Boise proving to be better investment market than Seattle

[Bryan Vukelich]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Boise.

My brother and I purchased this property via a 1031. Wanted to escape the new regulations Seattle was implementing on landlords and we thought Boise would be better environment. Thus far we have been right and have been able to increase rents by over 20% since acquiring.

What made you interested in investing in this type of deal?

Previous owners was a small group of people which included the builder of the property. They had not raised rents recently and there was a disagreement between owners on how to manage the property.

How did you find this deal and how did you negotiate it?

Found it through a contact we have in Boise.

How did you finance this deal?

Bank financing - 5 yr fixed.