All Forum Posts by: Tyler Kruenegel

 Hey Brunno.  I’m in Idaho we use title companies here happy to point you in a direction of a good one.  Also know some good attorneys. 

@Wayne Brooks to say it’s never going to happen is a strong word. There is a lender in almost every market that will do this. You just need to find a portfolio lender that will takes appraised value vs purchase price. I just did exactly this in July. Got a house at $462,000 it appraised at $590,000 so I took a loan for $500,000. In this case seller was paying all closing cost so I put $38,000 in my pocket.

@Peter Schafer yes it’s legal. The ticket is finding a portfolio lender and obviously you’ll need to have equity at purchase.

@Ryan Weimer give Connections credit union a call they have some good portfolio loan products. I’m using them right now on a single family. They are the only lender in the area I could find that will take appraised value if it’s greater than purchase. I’m not 100% if they do commercial though. I imagine yours would fall in the same category they would just take appraised value without seasoning.

@Nick Schiele fixer uppers on the MLS are almost non existent and the ones I have seen are still moving for over appraised value. Moving a little farther from Boise you might be able to get closer to that number. Think Nampa, Caldwell, Middleton.

At 3-5% down I take you are currently looking for a primary residence? Are you after a multi family for a house hack?

I would recommend reaching out to @Corby Goade if he doesn’t end up commenting here.

@Jerryll Noorden seeing this post from when you started is humbling! Incredible what you’ve done in 5 years! And shows what can be done if you just take action.

@Julie DeWolfe Arroyo @Shannon Robnett is developing apartments in the area although he is not repurposing old single family home lots. He is seeing really good returns doing ground up construction of new large apartment buildings.

@Jake Spainhower

Hey Jake there are a couple groups on meetup in the area that are active including some weekly groups. I’ve sent you a connection request and I can share some links.

Thanks everyone for the advice.  Want to follow up with how I got it done in case someone else stumbles on this thread in the future.  Called the county assessor and was able to get the owners name.  I was then able to use the name to find his number on Whitepages.  Managed to get a hold of him first call! 

Hey Eric I’m am a new investor to the area as well. I will be in and out of Boise until May and then living there full time after May. Send me a PM would be awesome to get together and talk real estate.