All Forum Posts by: Anna Strausbaugh

Hi! We opted for the Yale lock because it works with all of our Nest stuff for the house. It's one system for everything. We have a Nest thermostat to monitor the temp in the house and Nest security cameras on the exterior. The Encode is the most popular for STR's though, but we like having everything connected under one app for the whole "Smart Home" experience. Hope this helps!

I agree, if you can house hack, you should totally do it. It's a great way to get into real estate and build equity. Start out renting rooms while you live in it (covering most if not all of your mortgage), then eventually save enough to buy your next place and keep the first one as a rental and keep going from there. You may even have enough equity in it once you've fixed the place up to do a cash out refi and use that equity to buy the next place. Let me know if you have questions on how to do it and if you need any help!

@Chad Reynoso, I'm not a property manager but I own several rentals and there aren't required forms to get a unit leased up (besides a written lease). There would be some required steps for evictions and such, but if you ever got to that point you'd want to consult an attorney or hire a property manager to do that for you. I have an awesome PM if you want a recommendation of someone to handle all of it for you!

 Thanks! Bummer that Best Ever Conference just started today!

Hi All! I'd like to attend some real estate conferences this year and was wondering if you have any that you'd recommend. BPCON is definitely on the list, but what others do you like? Thanks!

I think your question was whether or not what you look for in an ideal market has changed, not so much if your ideal market has changed over time (ie. the examples of how CA changed other states, like it has changed Idaho). I'm in the Boise market and it has changed significantly over the years. With that change, yes, I think some of the things I initially looked for in an investment have changed. I used to pass up properties that didn't have the highest cash flow, even if they were in a great area because I was chasing cash flow. But eventually we pivoted our strategy to focus on nicer neighborhoods that will hold their value, appreciate well and will be easy to sell when the time comes. These are also easy to rent and have higher quality tenants, but less cash flow on a monthly basis. Don't get me wrong, I still want to buy cash flowing properties, but I've changed my perspective on what a good deal is and what isn't. Boise (and surrounding areas) is still my ideal market because of the population demographics, growth prospects and fewer regulations than many markets of it size, which makes it more landlord friendly.

@Jim Hwang, one other thing I would add is that you aren't likely to find a seller financing deal that is much lower than the conventional rate. Unless, of course it is with a family member who is willing to give you a deal on the interest rate. Too bad you didn't ask about this sooner because I would also tell you that interest rates are not forever. You can always refi down the road once rates improve. My husband and I have done that on MANY properties that didn't look like much cash flow when we bought them, but then once we refinanced them a few years later (along with rent increases) they perform amazingly well.

Hi @Grant Schroeder, we could have done 10% and we considered it, but we liked the interest rate better with more down and no PMI. We would rather have a lower payment that's more comfortable on this one.

Hi @Heather E Ingersoll! Our cabin in McCall has (thankfully) continued to do well as I know a lot of properties have seen a decline in bookings nationwide and I'm even hearing about it in the Boise area too. I haven't heard of it being a problem in the McCall area as of now. There's such a lack of supply for housing and lodging there that I'm not concerned at this point. My advice would be to find a property that has unique characteristics, those tend to do better. Our property is unique being a log cabin and we have an arcade. They perform better as STR's and/or they sell faster if you're just wanting to house hack and sell later. There's a huge need for long-term rentals up there and that will be the case for a VERY long time (possibly always) so if you're concerned about saturation, long term renting would be a very stable option in Donnelley or McCall. If you'd like to chat more sometime, I'd be happy to help! Feel free to reach out!

@Bryce Henson, this is so refreshing to see a post like this! It's encouraging to see someone out there willing to work hard and do what it takes to meet their goals. I don't know what part of Idaho you have property in, but if you're ever in Boise or McCall area I'd be happy to meet up, network or mentor. I lived in Seattle for many years so if that is where you are based, I could probably connect you with some people as well. Feel free to call or email me anytime. Best of luck on your business and goals, you are already doing awesome!