All Forum Posts by: Nathan Schiess

Would anyone is the SE Idaho area be interested in meeting once a month to discuss property management topics and refining your processes and management techniques? I have reached out to the Idaho Apartment Association for support on this but wanted to see if anyone would be interested in meeting up to learn from each other and local professionals to improve ourselves as landlords?

Boise is an awesome market to invest in but I think out where I am at in East Idaho is really overlooked. The economy is super diverse, with lots of government jobs, prices are more affordable, cap rates are higher and demand is far out pacing supply. If anyone is looking to invest in Idaho but isn't finding what they want in Boise, reach out to me and I can help you find something with awesome returns here in East Idaho! We also have a super strong investor network here (See The Idaho REIA https://www.facebook.com/idahoreia) and you will get way more bang for your buck than you will in these larger markets. Happy investing!

@Lindsay Pascoe If you can't get the cap rates or kind of property you are trying to find in Boise, you should consider investing in East Idaho as well. This market is far more affordable and absolutely KILLING IT. Rental demand is through the roof and the economy is diverse and thriving. I'd be happy to help you find something here! It might also be worth it just to have something to compare to what you are seeing in Boise. The investor network over here is strong (See the Idaho REIA at https://www.facebook.com/idahoreia) which is especially helpful if you need a strong team while investing from long distance! Either way good luck and welcome to the greatest state in the US!

Come learn how to leverage local resources and stay at the forefront of the industry! Bron Leatham is a leader in business, real estate, and politics here in Idaho and will be giving us a look at real estate and its future in Idaho through the lens of someone who sees the big picture. The Idaho Real Estate Investors Association is free to join and all are welcome! We look forward to seeing you there! Meeting Address: 1614 Elk Creek Dr, Idaho Falls, ID 83402

@Avery Robertson Thanks man, I'm putting together a list of national lenders together because there don't seem to be many local guys doing it, so thats great, I'll give those guys a call as well. That's awesome man, going the partner route is a great idea. I want to hear about what you got going on at the next REIA meeting! Thanks for your input Avery, you're the man!

Who are you guys using for hard money for your deals here in SE Idaho? Are there a few local guys who are reliable or is everyone using national lenders? AND if you are using national lenders, who do you like to use? Thanks!

I am curious what other investors in the Idaho Falls market think about the "Lettered streets" as well as the streets surrounding. Homes are generally cheaper there but (in my opinion) it's a "C" area that I don't see improving much. The numbered streets on the other hand I've seen quite a bit of gentrification and pride of ownership, which make for great investing neighborhoods. Of course this is a generality as the "Numbered streets" definitely range from gentrifying to falling apart but I'm taking things as a whole. I'm interested in fellow investors thoughts on the matter. I know a fair number of slumlords that 

Meeting location changed! This month’s meeting will be held next Wednesday, June 17th at The Teton Event Center located at 3885 Crestwood Ln. Idaho Falls, ID 83404! This is not a meeting you want to miss! Get out of the house and come learn about flipping houses in this market and meet some real life people!

@Devan Mcclish I have worked with several property management companies and I think the common denominator for success is connections. In all the years I've managed properties the companies that I have seen do the best are the ones that A) own (fully or partially) a large portion of what they manage and B) have lots of connections with people "in authority". Here are a couple of ways I've seen owners of property management companies significantly grow their businesses: get in with say a fund manager who manages a fund that purchases large numbers of SFH in an area (or one that is looking to purchase and needs a management company to work with), put together a syndication to purchase a significant number of units and have your company be one who will manage the property(ies), purchase management contracts from other management companies in the area (lets be honest most management companies are not awesome and there may be a company in your area that is ready to throw in the towel or unload some properties that they can't handle anymore). I know these are pretty high level strategies and maybe you just want to keep the business relatively small (in which case just ignore this post) but these are just the strategies that I've seen successful PM companies use. I personally do not believe you can end up managing 10k units if you try to find them 1 by 1 or even 10 by 10. That being said, companies that build a business one SFH management contract at a time can benefit from tons of other simultaneous synergistic strategies that do not require 10k units (or even 1k units for that matter). For example: in-house maintenance companies to handle work orders, "in-house" real estate brokerages to refer business back and forth, "in-house" Capital investment and advisory services with which to organize the owners you manage for to then purchase more and larger deals together (that you will manage) and I think you see where this is going. It all feeds off itself and your businesses grow together, thousands of units under management not required. So either keep doing what you are doing with your online marketing (also attending local REIAs can be effective getting one off management deals) and utilize some other business vehicle in tandem or start connecting and swing for the fence! Hope that helps in some small way Devan, good luck!

@William Hochstedler we will forgo a meeting this month but next month the meeting will be in person and hopefully you can make it! Covid-19 and Murder hornets are not invited to attend so we should be good to go 🤞