How difficult is it to find deals in Idaho/ Boise and around? Looking forward from local investors.
I have been an active Investor in Greater Seattle area, but now want to diversify. Heard anecdotes that Boise is a great place to invest and it is still possible to have deals.
I’ve actually been looking into the Idaho market as I’m moving from Salt Lake City to Boise in May. I have a few units here in SLC, but would like to diversify as well. I’ve been following the market in Boise and it seems like there is a lot of opportunity there.
My wife and I are looking at doing a live-in rehab for a multi family unit or just a single family rehab. Boise is the fastest growing city in America right now according to Forbes (article came out about two weeks ago). It really is a healthy economy with components of Agriculture, Construction, and Tech all thriving right now. I’m excited to get to know the area better, but feel excited about the prospects of moving up there. If you ever need a “boots on the ground” let me know and I can help you out.
I'd recommend doing your own direct to seller marketing or connecting with wholesalers to find off market properties. You might not be able to make numbers work with MLS properties due to explosive growth and low inventory.
Check out @Jonna Weber and her quarterly meetups. Also, go to Meetup.com. I host a wholesaler meeting every Tuesday and Boise Investor Group holds meetups as well. They are great resources for deals !
@Cody Stone and @Rudy Manna Boise can be a little more challenging for direct to seller marketing as this is a non-disclosure area, meaning the counties don't directly provide real estate information to list compilers. As a result, no Absentee Owners or lists rich in information about the property.
You can however use homeowners from a consumer database to target likely sellers. One list is Seniors with 20+ year ownership. I pulled the following numbers from our Consumer List using the following criteria:
Homeowners, Age 50-89, Home value up to $250,000, purchased 1998 or before, single family homes in the Boise area counties.
The second column is a subset of the first where the homeowners have a low Financial Stability Score (FSS)
Ada, ID 6535 1087
Canyon, ID 1516 560
Gem, ID 103 38
Owyhee, ID 78 54
Unfortunately, Boise County doesn't have much on homeowners even on the consumer list.
Hey Rudy and Matt,
I am originally from Boise, but live in Los Angeles now. I have been buying SFR's in the Boise area for the past few years and now looking for Multi family in the area. My properties are in Nampa and I have seen them almost double since we started buying. That's good if I was interested in selling but makes it a lot harder when I am trying to buy. If you have any questions about the area I am more than happy to help with what I know.
Hi @Rudy Manna - It all comes down to what numbers you are looking for. For long term - Boise is looking great. For short term, the cash flow is slim. If you haven't visited lately...I encourage you to do so. Lots happening here to say the least!
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