All Forum Posts by: Aaron Williams

Quote from @Anita Hartshorn:

hi BP group - does anyone have the name and number of a real estate professional from the Boise Idaho area that specializes in working with investors? Currently we have three duplexes in the Boise area and are looking for 3 to 6 more properties preferably duplexes or four Plexes in the area thank you

 I'm a Boise native & full time agent in Boise. I've been in real estate here for 25 years. I've helped several BP members purchase investment properties here and would be happy to talk and see if I can help you out.

Quote from @Shirley Kocho:

I’m trying to find an investor friendly realtor in Boise Idaho ? 

 Hi Shirley, I'm a Boise native & full time agent in Boise. I've been in real estate here for 25 years. I've helped several BP members purchase investment properties here and would be happy to talk and see if I can help you out.

Quote from @Anthony Sigala:

We are all aware of the 1% rule--the gross rent produced by a property must equal 1% of the of the property's acquisition cost. The question being, does this still hold true for Arizona? If not, what metric do you guys use?

I have a listing in Caldwell, ID right now that meets the 1% rule. 

As well as a listing that gets .73 w/ potential to get up to 1% in Boise, ID.

And a .81 in Nampa, ID. 

Hit me up for details on these properties.

Quote from @Jonathan Greene:

Talk to @Grant Shipman about a possible different way of marketing them to the subgroup who gets it. All he does is coliving.

 I appreciate the recommendation, I'll do that!

I'm a Realtor with a couple properties listed in Boise, ID and a neighboring town for my investor/client that are currently rented as co-living or rent-by-the-room and getting killer income. (7.3% - 9.5% Cap rate) So far, every inquiry has been baffled by the concept of co-living or rent-by-the-room and immediately ask if they're being run as a halfway-house (which they are not). Each potential buyer has come to their own conclusion that it would be too much hassle and risk to manage in this fashion vs a traditional rental even though the average cap rate in our area has been half that at best. I'm surprised an investor hasn't jumped on them yet. I don't really have a question about the situation, just more fascinated at how little interest potential buyers have had.

Sounds nice. FYI, doesn't work w/ iPhone.

Why not get a bid for the whole build job so you can compare apples to apples with what's normal in the area? Or maybe your are planning to do the rest yourself?

Quote from @Casey Spence:

Location: Boise Idaho Market

Current Pay-off: 348k (does not include the 77k HELOC below)

HELOC: Owed 77k (with a 9.74% variable interest rate)

Current Monthly Payment (Including Taxes and Insurance): $2411

Term and Interest rate: 2.99% at a 30 year term 

Current Value of the Home (What it would sell for) $1.2 million

Personal Backstory

-Married with 6 kids (still at home) / 45 years old / Self Employed Plumbing Contractor 

GOALS: 

-Retire in 15-20 years with multiple Income producing Properties in my portfolio

-Be able to quit my day job and Focus on my Rentals

-THE BIG QUESTION:

-How should I use the equity in my home to purchase a rental property?

-Should I rent out my home and refinance (Rents would be $5000 per month)( (and of course my family would in turn need to rent somewhere Approx $2500/month)?

-Should I Sell and collect the equity to use for a cash flowing property (This would leave my family without a home, but would free cash for investing)?

Any advice is greatly appreciated!

Agree w/ those above. Hang on to that low rate you currently have a get the largest HELOC you can. Plus you'll only make payments on the amounts you pull out and not to entire HELOC balance. A great way to start out is by house hacking. I've found and helped several BP members get into properties that offer that as options over the years. Reach out if you'd like to brainstorm more about those.

Quote from @John Morgan:

@Michael Peralta

I’ve bought 18 properties without an agent. I just use the listing agent every time. If I like the property, I text the listing agent my offer. So much easier this way for me.

 If you're using the listing agent every time, then you are using an agent and that listing agent is double ending the deal. The seller predetermines before listing how much commission they are paying an agent bringing in the buyer. I'm not saying using the listing agent isn't a good thing. But you're not necessarily getting a better deal by doing this. Congrats on your 18 properties!

@Haiyan Xie

Yes, a STR is allowed in this area. I was born and raised in Boise is this neighborhood and have flipped and sold many houses for clients there over the years. It's a popular neighborhood with many mid-century homes. Some remodeled and many still in original condition. I'm happy to answer other questions you may have. Feel free to send me a DM.