All Forum Posts by: Anna Strausbaugh

Quote from @David Sigler:

Great post Anna!

The home looks great! Did you run into any regulatory issues with the City of McCall with STR's? Also, would you mind sharing what your rental percentages have been for the months you have owned it?

Thanks! David

Thanks, David! We have been hovering around a 75% occupancy rate. This summer and winter were over 90% booked, but we do have some slow shoulder seasons that brings the average down for the year. Overall, we've been really happy with the returns on this one! 

As for regulatory issues we the city we got extremely lucky since we are actually just outside of the city limits so those do not apply to us. We are only 10 minutes into downtown, but haven't been subject to the city regulations. The regulations in McCall still are not that bad even if you are in town. I would still buy my next one in McCall even if it was in the city. 

Hi @Lain McCanless! I've got an off-market STR near Boise State with some great potential income numbers I'll message to you. Boise is a great market for short term rentals and @Brandon Pelfrey is an excellent STR property manager here!

@Don Spafford, do you have any suggestions for @Joshua Savage? Don knows that area well and his wife is a realtor there, I'm sure he'd have some great suggestions for you. Also, looking a little outside of the Idaho Falls area, a really hot market right now for STR's is Island Park being so close to Yellowstone. Just something to look into!

Hi @Bryan Norton! I'd be happy to send you some to chat with, I've worked with several great ones in the valley. I'll send you a DM, I don't think any of them are on BP.

Great question! When we acquire a property we always like to start with at least 6 months worth of reserves that would cover the mortgage if in the very unlikely circumstance that it was vacant for that long. Then we usually just let the cash flow accumulate in the account for as long as possible. We typically will get up to 12 months of mortgage payments in the reserve account before we even touch it. Putting away more than that is just keeping your cash on the sidelines that you could be using to make more investment purchases. You'd have to have a huge maintenance issue to ever need more than that, in my opinion. 

Quote from @Brian Stutzman:

Quote from @Luis Chavez:

How did this go? Interested to know the outcome.

 We were succesfull with alot of help from the Lord above.  It is now Idaho law.

 Yes, I'm very curious to know more about what changed. Please share!

We usually say 650, but do a background and credit check to get the full story and have made exceptions from time to time. It also depends on the type of property you are renting. We tend to stick to newer, higher end properties so it's not as hard to find those 650+ tenants, but you may need to lower that expectation based on the product type you are trying to rent. Know your market! Good luck!

Congrats! Sounds like a great project, nice work!

Boise definitely is a hot market, but I don't think I would call it a bubble market. We have such strong job growth and development happening here, I don't think it has the characteristics of a bubble market. I do think we might see a flattening out of prices in 2023 (maybe closer to 5% appreciation instead of 30-40%) since we have benefitted from such strong appreciation for many years in a row now. That's my 2 cents, I think areas that rely heavily on tourism will feel it first, just like in a down market 2nd homes are some of the first to go. When inflation gets too high, people won't be able to travel as much and those areas may be the first to suffer.

Congratulations! Way to maximize your VA benefit!