All Forum Posts by: Don Spafford

@Stephanie Clark Sorry I didn't see your post earlier, my name didn't appear in blue so something must not have been working right to send me a message. Lots are getting harder to find but there are some available, and some units on a double lot that could have more built. I am actually in the beginning phases of a large apartment complex deal that if it all works out will be a new build. Yes, many people have pets. I was against it at first myself but people happily pay additional pet rent. If you rent proof the place, it isn't a big deal. Smells are the biggest concern, but as long as you have limits and don't allow people to have 30 cats you're probably ok. I have in my lease that any pet messes must be cleaned up immediately and tenants are responsible for cleaning carpets before moving out.

If you are looking for properties in the area, let me know what you need and I can help you find them. My wife is a Realtor so we can get access to anything you want to see and can send pictures/video if needed.

@Matias Pereyra Sorry I didn't see your post earlier, the message thing didn't work for some reason as it didn't highlight my name in Blue. But yes, Mountain America Credit Union does portfolio loans and will count any future rental income as your income to help qualify.

There are a lot of great points in this thread. I had my first job at 14 years old, probably working more than what was legal to do at the time, but in my workplace the manager was always touting Amway and how it was the way to get rich. Lucky for me I was too young to get involved, some of the adult co-workers did. However, if at the time the y would have been discussing real estate and talking about BiggerPockets (assuming it existed at the time) I would have had something to go to and investigate more and use it as a tool to learn and research to prepare myself at that age to be "Set for Life" getting a solid foundation of useful information form thousands of people that are doing it every day. I would have been better prepared to know what steps to take so that when I turned 18 I could start taking action, maybe even before then using my parents and help teach them along the way.

I agree that they should not be meeting up with adults alone. Perhaps one thing that could be done as a safeguard is that when under 18 sign up for a membership, they have to include a parent/guardian information and get approval from them. My kids play an online game site that allows communication, when they sign up for an account it requires an adult email and verification to activate the account. Something like that could be implemented. of course, there are always ways around any safeguard so nothing is perfect. I just think keeping young eager minds away from this amazing information that could be life changing would be a mistake.

@Chris Egan Let me know if you have anything else that isn't so old and cash flows. I'm good with anywhere except North O.

@Account Closed I've recently looked at this one, but for me it is not a good investment. Personally I think it is overpriced for our area. There are better alternatives. It may take some time to find the right one. I analyze dozens of properties each week and very few are worth pursuing unless you want to offer very low amounts which around here usually does not go well.

@Tim Boeving Congrats on going Pro! I agree, it is soooo worth the cost. Yes, I too agree that the app could be much better. It would be great to have the calculators on there and colleague contacts for when you are on the spot and need some info. The current app is basically only good for listening to podcasts on the go.

@Matias Pereyra and @Stephanie Clark That is a good area to invest. Comparing to Rexburg and even Idaho Falls, you can find better deals near Pocatello. The only thing to keep in mind is that most of the properties are very old. For student rentals, most landlords include all utilities and many units are not separated anyway so they have to include it. Ones that are priced right sell fast. Are you looking into small MF (2-4 units) or are you considering large MF? I do invest in that area and manage myself and am looking at some larger MF. If you need any help or have properties you want to know more on, let me know and I would be glad to help. My wife is a realtor so we can get into any property that is for sale on the MLS or craigslist, whatever. Finding the off-market ones is more of a challenge. I have seen some wholesalers selling some that are still too high of a price.

@Cade Stafford Welcome to BP! You've made the first smart choice by posting to BP. There is tons of information to learn here from the forums, webinars, and my favorite, the podcasts. The Idaho Falls market it tough, as pretty much everywhere right now, but it depends on what you are looking to do. If you are a flipper, as your profile states, there are opportunities out there. I know of people that are doing it but it takes work to find the properties. I do more buy & hold in the area, but have been having more success near Pocatello. Are you currently working with an agent to get leads from the MLS? PM me if you would like more information or to meet up. Good luck!

@Bryce Bradshaw If you want to PM me I can point you to an agent that is also an investor here in Idaho Falls.

@Melissa Coombe Without know all the details of your situation, are you planning on staying in UT or moving to ID? Idaho is a community property state. I am not a lawyer and not sure how it works when you live in another state, but assuming that the property is in ID and owned by both of you through marriage, you should be entitled to half of the profit if it were sold. You could try to rent it out for somewhere in the middle range on a short term 6 month lease to attract renters for the lower comparable price, maybe about $1750 and then after 6 months raise it to the more competitive $2000. Or for now, as you mentioned, for holidays try renting it as an Airbnb and see if that works out. Or just sell it now, it would probably sell fast if your market is like mine right now. You don't know what the future will bring, prices may decline in the near future. It is a tough decision. Best of luck to you.