100k in the Bank

[Michael Ellis]

Hi guys!

My wife and I have 100k in the bank and steady income streams. We aren’t sure what the best plan of action is. Should we invest into duplex or fourplexes  or get into single family homes for a first investment property? We are in the Boise Idaho market and would like any info!

[Caleb Sonneman]

Quote from @Michael Ellis:

Hi guys!

My wife and I have 100k in the bank and steady income streams. We aren’t sure what the best plan of action is. Should we invest into duplex or fourplexes  or get into single family homes for a first investment property? We are in the Boise Idaho market and would like any info!

Hey Michael! I have family in Coeur d’Alene. Love ID!

It’s hard to have a black/white answer for your question, because there are many variables. What is your goal? (Begin with the end in mind). How’s your risk tolerance? (More doors = more work/risk). At the end of the day, ID is a strong market, so as long as you get started, and stay in the market 5/10/20 years, you’re going to win.

My advice would be to start small, either a single-family or a duplex. The learning curve is dramatic, and you are going to learn A TON on your first property. Build off that, but the most important point, is that you get started. Get in, don’t fear failure, expect to learn, and pivot as needed. Good luck!