Looking to network with investors in Boise

[Gordon F.]

Hi everyone, I’m looking to meet face-to-face, shake hands, and network with people in Boise to discuss deals, etc.  I’m from Texas, looking at Boise as one of my top investment targets, and I’m headed up there in December to visit a good friend who just recently moved there.  I’m focused on buying notes, but honestly, I’m just trying to get some good people I’ve met up there as part of my network.  The dates are flexible, and I was hoping to have my trip coincide with any events going on in the area.  Doing a little searching, I didn’t find much.  Are there any December meetups you guys are attending or know about that I can plan to attend?  Absent any known events, are any of you on this forum in seller financing or notes and would be interested in meeting up for lunch or drinks?  I appreciate any help!

[Jason Bohling]

Very accurate.  I go to open houses in the area to see what people are looking for, because it’s fun to me, and to talk with the agents to get their opinions on things.  I attended a couple back in August, and both agents said what they’re seeing in their respective agencies is in Ada County which is the ‘epicenter’ of the Boise metro area and which holds some of the largest/fastest growing towns such as Boise, Meridian, and Eagle was their stats were showing 7 out of 10 buyers were from out of state, 5 of those California specifically, most were all cash purchases, and they were seeing increasing numbers from the Seattle, Denver, and New York City/North New Jersey metros.  

A buddy of mine who’s family have been residential and commercial contractors in the valley for more than 40 years said what’s happening is when the market collapsed in 2008 residential construction came to a complete halt.  The population was growing still which created a housing shortage.  For nearly 3 years almost no new homes were built.  Then the influx of out of state buyers began which created a bigger shortage and it just kept accelerating.  So now we have a massive housing shortage and there’s not even enough construction crews or contractors to the point we’re seeing some coming in from out of state, and they couldn’t keep up with the demand for those who already lived here to begin with.

A notable amount of people who work in the tech sector who work remotely are coming in as well.  Boise has always had a small but growing tech sector with Micron being from Boise, facilities from Hewlett-Packard, and now Amazon is supposed to be putting in a nearly 1 million sq ft distribution center in Nampa (a town 30 minutes South of Boise) which will employ in excess of 3,000 people.  The Boise metro area has grown from about 465,000 in 2000 to around 715,000 today.  

Hope this gives you some perspective on the area.  If you have any questions just let me know.  Happy to help anyway I can.  Oh, and I could also tell that this place was growing because now when I say y’all people don’t look at me funny anymore and sweet tea is fairly common in restaurants now!