All Forum Posts by: David Sigler

I've used Zillow for the past year for a rental property in Idaho. It's a good, basic application but not that reliable when it comes to background checks. I called a prospective tenant today who showed a clear background from Zillow. She advised me she was a convicted felon for drugs and had a pending court date in 10 days. What! Turns out Zillow is notorious for back background checks. I'll need to augment that process moving forward.

 Thanks Alex.  I have owned income property in Texas and Arizona.  To your point, I was recently looking at Oklahoma City and Huntsville as potential locations and they looked promising.  I do recall David Greene being a former police officer.  I'll be doing another 1031 in the next month or two, let me know if you have any suggestions for Kansas City...

 Thank you for the information.  I'd like to learn more about off-market creative financing.  Let me know the best way to get in touch!

Hey Ryan,

Not sure if anyone else has gotten in contact with you but I'd be open to grabbing a cup of coffee and talking about real estate.  PM me and lets see if we can get something started....

David

Quote from @Lore Postman:

Miles, 

Sounds like you're already on the right track for locating owner name and mailing address. Nevertheless, I'll share the steps I typically take in case they can provide a slightly different perspective, offer new ideas, or help another investor who is looking for guidance on how to search records online. 

I used the online tools for Ada County, Idaho and for the state. The example is random, and I apologize if that owner happens to be a BP member. My intentions are to help others learn research steps, not to single out a specific owner or property. 

Started with county tax parcel maps

https://tax.idaho.gov/gis/parcelmaps.cfm

- Choose state and then county ( I picked Ada County)

- Searched by address or interactive map (I usually start with an address and then play around with the interactive map)

For illustrative purposes, I searched for the following address:

1750 E. State St Eagle, Idaho

Results came back like this:

Clicked Parcel link on the first address to get:

Notice that Aspen Apartments LLC is the primary owner.

This page is a good place to search for details about a property, especially the [characteristics] tab, which provides information on the building and land. The [2019 Tax Assessment notice] also had some interesting information, including the owner name and mailing address.

In instances were a tax assessment letter isn't available, I'd go to Idaho Secretary of State (sos.idaho.gov) and type the LLC name into the business search bar.

This is what returned for this example. Notice the Registered Agent information at the bottom.

LLC owner's physical address is on the registered agent information. (Eagle Creek Rd., Ketchum ID).

Because I like to go down rabbit holes of research, I’d next take a look at other LLCs held by this owner. The SOS records list the principal address for the different investments.

Jumping back and forth between the assessors and SOS databases provide a wealth of information and might help you spot patterns that can help you identify opportunities and negotiate successfully. 

But that’s another rabbit hole I won’t force you to travel down. ;)

 Excellent post! Thank you for the information :)

Hey Jacqueline!

I have been a passive investor for several years.  I typically buy or sell from my own portfolio once every two or three years.  I tell you this to illustrate I am not, by any means, an expert on investing.  But I'm comfortable with numbers and dealing with agents.  Echoing some of the sentiment expressed from other investors, I get irritated with agents who don't listen to what I am looking for and simply set up auto lists of houses that don't meet my criteria.  My best advise is to simply listen to your investor and tell him or her if you can provide the level of service being asked for.  If the investor is looking for cash flow, don't send them houses that cost $800,000 and rent for $2,000 per month.....not going to work unless you put 60% down, which most investors don't want to do.  That's my two cents!  

Good luck!!!

Hello BP family!

I have been buying and selling my own investment properties here and there over the past 19 years while being a full-time police officer. I retired from law enforcement in 2022 and moved from Southern California to Boise, Idaho. I earned my real estate agent license in 2023 and have been looking at increasing my portfolio here in Idaho. I have been scouring the MLS for cash flowing deals and have not seen much success. The 1% rule is very rare here. I did a 1031 exchange late last year and had to put 40% down on a STR in order for it to cash flow.

My question to the BP family familiar with the Treasure Valley is are you experiencing the same thing or am I not seeing the right properties and price points?

Thank you for your comments!!

David

I'm having the same issue. Started yesterday after I sent a lease agreement to new tenants. No one has a solution to this problem?

Welcome Danielle!

I am unable to be a mentor but I can recommend a great realtor I have used in Phoenix several times if you would like to expand your local contacts. He might be able to introduce you to someone who fits the bill for your mentor as well. Get in touch with me if interested.

Great post Anna!

The home looks great! Did you run into any regulatory issues with the City of McCall with STR's? Also, would you mind sharing what your rental percentages have been for the months you have owned it?

Thanks! David