Newbi - Need some wisdom from you all

3 Replies

Hello everyone,

My wife and I have identified a few states where we would like to begin our real estate investing careers. We are from Washington State but we weren't too keen on any market near us. However, we would love to invest in Idaho to be honest! This would be our ideal place if good deals were available. 

We live and work in Europe but are US citizens. We are looking to be semi-aggressive investors even though our role will be passive.

We are very new to this, however, and trying our best to learn as much as possible as quickly as possible.


1. We would like speak with conventional lenders in Idaho. Any recommendations?

2. If my focus is cash flow, would duplexes be a better option than SFH in some of these markets in Idaho?

3. Should I avoid Boise, or are there still good deals for a newbie to consider?

4. If Idaho becomes an option, I will want to build my team. Any recommendations for attorneys or asset protection companies? 

Thanks in advance everyone.

hi @Josh Smalley

Regarding conventional lenders, I recommend finding a mortgage broker in the city you are most interested in. They will have access to 20+ lenders rather than being just one. A broker that is local to your preferred location may have relationships with local lenders who better understand the local market. 

Small multi-family vs SFR has a couple cash flow factors to think about. A four plex has four pieces of income, which mitigated risk when you have a vacancy (vs having 100% vacancy when an SFR goes vacant). Multis also have shared maintenance things - like a single roof rather than 4 roofs for 4 tenants.

On the other hand, SFR's will tend to have longer term tenants and tenants that care more for the property (if you screen well of course). It's hard for a tenant in a duplex to feel like an owner, so they won't tend to treat the place like an owner would.

I'm from North Idaho - I know the Couer d'Alene and Spokane markets, but cannot be helpful regarding Boise.

For an attorney, I would recommend Robert Rowley in Spokane. He works both sides of the state line. You probably want somebody in close proximity to the county you're investing in, if you'll be needing them to help with any evictions etc. 

@Josh Smalley I am in Eastern Idaho (Rexburg, Idaho Falls, Pocatello) There are a lot of opportunities in particular in Pocatello for MF, it is a college town so is Rexburg but there are less deals available. Depending on what you are looking to be able to do, I know lenders that you can get 10%, & 15% down as well as a good mortgage broker but you'll need 20% through him but you may get a slightly better interest rate. None of them are on BP, so if you are interested PM me and I can send you their info. I've also got a Real Estate lawyer on my team I can give you his info and my wife is a Realtor, so you can get everything you need if you are looking to Easter Idaho, it is considerably cheaper than Boise area...for now. but Idaho laws are very landlord friendly so it is a good choice.

Hi @Josh Smalley - It really has to do with what you identify as a good deal.  I know some great conventional lenders.... but it looks like the first step is to help figure out if we have what you are looking for as far as the market.  We have a blog here on BP about Boise as you get to know the Idaho markets.  We created it specifically for those that are wanting more information about the area.  Best to you in your investing journey!

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