North Idaho Newbie ID

[William Callister]

I am 27, and recently married. My wife and I moved to Bonners Ferry, Idaho and we really want to start building a portfolio while we are young. I had heard rumors that we should wait a year until the bubble pops. We never had a single case of Clovis in our entire county and I am worried that if we wait, there will be little to no property left for us at a reasonable price and also due to the rush, prices will skyrocket because of the frenzy. Any thoughts or advise? Thank you.

[Don Spafford]

@William Callister Welcome to BP! This is a great place to learn. Be sure to check out the webinars and podcasts and read lots of books. When you are ready, get the pro membership. It is very much worth the investment to get unlimited use of the calculators and to go back and listen/watch all of the podcasts. If the right opportunity comes along you should take it and not wait. I don't see a major drop in prices coming and people for the most part are still paying rent. But unless you get educated well, you may not know what is a great opportunity and possibly buy a buy deal. Also, if you haven't already, talk with some banks and get pre-qualified to be ready to make an offer. Otherwise, unless you have access to cash, you will miss any deals that come along as well. If you can find a house-hack opportunity in your area that would probably be the best way to get started for the lowest cost and help you save more money going forward for your housing costs.