I’m looking at the Pocatello market and wanted to see if anyone has some insights/advice on the market. Things to know and watch out for in Pocatello and CU’s that are investor friendly?
The type of properties that I’ve been looking at are mainly multi family properties near the university (ISU) area.
Hey there “neighbor” (I’m in South Jordan) I’m looking into this as well and would love to know. I’m also interested in Rexburg, ID
@Matias Pereyra and @Stephanie Clark That is a good area to invest. Comparing to Rexburg and even Idaho Falls, you can find better deals near Pocatello. The only thing to keep in mind is that most of the properties are very old. For student rentals, most landlords include all utilities and many units are not separated anyway so they have to include it. Ones that are priced right sell fast. Are you looking into small MF (2-4 units) or are you considering large MF? I do invest in that area and manage myself and am looking at some larger MF. If you need any help or have properties you want to know more on, let me know and I would be glad to help. My wife is a realtor so we can get into any property that is for sale on the MLS or craigslist, whatever. Finding the off-market ones is more of a challenge. I have seen some wholesalers selling some that are still too high of a price.
@donspafford. What about building a multi family. I noticed lots are fairly cheap. Are a lot of places there’s zoned for multi? I also noticed there are a lot of people with animals who are having a hard time renting. I actually wouldnt mind as I plan on doing waterproof wpc lvp flooring throughout most areas.
I am in pocatello currently, perhaps I can help.
I am just starting out in real estate investing and am happy to
help out to build my network and knowledge base.
@donspafford - I am currently looking for duplexes and triplexes that are separately metered. Would you happen to know a good portfolio lender in the area? I am currently house hacking and I’m trying to find a lender that will recognize that income.
I’m also trying to figure out what the nice parts of pocatello are and what areas you would recommend to stay out of.
@Matias Pereyra Sorry I didn't see your post earlier, the message thing didn't work for some reason as it didn't highlight my name in Blue. But yes, Mountain America Credit Union does portfolio loans and will count any future rental income as your income to help qualify.
@Stephanie Clark Sorry I didn't see your post earlier, my name didn't appear in blue so something must not have been working right to send me a message. Lots are getting harder to find but there are some available, and some units on a double lot that could have more built. I am actually in the beginning phases of a large apartment complex deal that if it all works out will be a new build. Yes, many people have pets. I was against it at first myself but people happily pay additional pet rent. If you rent proof the place, it isn't a big deal. Smells are the biggest concern, but as long as you have limits and don't allow people to have 30 cats you're probably ok. I have in my lease that any pet messes must be cleaned up immediately and tenants are responsible for cleaning carpets before moving out.
If you are looking for properties in the area, let me know what you need and I can help you find them. My wife is a Realtor so we can get access to anything you want to see and can send pictures/video if needed.
I am a local experienced Realtor in Pocatello, I would love to help
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