All Forum Posts by: Ajay A.

Wow, Thank you everyone,

@Jeff Rappaport, thanks for your informative reply. I'm feeling a little less scared investing outside my neighborhood. @Paul Timmins, completely agree, I need to network more, so I'm looking up REI clubs online, and I'll look into the property management sites as well. @Diala Taneeb, @Matthew Foster, thanks for the advice on RE websites. Property taxes are not that easy for counties other than Ada, I struggled for a good 30 mins with Bannock county assessors website, but I couldnt manage to extract the property value or annual taxes, anyway, I'll try again tonight. Clayton, Jonna, thanks again

Hello Idahoans!,

I'm a newbie investor to the great state of Idaho. Need your advice on the Real Estate market in the Treasure Valley. Most of the properties on Zillow, Trulia and Realtor.com seem to be a poor deal and gone quickly e.g 2 properties I analyzed using BP rental calculator had cash flow of $200 to $300 as a pure rental. I'm looking to buy and hold rental properties but I would prefer house hacking. 

Would you say its time to look elsewhere for good deals? (e.g. Idaho Falls, Pocatello, Caldwell?)

Anyone know if Pocatello is a good place for buy n hold rentals? What about Caldwell?

I analyzed one 4plex in Pocatello which gave me a cash flow of $500, but I stay about 4 hours away, so I will have to hire property management. I'm just not feeling confident right now investing in the Treasure Valley seeing prices that seem excessive, but still gone in a week.

Hoping to hear from people who have much more experience than me. I'd be grateful for any feedback

Thank you, @Jack Aduwo, @Ryan Anderson and @Cheri Banet,

I'm grateful for your replies, and since no-ones browbeating me on my flawed analysis, happy to be in a place where mistakes arent just laughed at.

I agree with your views. 65% is too large a down payment. I got up to that number trying to reduce my mortgage payment (and therefore artificially increase my monthly cash flow), The flaw in that it is I will be tying up a large portion of my cash reserves which would be better spent acquiring more investments.

House hacking, just through analysis of a few properties I found online, seems like the better option to me as well. I'm a little hesitant on that because my people skills arent that great. Most of the time I'm a computer nerd, spending little to no time interacting with people. I guess I got to learn someday...

Congratulations Cheri, on setting your goals and stating on track. My business plan just got done last week (It fit in a single spreadsheet), I'll start working on my goals next.

Hello Everyone,

First post from a newbie, so please go easy on me :)

I'm looking for properties in Idaho and my strategy is going to be either BRRR (buy-rehab-rent-refi) or

house hacking (if its convenient enough. I did a rough analysis using 50% rule, but not sure how to do the same kind of analysis for house hacking.

Lets say its this property at 123 Turner St.

Purchase price : $74,900

Offer price: $60,000

Down payment: $39,000 (65%)

property tax: $972/yr.

Insurance: $132/yr.

Property Type : Duplex (Owner Occupied)

Monthly rent from second unit: $410

Repair costs: Looked clean from the pics, estimate $2000 for new carpet and old wooden cupboards

Now, If I were to BRRR, and not live in it,

Including all costs should give me a cash flow of $218/mo

How would I analyse it for House Hacking? Just use one unit's rent? Or do I add in the current rent I'm paying since I'd be staying rent free?

If I use 50% rule and only use rent from 1 unit (since I'll be staying in the other) I get a cash flow of $13/mo. (woohoo! ;-) ) , with the additional gain of living rent-free,

If I were to add in my current rent ($655/mo.) to the rent from 1 unit, it would give me a cash flow of $340/mo.

I'm just trying to compare strategies here (BRRR vs House hacking) and not sure if I'm doing the right kind of quick analysis. Appreciate any assistance, Thanks!

Jonna,

Thanks for the tip, I dont want to rush into my first deal either :)

Look forward to meeting you, this is a wonderful place to be (that goes for the site and the city)

Thanks guys!

@CodyStone, you werent kidding about the podcasts. Fortunately I've already decided on my niche.

Wow, thanks @PaulTimmins and @SteveSmith

Yes, I'm still trudging up the mountain of material..., Good to see so many helpful people here

Thank you Trexie

Hello Everyone,

I'm a new member to BP from Boise, Idaho. I'm a beginner to real estate investing. Interested in multi family rental properties, buy n hold investing. Currently reading and listening to BP podcasts. Looking for any and all advice before buying my first property,

Thanks!

aj