All Forum Posts by: Noah P Bonds

@Zach Rucker

I just closed on a Boise triplex. It was on the mls and there’s lots more. Many are overpriced but keep looking. You can’t exactly find a good deal, you have to make one. Look into properties that have room to build another unit, a garage you rent as storage, maybe add a tiny home to the backyard or something. There’s actually a tiny home on air bnb here and it’s doing well!

@Jake Needham

Do a search here in the forums for Boise wholesale and you should find at least one person doing wholesale. I think his name is Cody. 208 home buyers or something like that. I’m here in Boise also.

@Lisa Sluss just think of it like the brrrr strategy. You’re almost done. If that’s not what you want can you add value to the rental? Maybe some new amenity for the renter that you can charge for and add to your income?

@Arthur P. I would like to know also. I’ve seen many properties sell at prices that don’t make sense at all.

@Susie Lowe

I’m in the same boat, been looking but really just finding high prices. Anything that cash flows well so far has gone quickly or goes to all cash buyers. Would be happy to join a meet-up.

@Adam Gollatz

Thanks Adam, I think that hits the nail on the head. I’ve been confused by what lenders say about income and how they can’t really include income from non-conforming units...but in the big picture it still helps your dti. Like I wasn’t seeing the debt forest for the debt tree... spoken with the city about several of these situations and they’re not going after them for now. Just too many of them. I’m not sure about the 2040 - I’ll check I out.

Alan - thanks for the reply. Yeah certainly don't want to go there. Please don't imply I'm trying to lie. I'll try and explain a bit more: What I'm wondering is how does that non-conforming income help you buy more properties later on? As in how can you use that income as leverage in the future if a lender disregards it? Lenders won't count it as income on the loan application, but when I claim the income on a per property basis on my taxes doesn't that in turn increase my borrowing power the next year?  I guess I'm wanting to make sure the income still helps me in the future.

Property is zoned duplex, but has an additional mother in-law situation that is rented. So three tenants with three leases, but only zoned for a duplex. Very unlikely the city will care. Is there any creative way the income from that extra "sublet unit" can be applied towards my own?

@Paul Joonha Lee

He said he had a heloc setup - I would guess that’s how he funded the rehab.