Managing expectations in a changing market

[Erin Hogue]

As an active investor in the Boise, ID, I'm curious how others who have also been investing in BOI (or like sized smaller markets that are now blowing up) for an extended period are managing expectations and business model. The ship seems to have sailed on the days of buying a turnkey investment and cash flowing day one (with limited money down). Don't get me wrong, I know deals are still out there, you just have to be patient and look harder. 

That being said, what are you doing to adjust your business model to combat the changing and rapidly growing market? At a recent open, I was speaking with an agent who said his out of state investors are now putting a minimum of 25% down, which goes against the philosophy of putting the least amount down, then let renters cover the spread. Are you exiting hot markets in search of the up and coming instead? Is purchasing fewer properties the answer? Are fixers an option instead, albeit more risky? What creative solutions are you implementing? I recognize there are a million ways we can take this, and there is no one size fits all answer - but just curious what changes others are executing on, as well as what's working and how it's impacting your long and short term strategies?