All Forum Posts by: Amy Kendall

According to Wall Street Journal, Meridian, ID is the #1 City to live, and people are flocking there! 

Meridian, located just outside of Idaho's capital city of Boise, is 24//7 Wall St.'s best city to live in. The city is safe, and jobs have attracted growing

numbers of new residents. Only 80 violent crimes were reported per 100,000 in Meridian last year, a fraction of the national violent crime rate of 366 violent crimes per 100,000 Americans.

The annual unemployment rate in the city is also quite low. At just 4.1%, it is lower than the state's jobless rate of 4.8% and well below the national

jobless rate of 6.2%. Moreover, jobs are being added to the local economy faster than in most of the United States. The 7.4% increase in the number

of jobs from 2012 through last year was much greater than the national job growth rate of 1.8% over that period. Prospective employment is frequently the first priority for Americans considering relocation. With the strong job market, Meridian's population has been growing dramatically in recent years.

Over the five years through 2014, the city's population growth rate of 28.0% was more than four times the nationwide population growth of 6.5%.  

24/7 Wall St (http://247wallst.com/). 

PM for more details.

Looking for a second opinion. Situation. We identify 3 properties, submit offers, but they all go under contract, not to us.  Can we re-identify, or buy one not on the list?

@Todd Summers CMA is comparative market analysis, like Bill S. Stated.

Comparative market analyses is an in depth look at multiple factors comparing the subject property to recent sold properties in the area that would be very similar to the property you are looking at. People use these to determine a sales price, and also for flipping to determine the ARV or after repair value.

@Danielle Thompson 

Yes, they will count 75% of the rental income towards your DTI ratio, so if you have 100K in the bank and want to owner occupy a 4-plex, you should be able to find some financing. I have a few good quality people you could talk to see how much you could qualify for. If you are still interested. :)

@Ira Ashton  Thank you for the shout out!  I do love investing, so I am always happy to help like minded folks!  

On MLS, I bought it 10 years ago, and has been a great rental, always has cash flowed, just another example of buy and holding investments being solid. (bought in 2006 right before the crash), lost about $30K on paper, but now is worth about $45 more on paper than what we paid, and the loan pay down over the years and cash flow has been awesome!

I own a variety of investments from single families that are old, and new construction with HOA fees, I would, run analysis on each. I own one new construction that has an HOA fee of $150/ month, that property cash flows about $200/ month after a 20% expense ratio (CAP EX). I think HOA's have their place. If the numbers work on them. That place has amenities I don't have on any other property (pool, clubhouse, gym, walking and biking trails, skate park). There are all types of renters. Some people value those things other value a fenced in backyard with some privacy. I like having a variety, I think it gives me a little diversity all in the same market. I also think as a new investor I would recommend getting into a duplex or triplex or fourplex, with an owner occupy. You are going to get the lowest interest rate (investment properties tend to be about 1% higher than conventional 30yr), and lowest amount down. Just have to run your numbers. I also like the renovated or newer properties for the new investor, you then have a little time to save up your cap ex over time and not have the expenses right up front ;)

Duplex with a high end remodel in the heart of downtown SLC. Perfect for an owner occupant. Upper unit has 1 bed 1 bath but has been used as 2 bedrooms in the past. Lower unit has 3 bed 1 bath, new carpet, new windows, stainless steel appliances, granite counter tops, new cabinets, new tile, new kitchen, new bathroom, new paint, new lawn put in, newer A/C unit, updated kitchen and enclosed back porch. Property has an unfinished basement with separate entrance and laundry room. Tenants have always paid their own gas and electric.  Trax station within a 3 minute walk from the property. Property is easy to show at anytime. Duplex is legal.  On street parking only. PM me for more info.

@Prasad J. I use docusign. 

This property was on the market 2 days back in October, and apparently they accepted a cash offer on it, but they actually didn't have the funds for it, so tried to get it to go financing, but ended up not being able to execute that either. It just came back on market Friday. I have comps supporting an ARV of 250K (I have one that sold for $247,000, and one listed at $259,000 that is under contract so I will know shortly what it actually sold for), guesstimate that it will take 30K worth of work. You could easily rent this for $1495 if you wanted to use the BRRR strategy. I have no doubt this will be under contract soon, so if anyone is interested, email or pm or text me, I can send you over all the documents.