All Forum Posts by: Allen Nida

I just bought my first house hack in Boise, ID and am beginning the process of financing (at least) 50% purchase price on a BRRRR. I will be financing for a year, but I want to be doing more than just sitting on my butt while waiting for my biweekly wage earnings, reading, and doing research.

I want to be ACTIVE. I don’t really care (at least very much) about expediting my accumulation of my initial investment capital. That money will come, and there’s a lot I can learn during this valuable phase. What I DO care about is networking and building systems and experience.

So this begs the question: how do you network and build a team when you aren’t ready to dive in?

My initial thought was bird dogging. I’m great at running numbers on properties. But I need an investor with the capital to buy those leads.

If you have any input on what I can or should do during this time, or know anyone who needs a bird dog in Boise, let me know!

@Anil Samuel So stellar. What were your means for direct marketing?

I wish I could go! Unfortunately, I’m still in the phase of my career where I have a day job, and can’t make it from Boise. If you think about rescheduling, maybe consider an online admission component so I can tune in! Best wishes and hope it goes well!

If there are any beginner investors in the Boise area that are looking to house hack, but can’t come up with the capital to get into their first deal, let’s work together. I’m just beginning my career, but am ready to make my first deal. The idea is we could possibly room together while renting out the other unit(s) to pay our mortgage while we gain experience and finance for our next deal. I really only want to work with people who are motivated and excited about building sweat equity and eat, breathe, and sleep rental investment properties. Let me know if you’re interested.

@David Olson

I live in Boise and have been trying to find a perfect house hack. There isn't one. The market is just boiling liquid magma hot right now. There are a number of mature investors and out of state investment companies that are driving up property values, but as such, rental prices aren't keeping up with property prices. I'm not saying it's impossible, but a solid fixer upper multifamily on MLS if going to be at least $250,000. After repairs, you might still have difficulty creating cash flow. You will definitely find more options at auction though! Best of wishes!

Hi there!

I’ve never posted on the BP forums as I’m just starting out as a potential investor. Below is a real world property for sale, this very moment. Properties with these numbers are common for my area. This specific property was built in 1990, so I’m assuming low Cap ex.

Duplex Price: $255,000

Taxes: $3,155 (before HOE)

Down payment: 3% ($7650)

Insurance: $800

PMI: .5%

total monthly payment: $1595

Tenant rent: $975

Roommate rent: $550

Total income: $1525

Total “income”= -$70/month

Do these numbers even begin to make sense? It seems this doesn’t even come close to passing the 1% test. This doesn’t even include the utilities for my side nor the income tax on the income from my tenant. Does house hacking at a loss make sense? I would get a roof over my head for $70/month (after other expenses). What kind of numbers would I need for this to be a valid investment in the long run?

Best,

Allen