All Forum Posts by: Molly Arnott

BP won't let me edit the event but it's on Wednesday the 18th!!

Join us for this month's Boise Real Estate Investors Meetup! Can't wait to network with you!

Square footage & number of bedrooms dictate the cost a LOT. And the difference of buying everything brand new and having it delivered to the house for install versus hustling and buying 50-75% of everything on facebook marketplace. For reference we've furnished three 4-bedroom rentals all around 2000 sq ft doing about 50% used FB marketplace and 50% new and costs came in around $12-15k in the Boise Idaho area. 

The Boise area (Treasure Valley) isn't the hottest for cash flow these days but a great appreciation market now. If you're open to the outskirts like Nampa, Caldwell, Kuna or Emmett and especially looking at multi-unit cash flow is still possible. We have some long term units out in Parma, ID that perform really well as well as my SFR's in Meridian do well as short term rentals to maximize the cash flow. Reach out if you need any guidance!

The Boise metro area have seen incredible growth the last few years. While the Boise city and immediate area have seen the greatest growth, there is still great opportunities in the surrounding communities like Kuna, Nampa, Caldwell, and Emmett. Lots of cute old homes begging to be fixed up!

Experienced and newbie investors all welcome. Come network and share whats working and not working in your business. We'll spend some time talking about interest rates and the current market climate!

Hey Mary Jay,

There are a lot of factors here to consider and sounds like both investments aren't treating you well. If your hope is to do a 1031 exchange and move into another investment I'd strongly urge you to do your homework and have an action plan for where you'd like to buy next before you get yours on the market. Is your goal cash flow or appreciation, or maybe a moderate blend of the two? 

Our STR's are in the Treasure Valley, Idaho and we're booked up like normal this time of year. But we are not vacation destinations, we have primarily families visiting family. Make sure your listing is optimized with keywords and all that jazz!

Hey Joe, we've experience an incredible amount of growth in the last few years and have since shifted from being a great cash flow investment to being a better appreciation investment. Depending on your strategy there is still cash flow to be made as well and I personally really like being in a balanced market that offers me both. We have some long term and short term rentals here in the treasure valley that perform well, and I'm also an active agent here helping others achieve their investing goals. Feel free to reach out and we can set up a call if you'd like to chat more.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $359,000
Cash invested: $5,000

We bought this home first as a primary residence when we moved to Idaho in 2020 knowing it would be a stepping stone for us. Once we settled into our new lives here in Idaho and figured out where we ultimately wanted to land we bought some property and moved out to Middleton. Now we're turning this home into a short term rental. We anticipate it to perform similarly to our other Meridian STR to gross approx $55k/yr.

What made you interested in investing in this type of deal?

We considered long term rents but the cash flow potential on a STR is just so much greater it's tough to pass up.

How did you find this deal and how did you negotiate it?

On the MLS, and luckily we bought this one back when the prices were still fairly reasonable and the rates were fantastic.

How did you finance this deal?

conventional 10% down since we owner occupied.

How did you add value to the deal?

We haven't had to, just furnishings and eventually we'll do some nicer backyard landscaping.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Well I definitely recommend working with me on your short term rental needs, I love it! I've also got a wonderful rolodex of local trades people and lenders I trust.

@Jason Bohling Cash flow has been great! January was the first and only month so far that we didn't turn a profit (mortgage plus utilities & expenses is around $2300/mo) but we killed it over the summer so we're still sittin' pretty. There have been a LOT of places coming on the market (including the ones I'm selling to clients, heh) so we'll see if saturation will affect the 2022 summer!