All Forum Posts by: Stephen Lay

@Jeremy Blackburn thank you

Hello all,

I have a single family rental that I am renting as furnished. Do other landlords include a furniture deposit aside from the standard rental deposit?

Thank you for the advice everybody. I have been playing around with tenant cloud and seems to be a simple option for a small business. However is there an inexpensive option for a software that links bank account and tracks expenses for the landlord? Wondering if there is a way to eliminate my QB subscription with the “right” software. 

Thank you in advance for taking the time to share your experience and successes. 

Hello all,

My business model includes buy and hold single/ multi family properties. Does anybody have a recommendation for small property management software? I have 5 single family homes now, and plan to purchase 2 additional per year moving forward.

I have creatively used QB for my rentals but wondering if there is a more efficient way? Thank you for the help.

Wow!! Thank you everybody for the responses and advice, It is great to see and hear what others are doing to find success in the area. I am excited to get down there and start meeting everybody.  

I would love to meet up, I will be in Boise closing on a property in March. Let’s meet up then, I would love to hear more about what you are doing in the Ada County area. 

@Sarah Brown I would be interested in talking more about how you successfully manage month to month or short term rentals. I currently have two furnished rentals in Meridian that I rent short term, I make a lot on rental income but I am finding that long term success will come from getting long term tenants so I can focus on growing my portfolio. How does pay structure work with such a high tenant turnover business model?

@Roc Pilon the pricing for MF are insane down there right now. What would you tell somebody paying cash for a 4 plex between $550-$600k?

@Lee G. Are you renting the homes after your re-zone the lot? Or are you selling?

Very new to the RE investment world. Currently have 5 rental properties in the Boise area with monthly cash flow at $4550 per month and 1.3MM portfolio. I want to jump into full time but not sure where to start? I also own a contracting firm in the Seattle area which is the reason I am even able to purchase RE investment properties. I have some liquid to play with but would be very interested in talking to somebody that has used equity lines of credit to purchase BRRR properties in the Boise and surrounding area. My RE business is currently made up of single family, but I am itching to purchase a multi family to add to my portfolio.

Every book I read talks about finding a mentor and/or local groups. Not really sure how to go about finding a mentor but would love to hear where other local investors are meeting to discuss projects, markets, strategy, etc.

Forgive me for lack of terminology and naivety, still learning how all of this works. Also, I plan to move and invest in the Boise area full time come this October. Thank you for taking the time.