All Forum Posts by: StacyA McBain

I have a client who will be moving to the Corronwood UT area and looking to buy a duplex. I’d like to refer him to an experienced agent, who specializes in multi family investmen Properties. Thank you for any recommendations you may have.

Shopping for a duplex in Boise? Love the downtown areas and their appreciation potential and ease of renting, but hate the returns there?  Look no further! This duplex is about to come back on the market!

Contact my colleague and co-listing agent Doug Bolen for details 208-860-9169. [email protected] (Swope Investment Properties)

Notes- rents are market rents quoted from a local property manager (First Rate Property Management). Leases end 12/31/17 and 2/28/18 but actual current rents are lower and below market - $775 and $720. 

This turnkey 1941 duplex boasts high returns and appreciation potential in a highly desirable location near the Whitewater Park and downtown - the easiest and fastest to rent part of town. This area continues to get better and better! Low maintenance, expenses and vacancy. It has style, North End charm (age), and brand new HVAC! Contact Doug for Proforma and upgrades list including: granite counter tops, wood floors & tile back splashes in the bright lower unit. Upper unit includes arched doorways & solar tube. Shared W/D. 2004 roof. Xeriscape. Not perfect, but has Great return for this area! Ideal tenants. Fully occupied - do not disturb tenants. Walking tour videos are available upon request. 

Legally zoned and establishing formal Grandfather Rights. Interior videos also available.Please share virtual tour link & D tab docs for property performance and upgrades with your north end Buyers. Owner has transformed this property. Market returns are well above average, this close to downtown (and leases end soon). Corner lot with off-street parking on quieter side street (Davis). Fully occupied. Please include pre-approval with offer or request to join a showing appointment.

Thanks for looking! 

Expenses: 

Water $270/year (2016 actual)

Sewer/Trash $512/year (2016 actual)

Exterior maintenance $600/year (2016 actual)

Cleaning, repairs, maintenance $400 (estimate)

Taxes $2,101 (2016 actual)

Management 7%

Insurance $600 (Estimate. 2016 actual was $372.)

StacyA McBain - Swope Investment Properties

Contact my colleague and co-listing agent Doug Bolen for details 208-860-9169 [email protected] (Swope Investment Properties)

@Jen Harwood 's solution is simple and functional. RUBS (utility reimbursement) is another option. There's info and Q/A's available on it through an internet search. 

AVID meets next this Wednesday 11/15/17 at 6:15 p.m. 

Apartment Analysis - Associate Broker at Swope Investment Properties Doug Bolen will use the ultimate case study to highlight the strategies, tactics and tips we've delved into through AVID meetings to date. You'll get a comprehensive, inside look into a recent apartment deal that will pay dividends for decades.

@Claire Fenton of Realty Management Associates (RMA) will conduct this month's rental market update. Be prepared for some group discussion here, when Claire invites discussion around an interesting data point.

AVID is a FREE and invite-only investor group. Your RSVP is requested so we can plan beverages, snacks and seats, and keep it non-salesy. 

AVID Investors- An Idaho Real Estate Investors' Club is comprised largely of buy-and-hold investors for cash flow. Meetings are valuable for their educational content, connections and insider market info.  

Contact me for details, and to RSVP. Happy Investing,

StacyA McBain, Swope Investment Properties, 208-921-0630 or [email protected]

@Jonna Weber - you do a great job with these - thank you for your efforts putting together a worthwhile event for investors!

AVID Investors - an Idaho Real Estate Investor's Club is a great place to learn, network and boost your results in the process. 

Tonight's meeting brings in Real Estate attorney Erik Bolinder of Exceed Legal PLLC to answer your questions and share important insights about doing it right!

Please RSVP for details. Thanks!

Happy Investing,

StacyA McBain

Swope Investment Properties

208-921-0630

Yes - requesting to be added as an additionally insured (in the same way many property management companies are added - sometimes there's a low additional cost for this). Also, ensuring taxes and insurance are paid out of escrow, and following up/monitoring tax payments annually, manually. 

I agree that lending in first position is the only recommendable way to go. There are some advanced tactics Junior lien holders can employ to stay in the game in the case of total default (e.g. keeping that first loan paid in full so the primary note holder doesn't start the foreclosure process). But you'd be at significantly higher risk to get nothing, in a worst case scenario.  

In case you have an inspiration to proceed anyway, be sure you are set up to receive notices if insurance or primary mortgage isn't paid and schedule a reminder to check in with the county to see that taxes are paid.

Hi @Benton Rooks

@Tiffani Wilson is a good agent who works in Idaho Falls.

@Nicole Stoddard

Contact Jon Galane's team at Mountain West IRA in Boise.

They are local "qualified custodians," as referenced by @Douglas Larson and I've had a good personal experience with them.

They will present a clear option for you, and they will know what Idaho banks use the kind of non-recourse loans required for self-directed IRAs where financing is in order. The interest rates on those is higher and they are rare, but they exist. 

If you're exposed to partnership deals, or have enough funds in your IRA to pay cash, those would be quality considerations.

Happy Investing!

StacyA McBain

Swope Investment Properties