All Forum Posts by: Ryan Hall

Congrats Lacey! 

How does the cash flow look? You mention Caldwell, is that where the property is located? Are you self managing or using a local property manager?

Best wishes!

Johnson Property Management. Family run business that knows what they are doing and have been doing it successfully for many years. They understand small multi-family is typically an investment property. I use them for 2 small multi-family properties in Treasure Valley. Feel free to PM me if you want more info.

@Sarah Brown

I agree with Sarah. Boise Idaho is currently over priced but a couple of the suburbs (Nampa, Caldwell) still meet REI financial sense.

@Mitchlyn D.

Mitchlyn, one of your own replies was spot on. Peace of mind!!! What is a couple hundred in extra cash flow a month worth vs. losing sleep worrying about your tenant’s kids being bitten and/or a possible lawsuit?

As an investor, This is not about the dog breed, it is about an observed risk that you saw with your own eyes.

Risk vs Reward. In this case, sounds like the risk is higher than any anticipated/planned cash flow. And to Jay’s earlier point, what if the real cash flow ends up being even lower due to vacancy/lower rents.

I’d think hard about passing on this one and saving your funds for the next opportunity. As an investor, separate the emotion and focus on the numbers and the risk.

Best wishes!

@Michael Ealy

Thank you for sharing your knowledge Michael.

I vote for detailed answers on #2, #3, #4 in that order.

Best regards!

Ryan

Thanks for the correction on the 1031 gents. I was thinking too much of my old situation where primary residence became rental then we 1031'd.

A lot of knowledgeable folks on BP, keep asking questions!

Best wishes Sterling!

@Sterling Jaquith

BP members Eric Mitchell and Don Spafford can most likely help you analyze Idaho Falls / Pocatello / eastern Idaho.

Good luck! Let us know how it goes

@Sterling Jaquith

Congrats on your first step!

1) read Rich Dad Poor Dad by Robert Kiyosaki

2) read Brandon Turner’s Rental Property Investing

I agree with you on Boise market, too hot right now with out of state relocaters buying anything that is a halfway sensible deal. All treasure valley for that matter, though deals can be found in canyon county if you keep your eyes peeled. I’d Sell the large Boise house and pay off house in Idaho Falls or up north. Otherwise do a 1031 on proceeds of large Boise house sell and invest in small multi-family property in IF, Pokey, up north.

Read those books first though! Then jump in, excellent time to sell and downsize in smaller market.

Best wishes!

@Johnnie Hawkins

Hey Johnnie.

2 Books is all you need.

1. Rich Dad Poor Dad by Robert Kiyosaki

2. Rental Property Investing by Brandon Turner

Sounds like you have read #1 and it made you question a lot of things, as it has done for me and many others. Also sounds like you are ready to read #2 and start taking some action.

Best wishes

You're welcome. I think that book is really going to help you jump start this REI journey. Best wishes!