All Forum Posts by: Paul Herman

@Greg Moore & @William Leahy, I've read the book twice. It changed my whole perspective. I really appreciate the insight! 

Thank you @John Underwood. Have you tried a heloc for an investment loan?

@Bruce Woodruff, it would be for out of state investments. So it would be challenging to spend extended time. But great idea and recommendation! 

@Torrell Palmason great info! Do you look for local or national lenders when you shop?

Currently, I am saving to purchase my first STR. I'm hearing from most lenders that they require 20% down if the property is not considered a primary residence. Does anyone have any creative methods to obtain funding without huge loads of cash?

I'm a little late to the party but wanted to jump in. I live in KS which is also another non-disclosure state. I've found leads through direct mail to divorce records, crime records, and driving for $ apps. Most of the apps you have to pay for data but they're able to provide ownership records. Otherwise, typically the county websites will have a search tool for those records.

Obviously, it's more time consuming to go this route and there's no way of knowing equity. It's a numbers game. Get enough marketing material out there and eventually 1-1000 will bite. 

I'm interested to hear what everyone else is doing?

Thanks @Nick Beveridge, that sounds very familiar to the market where I'm currently focused. The only deals I've been able to produce are a result from a direct mail campaign to motivated sellers. Being that I'm a small fish in a big pond, I'm not quick enough to score deals from wholesalers. 

That is encouraging that you've had success in a similar fashion. Thank you for the insight. It's very helpful!

I'm totally piggy-backing this convo but would love some input from locals. I am planning on moving my family from Kansas City to Idaho. I've considered the Boise Metro area but we love the beauty of Coeur D'Alene and Northern parts of Idaho. What is the investing climate like in Northern parts of Idaho?

I've got a few deals under my belt and would be looking to wholesale and flip. Any information or advice would be much appreciated.

That's great information! Thank you for the response! I'm really shocked at the inexpensive prices of new construction in Boise. I wonder if this also plays a role in the low margins of a flip?

I'm considering moving my family from Kansas City to the Boise Idaho area. It looks so pretty and I love the idea of year round outdoor activities. However, before I can move forward with that decision, I want to know more about the Boise market. In particular, I would like to know more about the market for flipping houses. I know it is a popular area but wondering if its an oversaturated market for flipping? Wholesalers, are you having success finding properties well below market value? Flippers, are you able to renovate and sell for a profit? What is the competition level in Idaho? Is it easy to acquire lists?

Any info would be helpful! What are the areas of Boise I should concentrate (Eagle, Meridian, Nampa)?