Hey just seeing if north idaho is represented in here. Are there any CDA duplex, fourplex, triplex up here?
Hard to find any good deals in CDA. I keep my eyes open, but find a lot more in Spokane. Better rent to purchase ratios.
HI @Justin Heitter - I am down in Boise, but wanted to pop in and say hi! I am a Sandpoint High Graduate, and North Idaho is dear to my heart. There are some active BP'ers in the the area up there. Not sure who if anyone does meet ups. Maybe someone will chime in! If not, you should start one! I hold meet ups in Boise, and they are a great way to connect and learn the market.
Are you deadset on the property being in CDA? You might having better luck finding a cash flowing property in one of the surrounding towns, Rathdrum or Post Falls perhaps? Although admittedly I haven't seen many multifamily properties in the area at all. Just browsing around though I've seen some nice potential in some Spokane listings like @David Clinton III advised.
You will defeinty see higher returns in Spokane. N Idaho does still have a lot of investors, and yes there are multi units to be invested in. What I have scene is a lot of them are newer builds that investors built/had built themselves. I think this is because Post Falls and CDA have scene a great portion of its growth relitivly recently. N Idaho is a great place to move to. What we are seeing right now is a lot of people move to N Idaho to retire. I spoke with several local agents and they are seeing lots of people move from CA. This makes for a lot more middle class homeowners and families moving here.
While on the contrary spokane has historically had a higher amount of lower income people which explains the bigger demand for rentals. In the big picture this caused more multi units to be built. Curentlty however due to the hot market houses and multi units alike sell really fast in both markets. I know some investors are willing to take lower returns, others are off loading the properties they dont like and waiting for the market to cool down. At the end of the day though even in a hot market in my opinion there are plenty of deals to be had. You just have to be more creative, and potentially even look for ways to get off market deals. There are also a handful of solid wholsalers in the area. PM if you are interested.
Speaking of REIs @jonna Weber There is a local Real Estate team that does REI meetings the first Thursday of every month. Here are the details: https://www.northidahorei.com/
Nick Beveridge is the host. He is an investor and agent himself. He is very knowledgeable. I would definetly reach out to him if you are interested in aquiring N Idaho investments/multi's etc.
Justin I look forward to meeting you at the next REI perhaps?
Best wishes in your investing,
Keep up the hustle!
I am late to the party -- just found this forum. I am an investor from Post Falls. If you are interested in Idaho multifamily, you should consider joining the Idaho Apartment Association. They are based in Boise, but hold meetings/trainings every 3 months in CDA. I have been very impressed by their trainings. Membership is $100 a year.
Don't know why this thread didn't show up on my alerts but yes! BP is alive and well in North Idaho. @Bettina F. The Apartment Association sounds interesting but I didn't see anything on the calendar up here.
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