All Forum Posts by: Cody Fenske

I'm in the Spokane Washington area and can definitely confirm the previous comment. There are some great cash flowing properties for cheap! It's a pretty good investment market, especially for those with any tolerance to risk.

Yeah, the house hacking certainly can't work well with family lol. My wife and kids would keep that off the table for my main residence, that's for sure! I recently saw a great multigenerational setup in Post Falls that would be perfect for house hacking though. When I see places like that I get tempted to throw up a door to divide the living spaces and make a couple of units out of the one. Or just rent each room for 600 or 700 a pop. I have some young clients who are wise to that because they moved out of a house that was setup like that. A couple of these kids are getting pretty good cash flow despite the current rates so it's definitely an impressive model!

Oh, awesome! You are doing well then! I moved out of California about 4 year ago and sold everything I had there because although the rental would have kept high returns, I didn't trust the laws and lack of landlord rights in liberal states. That's still the issue I have with other markets like Washington. I'm licensed over there as well and I often come across things that tempt me because the returns are better than here in Idaho. I'm holding out for Idaho though, unless something remarkable pops up that I can't refuse. When I bought a home in CDA 4ish years ago, I put a much larger down than I should have in retrospect. That home is meant to be a rental after I leave it this year or next, and it'll certainly cash flow very well, but I should have put less down and bought a few instead. Unfortunately the great rates felt like they would last forever and the inventory was about a third of what we currently have. I also wasn't a Realtor back then so there is a lot I should have done differently. I wish I knew then what I know now! Now that I've saved back up a few hundred thousand, I can start investing again without pulling equity from what I have. I'm currently looking for a STR in CDA or Hayden and I'm also looking for some LTR multifamily or house hack situations.

Welcome Melissa! Nice to see someone else from North Idaho! I took live in Coeur d'Alene. Do you already have rentals? If so are they local or what other areas do you like investing? I am trying to keep all of mine here despite the better return in other states. I just consider us to be too blessed living here and have more faith in our market than I do others. I'm clearly biased though lol.

Forgot to mention, if you have your heart set on CDA, you can still get returns of a few hundred a month even on LTR. STR you'll generally get more though despite the low months. Let me know if you want and I'll send you some that can cashflow immediately. The budget required would be more like 350-400k ideally.

Hey fellas, sorry for getting in here late. This is my main market so I wanted to throw out a few things... Primarily @Alan Asriants, I'd encourage you to look at Kellogg, Idaho. It has Silver Mountain Resort which sounds perfect for what you are wanting. I have seen a huge uptick in activity out there and represented 2 buyers in Kellogg this last month alone, which is unusually high for that area. The area is known for not just it's skiing but also for mountain biking, an awesome year-long waterpark, and trail riding (ATVs/UTVs but also bicycles. Look up The Trail of the Coeur d'Alenes which brings people from all over the country). Coeur d'Alene River runs through there too which is well known for it's fly fishing, which also brings quite a lot of tourism. The financials are really strong on most of those places year round with summer oftentimes even out-performing winter. Considering that the prices are still WAY lower than CDA, it may be perfect for you. There was an old superfund in the 80s to clean up metal contaminants in the soil from the old mining activity, so maybe check into that if. Don't eat the dirt and you should be just fine though haha. I'm thinking about buying one of the resort condos after going deep into the financials with my client last month. I always knew it was good, but I checked into them on almost every condo that was active and I was impressed that even after the resort took their massive 50% cut to manage everything, the owners were still often grossing over 2k many months for a 250k condo. Pretty great stuff. If you want higher returns, they are definitely possible. Reach out if you want to know more, but since you are happy with a few hundred, that's what I'd do. Also, you probably want to stay away from Sandpoint. It is our most liberal area in North Idaho. Also, it is more seasonal than Kellogg.