All Forum Posts by: StacyA McBain

Welcome Luke! 

My first house was an owner-occupied duplex. It's how I got started and it changed my life.

If you're your own landlord, you can keep any breed you want, and get help paying your mortgage.

You'll still need to save up some down payment. Talk to a lender or peruse posts here. 

StacyA

Hi @Rich Hupper, 

I recommend TitleOne for an Idaho intermediary referral. The specific contact could be dependent upon where you are, but I use Cameron McFadden in Boise. You can call TitleOne for contacts in other areas. 

@Chrystal Browning Yes -I sent it over this weekend - hopefully you received it.

Thanks for shooting me your email address.

Happy Investing!

Hi @Adrian Kutch

We met last night and we meet again June 20th. 

Shoot me your email address if you'd like an invitation and/or if you'd like help searching for exchange properties. 

Thanks, 

Stacy

@Chrystal Browing  - Thank you for your positive feedback. Yes - I'd be happy to email you the worksheet (PM or email me your email address - mine is on my profile).

Whether you're an avid investor or just getting started, below is a list of connections I recommend saving in your phone, if they're not there already. We not only shared this list at last month's AVID Investors meeting- An Idaho Real Estate Investor's Club - we also powered up our power teams and introduced some actual contacts.  

This month, AVID Investors meets Wednesday, May 18th and the topic is "The Most Important and Forgotten Element in Real Estate Investing." Based on the list below - you might derive the exact role we'll discuss! PM me if you'd like an invitation.

A Dozen Contacts Every Investor Can't (or Shouldn't) Live Without

1. Asset/business Manager

An often forgotten, but very important role

2. Lender

Commercial >4; residential <4; and possibly private (hard money)

3. Investment Specialist Agent, Brokerage and/or Team

Using an agent in the investment niche’ can have a large impact on the level of service, expertise and overall quality of investment you land. (Just ask our clients)

4. Title Company

We recommend TitleOne in Ada/Canyon County with extended coverage

5. Home Inspector

Ask about exclusions/recommended upgrades e.g. radon, chimney, engineering

6. Insurance Agent

7. Property Neighbor & Other Investors

The ng

8. Accountant

Find out if you’re getting write-offs, tax advantages and if you’re qualified to receive higher loss limits by spending 750 hours or 50% of your time self-managing.

9. Attorney

Are you buying in your name or an LLC's name, using trust or otherwise protected?

10. Local Utilities (for more than just utility service)

They also trim trees off power lines and check into gas smells. Continuous service agreements are a great idea for landlords.

11. Property Manager

Choose your manager wisely. Our "How to Choose a Property Manager” handout is available upon request from me, StacyA McBain, Kelly Turpin of Swope Investment Properties who presented on this topic at AVID.

12.Handyman /Contractor

DIY MANAGERS ALSO NEED CONTACTS THAT PROPERTY MANAGERS MAINTAIN:

Painter

Roofer

Cleaner - Tips and products: Don Aslett cleaning supplies

Concrete/Excavation

Carpet Cleaner - Pressure washer for exterior, full-service janitorial

Mold Remediation

Chimney

Pest Control

Appliance Repair

Flooring

Supplies

HVAC

Plumber

Electrician

Landscaper/sprinkler tech

Assessor’s office

Gutter cleaners

Hi @Marsha Layton,

AVID Investors meets in Boise - Meridian specifically. This month's meeting is Wednesday, and the info is below. As fabulous as the meetings are, they sound a bit far for you. 

In Idaho Falls, there's a club- Kaecee Reed is the contact

You're welcome to expound upon your needs for a short-term deal if you'd like. 

Happy investing!

Hi @Tony Davenport, 

I look forward to meeting you Wednesday - thanks for following up!

I received your RSVP email Saturday night (I enjoyed taking Sunday off this weekend) and have included you on my follow up invitation email. That email will go out tonight or tomorrow and include the final details and address (meetings are held in Meridian, Idaho near near the freeway.) In the meantime, yes, you're safe to put it on your calendar. 

Stacy

At next Wednesday's AVID Investors meeting we will work together to Power Up Your Power Team - a dozen contacts investors can't (or shouldn't) live without. 

This is a presentation and a vendor fair! Attending members will meet actual contacts, who will be introduced and available for networking. You'll also meet each other, fellow BP members and local investors.

Wednesday, 4/20 - doors open at 6:05 p.m for networking, meeting starts at 6:30 and we'll wrap up by 8 p.m.

AVID Investors is an Idaho Real Estate Investor's Club. Meetings are FREE and invite-only, as we provide snacks and beverages (water, soda, beer, wine). We're eager to bring in new members - email me to RSVP and receive your official invitation, which will include the meeting location details. Meetings are held in Meridian, Idaho near near the freeway.

Thanks! Happy Investing!

StacyA McBain

Some leases, mine included, have a "find your own replacement" policy that might just be good enough for a Landlord to accept, if you offer it up as a "win/win" method of handling your early termination at minimal impact on them.

Here's how it works. 

You advertise, show, and find the next tenant (make sure you confirm rent, deposit, terms and duration with landlord before advertising). 

You present a complete application and supporting docs (paystub, ap fee) to the landlord and be prepared to answer any questions from the meeting since you're serving as their eyes and ears. When a person meets their criteria, you work it out so there is just enough time for a walk through between your move out and their move in but no vacancy for the landlord. Your Landlord gets a new leasee at minimal impact on their end and you get out of your lease with minimal penalty, by taking care of most of the work your early move-out creates. Some Landlords would apply a lease re-writing fee and a requirement that any vacancy between tenants is paid by the moving tenant. If you find a tenant who can move in right after you move out, it's only up to your Landlord as to how many days they need to walk through and clean anything you missed.