All Forum Posts by: Tyler Resnick

Further west the better. I believe Garden City is experiencing gentrification and has lots of promise. More so then I can ever remember really. Their permitting is fairly straightforward but if you are changing zoning, you may face unpredictable outcomes during public hearings. I know of a few developments that got derailed in Garden City because of this. Nothing to do with the planners though. Just NIMBYism.

Cost per square foot depends on your level of finishes, density, and construction timeline. Builder grade multi family is around $140/sf right now and it only goes up from there. PM me, I would be interested to hear about your plans.

@Dustin S. I know how to make your decision easier... sell me your 7-unit and I will pour the concrete :-)

You are not going to get a concrete quote cheaper then the $4.16/sf in Boise. If you get a cheaper quote, I would be concerned about schedule and quality.

Asphalt pavers in Boise are SLAMMED and really hard to come by. Asphalt paving next to pavers and buildings is tricky and sometimes near impossible. Hand work, raking seams, etc. makes a less durable asphalt surface as well.

Don’t listen to anyone if they tell you salt doesn’t damage concrete. I have fixed the devasting effects of salt chloride contamination in concrete to the tune of hundreds of thousands of dollars. Once salted, there is no getting it out of the concrete profile. There is no cure, sealer, additive, etc. for concrete that will hold up to salt. It will ruin it, end of story. 

Reach out to me and let’s talk. I have been doing large scale construction in Boise for years. My partner and I are doing some investing on the side. I might be able to help out a bit if nothing else we can at least chat about some of the interesting things in this market.

Never ever cut in to a post tensioned slab without x-raying it first for PT cables. IF you hit one, the intense pressure they are under can release and severely damage the concrete, or worse, hurt or kill the saw operator. X-ray first. Safety first.

I am one that usually doesn't shy away from a challenge but what you just described is a massive problem. Brick has weak lateral resistance from pressure and brick walls respond poorly to tension. Too many joints and they are not bound, consistent, and uniform structural assemblies. Great for compression, bad for tension. You are most likely replacing those brick walls with concrete and it will be very expensive. Buy it right.

Don't jump in to something just to jump in to something. Be at least somewhat confident that you are going to pull some cash flow and plan your exit. You want REI to enrich your life and not drag it down. With that said, Boise is a boom or bust town. This town has a history of feast or famine. Boise's wave has gone tidal wave and the influx of people moving here has spiked demand in SFR's. Be cautious. When properties are routinely selling in a day over asking, that is indicator of a imbalance in the market. I am now focusing on finding off-market deals because short of developing raw land, it is the only place that I see opportunity in Boise proper. I also believe that purchase prices have spiked so rapidly here that rents haven't had time to catch up.

Generally speaking, I have a pretty good pulse on this area, have done a lot of research, and discussed this market in detail with a lot of contractors and RE developers in Boise. Here are some key market indicators:

• Idaho is the fastest growing state by population
• Idaho was 1st in construction job growth since 2016
• Idaho has the 4th lowest construction unemployment
• Idaho has a construction unemployment rate of 2.9% which is the lowest ever recorded
• Boise Metro has 1.7-months of SFR Inventory, 4 to 6-months is equilibrium
• Boise Metro average rent is $1,101, and average purchase price $277k 

If you are a average retail buyer, according to the law of averages, you are falling at a .4% Rule. Haha! Cash flow is king. Speculation is gambling, especially in a high stakes game in a high stakes market. I'm cautiously optimistic but will remain cautious because deals are 'relative' as related to their respective market, and this market is tighter then the skin on an apple.

If you are on a boiler, it might be a good idea to remove it and put in central AC. If it is already a central AC, do not replace it until it fails. Even if it is a 70% efficient furnace, depending on your utility rates, you are talking about a relatively small benefit to go to a 90% efficient unit. I did the math once and it would take me approximately 32-years to recoup the cost of replacing it based on smaller utility bills.

Depends on type of use, level off finishes, and local market factors. The cost will be highly dependent on your local economy and construction market. In Boise, ID we would be anywhere from $125 - $250/sf

Expect that your sewer and trash is going up every year from here on out. Meridian is undergoing a huge expansion on their Wastewater Treatment Plant and so is Boise. Huge projects cost a lot of money and will be reflected in the rates moving forward.

In my area, Boise, ID:

$500-$750/tree demo

$50.00/lf - 6” Ductile Iron Water Line, 5ft Bury, Standard Soil, Excavation, Bedding, and Backfilling Included

$2.50/sf 3” HMA Road Paving