Boise Cash Flow?

[Lauren Powell]

Anyone investing in Boise starting 2024 and seeing cashflow, or did I miss the window? 

[Jason Wray]

Lauren,

You might be better off looking in Indiana and Ohio in terms of better cash flow based on purchase price. Indianapolis, Dayton, Middletown, Columbus, are all great spots to buy an SFH or MFH 2-4 unit. I just closed on a duplex in Dayton for $189K $1100 a door and have an investor closing on a 4 unit for $325K in Indy with great rents that cash flow over $1000 a month.

I have seen Indiana, & Ohio pick up some major heat over the last 3 years for investors while Boise falls somewhat short. You also have TN, FL, NV, GA, AL offering great STR and LTR options with reasonable price points. If you have any questions or want to talk REI feel free to send me a message or email I enjoy helping navigate into the positives.

[Tim Sweeney]

Hello

I'm an investor and general contractor serving Indy and Central Indiana. If you have a remodel project you want to JV on, I can be your local contact. We self-perform the construction work we like to do. So I'm not subbing all the work out if that is your previous experience. We can implement the plan and supply weekly construction reports. Let me know if that would be valuable to you or your investors.

Thanks 

Tim 

[Jimmy Lieu]

Quote from @Lauren Powell:

Anyone investing in Boise starting 2024 and seeing cashflow, or did I miss the window? 

Hi Lauren! If you're open to considering other markets, I personally suggest checking Columbus OH. The city is growing and the macroeconomics is great - lots of job growth and population growth and major tech companies moving out here and developing like Intel, Google, Amazon, Meta, etc. We're still seeing deals that hit the 1% rule, have positive cash flow, and lots of potential for appreciation. Happy to connect and answer any questions!

[Lauren Powell]

Thanks @Jimmy Lieu I'm open to other markets. Would love to connect next week. 

[Kole Bailey]

I think with Boise in particular, and the pacific Northwest in general, positive cashflow is difficult to achieve, especially for an out of state investor since the market is so competitive.

Even with boots on the ground, cash flowing properties seem to be a unicorn even when purchasing for 70 cents on the dollar.

One opportunity for cashflow in Boise is the ADU play -- new regulations make it more conducive and returns can be 10%+ cash on cash for a property in the right neighborhood.

- Kole

[Travis Biziorek]

Hey Lauren, I'm not personally invested in Boise but I know a very prominent and successful agent there. He works mostly with investors and owns 8 properties there himself.

Happy to connect if you'd like.

[Nathan Carter]

Hi Lauren, as others have said Boise is a great place but a tough market for cash flow these days. I have been investing in long-term rentals here for 20 years.  I just put two long-term rental properties on the market that we rehabbed in desirable area of West End Boise and demand is a little lower than expected. The rental market is softer than it has been in years.  There are a lot of rental units available and prices are coming down. I suspect that short term rental returns have declined due to oversupply and some short-term rental owners are switching their properties over to long-term rentals. If some of these owners decide to sell there may be more opportunities to buy properties at lower prices over the next year.  Boise continues to grow so, this excess supply of rentals will be absorbed over time. All the best as you continue your search. -Nate