All Forum Posts by: Zachary Smith

the first step is the biggest one!  Congrats!  

I would be interested in any investment properties in idaho falls. 

Welcome to Bigger Pockets!  I am a real estate broker in the Victor/Driggs area and invest in Idaho Falls.  

@Chrystal Browning I would be interested in the REI group. What time and where do you usually meet?

Congrats!  I am a Realtor in the Jackson/Driggs area and my wife and I invest in properties in Victor and Idaho Falls.  If you ever want to meet up for lunch let me know. I would love to crack into the Rexburg market but don't have much knowledge about that area.  Let me know if you start to wholesale in IF and Rexburg, I would love to be on your list. 

@Matt Donley

There are a lot of good nuggets in this post. Setting up a spreadsheet that analyzes all of the different aspects talked about in this thread can really be effective in comparing apples to apples. The Excel spreadsheet that I have has ROI (cash on cash) with and without appreciation based on different loan products, ARMs 3/1 & 7/1; 15 year fixed and 30 year fixed. This helps me decide how long to hold the property. I figure appreciation based on the average or median (we are in a non-disclosure state so average sometimes gets skewed with many solds being reported as $0.00) price increase based on the micro-segment (condo, townhouse, single family, multifamily, neighborhood...etc) of the market that I am investing in (Idaho Falls or Victor, Idaho or Jackson, Wyoming), where we are at in the cycle, and how long I plan on holding the property. This is one bottom line on the sheet.

The second bottom line on the sheet is the cap rates net and gross.

As @Account Closed pointed out, cash flow is not as important to cash heavy investors playing the low maintenance appreciation game. But it is important if you are trying to look ahead to finance your next deal and don't have a lot of cash or income to float the next deal.  You do need to ask your CPA about the depreciation factor as well.  From the way that I understand it to depreciate a residential property it needs to be "available for rent".

There are lots of ways to skin a cat but I personally think it is helpful to set up your own spreadsheet with everything that makes sense to you and then over time pay attention to which segments of the sheet make the most sense to you.

It really depends on how people are valuing future appreciation. The resort markets are difficult to meet the 1% rule. 

H&M will just reply back if the bid is insufficient. Start low and work your way up. You can try to contact H&M and see if they will give you their interpretation of what FMV and go start with 2/3 of that to see if you can draw a counter out.

Welcome to BP!  I am a real estate broker and investor in Victor, ID.  What are you looking for?  In case I come across a smoking deal in your neck of the woods.

@Cole Schlack

Hello Cole,

Would love to buy you lunch next time you are up in Jackson.  My wife and I have 3 condos in Victor, ID and are looking at turning them into vacation rentals from long term rentals.  If you don't mind sharing, what are some of the things that you have done with your vacation rentals to differentiate your product from the rest of the herd?