All Forum Posts by: Cody Stone

Cheap rent and Cheap mortgages for those who are out of state! Overpriced for most who live and work here. 

We accepted an offer this week for a listed property we have for $40K over asking price. They are willing to pay any amount over what it will appraise for!!! What an incredible time to sell in cyclical markets and buy rentals in cash-flowing linear markets. People who put large amounts of money down to, buy their cashflow, are speculators who are expecting appreciation (gambling)  OR who have nothing better to do with their money. IMHO....

Speaking in terms of the Boise area, wholesaling and flipping has been extremely well to my wife and I.

We have little experience with rental properties, but we have wholesaled many fixer uppers to landlords. I hear these speculators talk constantly about appreciation in the Boise area. The run up on prices has been tremendous, but remember Boise was one of the hardest hit areas in the last downturn. A house bought in 2007 for $135k shortsold in 2010 for $50k.

To me it would make sense to buy based on cash flow rather on appreciation. Especially at this point in the market. Last time I ran numbers with BP calculators, we’d need to put 50% down or have 50% equity to have any real cash flow on a rental here. Show me anything here close to a 1% rent to value ratio that isn’t in a bad neighborhood where you’d have to rent it out by the bedroom

Seems like we agree, I’m just speaking in terms of single family residential investing. I don’t know the commercial space very well. 

I know another investor who had to rent a property by the bedroom (5 beds total) in order for the numbers to work. It was even a Caldwell property. The trouble for him was that he’s only had a couple months where every single person paid. 

I suppose an investor who needs to park their cash, having negative Cash flow is okay. It’s just that there are many other markets that have better rent to value ratios than Boise. Like: Memphis, Little Rock, Indianapolis, Birmingham, Dayton, Kansas City etc

I get it, those with cash sitting on the sideline want to invest. They see Boise area with these huge appreciation gains and want to cash in. The fact is that I know investors who are buying for negative cashflow, willing to take a loss every month to realize their gains with appreciation. aka gamblers. Locals are getting priced out on rent and purchases. They are moving to the outlying areas. Once the mass migration from the densely and cyclical areas comes to an end, prices will become realized. 

@Kade Eiguren Meetup.com is another sight to visit for real estate investor groups. There are many  groups around the Treasure Valley to network with investors. 

Yes, I have filled out the public request forms for Idaho and was granted access. I'm not sure exactly what county Priest River is, but you would either need to go to the courthouse in person or request via their website. 

Boise and Nampa home values have increased in value substantially over the last few years. It makes my head spin! Why do you want to buy and hold here? In my opinion, there are many more markets across the country that make much more sense. We have a strong job market here, but the rent to value ratios are terrible. 

Welcome to the site John!!! Any relation to Nate Hogg? I went to school with him. I grew up in Caldwell. 

Let me know how I can help with your Fix and Flip business !!!

@Tyler Daniels Check out Meetup.com There are a million investing meetups now days in and around Boise. Boise Investor Group and Avid Investors have monthly meetings, there many who host weekly meetings as well.