All Forum Posts by: Claire Fenton

Welcome @David Stover, happy to share Boise area rental information with you.  Feel free to reach out.  As Jonna mentioned, November can bring winter storms, so come prepared!  Sounds like a fun trip.

Claire

Hello and welcome to BP @NA Loraine Nielsen.  Exciting project ahead of you!  My suggestion in picking a market would be demographics and cap rate of course, but beyond that, pick a region where you have people you know and trust to refer resources, and who have a first hand pulse on the market.  I know many investors have properties all over the nation, but I think that is for the pros. I would want to invest somewhere where I could get to fairly easily, have a free place to stay and people I wanted to visit.  Another consideration is a good property management company you can trust.  Good luck with your search!

@Cory H. Boise Investor Group (BIG) meets on the 2nd Thursday of the month, arranged by @Lisa Kohl.  AVID (@StacyA McBain 's investment group) meets on the 3rd Wednesday of the month.  And BP meetings arranged by @Jonna Weber meet quarterly, I think.  So nothing for a couple of weeks that I know of.  Hope that helps.

If anyone know of any other Investor meetings, please let me know.  Thanks.

Claire

Great @Chris Low, be glad to be of assistance.  Feel free to call or email me nearer the time to set up a time for us to meet.  My contact info. should be visible at the bottom of this post.  I look forward to meeting you in about a month!

@Chris Low I work with a property management firm, so of course I'm more than a little biased.  Happy to meet with you over the Thanksgiving holiday.

@Peter Grote, I know nothing about the Spokane rental market myself, however a client of mine has been looking for a small apartment complex to invest in the the Boise area for many months now.  Since he was not finding a property that penciled, he looked further afield and is now in contract for one in Spokane.  All that tells me for sure is that he found a property with an acceptable cap rate in Spokane, which he hasn't been able to in Boise.  But he is a very thorough researcher and seasoned investor, so I would think he researched the rental market extensively before deciding to buy.

@Gabe C., thank you for the great overview. Another benefit is to your heirs. Inheriting real estate offers the benefit from a step-up in basis, which an IRA does not. All sorts of reasons that this is a fantastic option.

@Gabe C., that sounds like it. The man who created this method lives in, and works from Ketchum, Idaho. I think he has structured many variations to the simplification of what you have copied and pasted above. In my case, I already owned the real estate, I just wanted to apply my IRA to make my mortgage payments. In doing so, I am gradually transferring my IRA into real estate which has tax benefits for me, as well as advantages for my heir. Plus I get the income from the rental!

It's called the OUTSIDE method because the real estate is held "outside" of the IRA. That is how you are able to legally avoid prohibitive transactions. The real estate is in your name, so you can occupy it, self manage it, run your office out of it - do anything you want with it. Meanwhile, your IRA has been structured to support the purchase of the real estate. Really, you would have to speak with someone who knows more than I for more information. I had my IRA structured in this way 10 years ago. So happy I did.

Hello @Bradley Shive, @Mark Nolan has given you some great information on Self Directed IRAs.  There is another way to utilize retirement money to buy investment property AND be able to self manage.  It's known as the "Outside Method".  Some of our clients use this method even though they hire us to manage the property.  It just allows them a lot more flexibility because they are not bound by any prohibited transactions.