All Forum Posts by: StacyA McBain

AVID Investors is an Idaho Real Estate Investor's Club located in the Boise Idaho area. Our ultimate goal is to boost results, through education, networking and resource sharing. Meetings typically include a market update, rental market update and feature speaker. 

This month, a representative from Vacasa is flying out from Portland for our feature presentation, which will be slightly different in format.

Monthly meetings are:

• The Third Wednesday of each month at 6:15 p.m. (except August and December) I recommend arriving at 6 p.m. for your first meeting.
• Free, with free beverages and bites
• Invite-only (guest invitations are available)
• Our core membership base is comprised of buy-and-hold investors for cash flow. Meetings are focused and note salesy or off track. 
• Please don't hesitate to reach out for an RSVP
• No meetings are held in December or August

Don't hesitate to reach out with questions or to RSVP. You'll receive the meeting details with your RSVP, which helps me plan beverages, food and have name tags ready in advance. 

Happy investing! 

StacyA McBain

Welcome Carl!

There are a couple local investor groups.  The next meeting of AVID Investor's Club is in January and you're welcome to hit me up for an invitation. @Jonna Weber puts together great meet ups as well. The local clubs are another good way to jump right in. 

Happy Investing,

Stacy

@Bill B. Do you know if they're selling that one vacant or leased up? Their proforma operating costs seem low/that cap rate appears pretty ambitious. That said, the location is strong and could warrant buying into at a lower/more conservatively calculated cap rate. 

Hi @Tyler R. 

Commercial multifamily is my niche. Cap rates in Boise are in the low 5% or even high 4%'s depending on whether you're using current or proven market rents. Sometimes it also depends on whether the listing agent is realistic about their market rents. We have more 4plexes than most markets, and there's not much of a cap rate boost as you go bigger, where supply is lower. 

Nampa has slightly higher returns, even after the higher taxes there, but I'm pretty skeptical about being able to personal validate any listing claims of a 6.8% cap rate on a new build 4 plex, after I run the numbers. I'll look again for those and buy them or sell them to clients if it's legit. That's more like the cap I might expect to find on a historic (read 100-year-old) home with lots of charm (aka oddities). 

I have a 90's built 25-unit listing that we priced at about a 6.8% cap rate. It's Section 42 LIHTC, so we listed it at the high end of caps. We had multiple full price offers, however the deal fell and it's back on market. 

Garden City is happening. It's priced as though it has happened despite the surrounding trailers, but if you find a deal there, it's worth a look. I know of an off-market retail (recently vacated) with office or apartment above, in the heart of Garden City, where parking is the challenge/hurdle to overcome.  It will sell list in the low $400's.

I'm curious what cap rates you are finding elsewhere? Or what cap are you willing to tolerate in a growth market like Boise? 

Happy Investing!

StacyA McBain

I have an active listing for a 25-unit multifamily property in Nampa, Idaho that currently is owned by a TIC/partnership and would be a decent property for a similar set up. It's Section 42 and the cap rate is well into the 6% range. I see Boise is on your list, so you might note that's the highest end of cap rates here in the Boise-area market, at least for a 90's built or newer property.

Fatten Your Rental Profits! 

Kelly Turpin of Swope Investment Properties gets down to business, presenting exactly the information owners, asset managers and property managers can use to make an impact. Be prepared to learn the secrets to success as you Rent, Renew, Retain and to walk away with some tasks to give your property manager, or yourself.

Avid Investors Club is an invite-based investor group in Boise, Idaho (we meet in Meridian, Idaho) - please contact [email protected] for your invitation, which includes meeting details. We keep the meetings non-salesy, educational and FREE.  Membership is largely comprised of buy-and-hold investors for cash flow and experience levels range from new, to truly avid investors. 

We're still meeting on this Wednesday before Thanksgiving - in fact this would be a great first meeting to check out! 

Happy Investing! 

@Casey Pozzanghera 

Welcome! You're invited to check out AVID Investor's Club - an Idaho Real Estate investor's Club. AVID meets the third Wednesday of the month (except December and August). We share market updates and helpful info to a room that is comprised largely of buy-and-hold investors. We're filling the room each month and helping investors make smart decisions - an email directly to me is the best way for your official invite/meeting info. 

Enjoy an above-market return on this '93 built, 25-unit apartment with constant waiting list + quality mgmt. Low-income/Section 42 units has rising rents and profits. Proforma and rent schedule available upon request. All are "end units" in duplex set up, with highly desirable 3/2 split bdrm floor plans. 10 duplexes/20 units nestled at the end of a cul-de-sac. 5 units sit 11 and 12 blocks away (2 duplexes and 1 SFR in same build/style). Well maintained. This is a rare find in the greater Boise area, both in terms of size and return/price. On irrigation water.

Northside Apts is 3 parcels sold together: 20 units at 2016 5th St N; 2 units at 320 & 324 10th Ave N; and 3 units at 508, 510, 512 10th Ave N in Nampa. Manager is required to follow section 42 Low Income Housing Tax Credit requirements, and is well-versed; compliance fees included in proforma. Allowable rent updates again in May/every May. Tax credits have been expended and no tax credits remain. Expiration of LIHTC status is 2033. WaFed is current lender and has financials in place for this property. 

Please email me directly [email protected] for proforma. 

Listing

Hi Devon, 

This property sold.  

Thank you, 

Stacy

Thank you 

@RJ Davies!