. If we owned part of our payments would go to interest and the other part would go to equity. Though it would be a small amount to equity it would act like a savings account that is affected by the market. 

I saw where the Utah real estate market was trending and knew that if we got in we would see appreciation in the next few years. 

It was a good move. We purchased a twin home. We put about $7k down on a $235,000 twin home. 

We lived in it. We raised two kids there. Maintained it. We repainted. We put a new roof on using an insurance claim after a heavy wind storm. Minor value adds with a focus for keeping the market value.

While we lived there the field in front of us was developed. We saw improvements go into the ground. Streets, sidewalks, and then they started digging foundations. Soon enough we had a whole new subdivision with new home sales adding to our homes value. 

Seeing the value go up made me realize that there was power in investing in real estate. We looked into how we could accelerate our debt pay down and found the group Replace Your University (formally Replace Your Mortgage). We learned how we could pay our home off in less than 7 years by applying a technique called velocity banking. This all fueled Luke’s desire to become a real estate investor. 

In December 2021 we sold that twin home for $340,000 and cleared a six figure net profit. 

Real estate was clearly a great way to grow wealth. I didn’t know it at the time, but my observations of the developments happening in the neighborhood were a factor in helping guide my decision to go into land development.