NE Idaho wannabe. :)

[Kimberly Abbey]

I am starting the education part of my investing game. But I don't own my own house yet (primary residence). I am a would be landlord who still rents. Does that qualify as irony? lol I am fixing my credit but at this point it's a time game. I have no credit cards or car payments and only student loans to pay down which are less than 10k. I live in Idaho and because of the eclipse in August houses are selling FAST. I'm realizing that I don't have a point to this post just wanting ro get on the message board finally. Is there anyone in the NE Idaho area who is feeling my pain? Or any advice on anything I've mentioned? I'd love to sit down with someone in this area who is willing to share some insight. Happy deal hunting and happy memorial day!

[Bettina F.]

Howdy!  I am in Rathdrum, ID with my rentals in Post Falls.  I love Idaho.   I was at a meeting two weeks ago where a state economist gave a presentation on Idaho's economic forecast.  Houses are selling fast in Idaho because there is a huge influx of retirees moving into Idaho from higher priced states (Typically California and western Washington and Oregon.)

My handyman's son recently bought his first property. He was able to get FHA financing on a commercial property with ground floor professional office space (CPA) and two apartments on the second and third floors. He owner occupies one of the apartments, and rents out the other spaces. His monthly mortgage payment is covered by his rents. Try the same strategy -- look for a duplex or triplex and owner occupy to get good financing. Also look into USDA financing in Rexburg. There are special financing deals in some depressed rural communities. Happy hunting!