All Forum Posts by: Aaron Akins

@Aaron Akins I owned a home on West Mountain Road about 2 miles south of McCall. I sold it in 2019 to purchase some development land. I don't think you are going to find any properties in McCall that will generate 20% CoC. I don't use CoC when analyzing properties, but instead look at cap rates, but they are quite similar numbers.

The issue with McCall is the homes are very expensive and there are two huge shoulder seasons with very low occupancy.  Our home was 95% rented the entire summer (only vacancies were 1-2 slots between stays occasionally).  It probably only rented 65% of the time in the winter (Ice Carnival time was always booked); however, the real issue was spring time when skiing wasn't good, but boating/mountain biking/golfing/hiking was still too snowy and muddy.  We were at less than 25% occupancy mid-March through mid-June, and the same thing happened each fall.  Those months of low occupancy just kill potential profit percentages.

We can discuss further via DM/phone, but my research isn't showing anything in McCall/Donnelly with a cap rate over 3.3%, which is pretty dismal.  I agree in property appreciation, but when it's pretty high already, I feel the runway is limited.

Hey @Aaron Akins, what is your budget? I just took a look at all the places for sale right now in Donnelly and McCall and there ain't much. Lot's of lots available. Donnelly seems to be the better bet price wise.

There was one place that was already a working vacation rental with over 100k of bookings a year. 1.3m is the price. Not sure it will pencil out to be honest. 

Hey @Aaron Akins, it is a good area. I really like it but I am not sure you can get cash flow out of a property in that area at the prices they are commanding.

Hey @Aaron Akins 👋 I’d have to agree with you about long term appreciation up there. With about one house every other month coming for sale under $1M and 10 offers each time it does I’d say demand is out pacing supply. I don’t personally own up there but my wife ( RE agent ) has recently sold one condo to an investor and has another in contract right now. From the research we’ve done and what hear you make your money in summer and winter. But especially summer as winter is dependent on the snow falling. Which hasn’t been good of late. But it stays steady. The bad part is for investors is no one will take offers with a 10%-15% down unless you make up huge amounts in appraisal gaps. Two of her most recent have been cash buyers that wanted the house to double as a second home.

I know that’s not too detailed but if you have any questions I’d answer in my best opinion or what I do know. I looked at a townhouse there pre Covid for $305K and now it’s $619k. Really kicking myself now lol.

Listen @Aaron Akins, I wasn't trying to be rude, accusatory or to trigger you in any way. Too many people come here to ask questions with little information. If you want to know the questions to ask, just go to this forum and read everything. It is all here. Each and every possible question is covered.

I invest in Idaho, I grew up there and know the state pretty well. I asked so I could give a better answer that would be specific to the area you want to begin with.

Anyways, good luck with your purchase and I wish you success.