All Forum Posts by: Brandon Pelfrey

Hey @Dana Haake, congrats on getting starting and putting together a strategy that you can scale!

I think that's a great idea and strategy you can work toward. To start out though i think it might be beneficial to try it out yourself first. This way you'll get the process down, know what to look for, and how to train your team to help you - AND this is how you'll start to get an idea of what you should pay for a lead.

What one should actually pay for a lead i think really depends on the strategy, market, property type, etc. Once you have your process down and get an idea of how many leads brings you an actual deal and what value an actual deal has for you, then you can start doing an ROI/cost-benefit analysis figure out what it makes sense to pay.

Hopefully this helps, good luck!

Hey @Devin Samuels! That's so awesome that you're looking to get started in real estate, wish I would've gotten in when I was your age.

You're probably going to want to have both cash saved up as well as leveraging banks to finance properties, and actually there are some pretty good financing options available to members of the military. However, I would say that the most important things you could do at this point are:

1. Listen to the BP podcast regularly. It's a great way to get your head around all the different ways to invest in real estate, get to know the terminology used by RE investors, and start getting ideas on what you can do.

2. Learn as much as you can about real estate by reading books and hanging out here on the forums.

3. Get out and meet other investors in your area that are having success. Find meet ups and connect with people here on BP.

Best of luck as you're getting started and exploring the world of real estate investing, it's not something you can jump into overnight, but you're starting in the right spot and building a solid foundation.

Hey @Josh Vlach! Yes there are, this one is a pretty good one: https://m.facebook.com/groups/1291989487596042?tsid=0.41749385452323695&source=result

Let me know if you'd ever like to connect either while you're here in town or over the phone and talk real estate and/or the boise area, always love to talk shop!

Hi @Lindsay Pascoe! The Treasure Valley is a great place, and the real estate market here seems to be doing quite well. We own a small multi-family property here in Boise and operate a short-term rental property management business, would be happy to connect and chat about the area and market here if you'd like - let me know!

@Devin Lutz ditto to what everyone else said - you should be able to get your money back barring that you didn't use some random, wacky purchase and sale agreement.

I went through very similar challenges and emotions/stress as we were working to get our first property, so just wanted to remind you that you can do this! You'll get it all figured out, and the good news is that you have thousands of others that have been through this process hundreds of times before here on BP that you can lean on. You've got this!

@Brandon Vukelich I actually grew up in Auburn and now live and invest in Boise (it's not every day that I come across someone from my hometown!). Do you still hold anything in Western WA? And what kinds of properties are you investing in here in the Treasure Valley?

Would love to connect and learn more about what you're doing if you're ever up for it!

@Anthony Terrones yes definitely, let's connect! I'll DM you

Hi @Ryan Wood - the Boise market does have a lot going on, but it's definitely still possible to find deals that make sense. You especially can if you can get connected to off-market deals, but even with just using the MLS you'll find that they're still out there (I bought a duplex here at the beginning of the year using the MLS and feel like I got a good deal on it). I think one of the things that attracts investors to the area is that a lot of people are betting on Boise to become more and more attractive to those looking to get away from places like CA and Seattle.

Let me know if you'd like to connect and chat more about the Treasure Valley and/or real estate in general, hope to help however I can!

Hi @Anthony @Anthony Terrones, welcome to real estate in the Treasure Valley! I'm in Boise and have used Rocket Lawyer for my tenants here - it's online, very affordable, was easy to use, and has a pretty solid agreement: https://www.rocketlawyer.com/.

I love Idaho and real estate, so let me know if you'd ever like to talk shop or have any questions about the area. Happy to help however I can.

Hi @Haiyan Xie! I actually live a few blocks from this address and run a STR property management business here in Boise. You should be good to go as far as running a STR there (barring that there's not an HOA there the prohibits them).

Idaho, in general, is very friendly to Airbnb, VRBO, and STRs - they have legislation in place that protects and promotes them. However, last year the City of Boise tried to pass legislation that cracks down on STRs (doesn't prohibit them them but would have created rules that would make it harder for out of town investors to operate them). Luckily, the legislation was very unpopular and was struck down pretty hard, they ended up dropping it (https://www.boirealtors.com/boises-proposed-short-term-rental-regulations-update/).

Let me know what other questions you might have, would love to connect and talk about the neighborhood, STRs, etc.