All Forum Posts by: Ashley Byington

I used it when running numbers for a triplex we just bought. I used the free Rentalizer tool (the paid version provides more info) from Airdna. It provided a great place to start when analyzing whether or not we should use one of the units as a STR. So far it's been spot on for nightly rate and vacancy rate. I also looked at listings directly on the AirBnB and VRBO sites to make sure that the numbers were accurate and that the comps were similar.

I think the paid tools through the Airdna platform would be good for someone who wants aggregate data on an area where they have multiple units or for a serious investor analyzing a new market. 

@Michael Temple

I read about someone renting individual appliance to the tenant. It seems a little 🦈 shark-y to me. I’ve also read about landlord making the tenant pay for maintenance and repairs, and a that all appliances are provided as “conveniences”.

I guess to me I set the rent at a certain amount based on what I’m willing to include. And I expect a certain amount of performance from that appliance, so when the time comes to replace or repair it, I’m prepared.

I think it’s important to set expectations up front, like standard maintenance with a furnace, does the tenant or landlord change the filters. With a water softener, does the owner or tenant add the salt... etc.

@Deisy P.

I agree with what a few other people have mentioned. Define your criteria for the property!

For a cheaper property I want their income to be minimum 3X the rent. For an A Class property I want at least 3X rent for income but I also want a minimum credit score of 620. I do background checks and credit checks and if a person is in a good place now and has been showing consistency and responsibility I take that into account.

It makes me a little uncomfortable to ask, but I’ve asked for more information about the circumstances surrounding whatever happened and sometimes that can set you at ease too. Some people act irresponsible when there’s a death in the family, divorce, etc.

I think Rigby is more a mix between people who work in Idaho Falls or go to school/work in the Rexburg area. Not ALL students. We've got new townhomes under construction in Rigby so we're planning to market them to kids in Rexburg. Rigby units work really good for the families with one spouse working in IF and the other going to school in Rexburg too.

@Brian Dold you’re spot on! I get at least 20 applications after a couple days and get to be super picky with who I pick. The only time I have vacancies is when I need to paint which isn’t often!

Here's links for some local groups, they post the occassional meetups or events

 SEIREIA Group 

Southeast Idaho Real Estate Investors Group

IDREIA Group - These folks are doing an event on June 17th about flipping but not sure if it will be broadcasted or anything, I'll ask :)

I've been looking but haven't really come across the info I'm looking for. Does anyone here buy land and have new manufactured homes put on foundations, and then re-sell them? Is it profitable? What do you look for? Any creative ideas for financing a project like that? On a side note, does anyone buy manufactured home duplexes to use a rentals? 

The prices of homes in our area is going up rapidly (Idaho Falls ID) and folks that could have qualified a few years ago are now getting priced out of the market. It seems to me that it would be cost-effective to offer manufactured homes on foundations, turn-key. You can still buy a brand new townhome in an HOA for under $200,000 but not for much longer (They'll be over that threshold within the next year or so). The homes I've been seeing in the area under $200,000 are old and in rough shape.

I visited with a dealer last week and I'd be around $130,000 maybe a little higher, to get a lot, bring in utilities, pour a foundation, etc. for a 3 Bed 2 Bath home that would be brand new. They'd sell for $160,000-170,000, maybe a tiny bit higher, if it had a basement. 

Thanks for your thoughts and suggestions!

Hey Curtis, did you ever get your subdivision off the ground? I am contemplating buying lots and putting homes on foundations and re-selling them. Not really sure where to start though!

@Avery Robertson Awesome!! The class was a ton of fun, looking forward to the next one! If you need help with anything let me know 😊

I saw your response Bryce, so I figured I'd chime in too ;) 

I don't have any in Blackfoot, but all of the Idaho Falls units rent fast. There are always tons of people looking for IF rentals on Facebook too so that's a good way to find prospective tenants. 

Rexburg is even better. I can be really picky and get a ton of applicants. If I time it right I can have close to 0% vacancy.