Questions from a new investor in Boise
Hi all,
My husband and I recently sold our home in Portland, OR and are moving back to my hometown of Boise. I am a social worker with my MSW and my husband is a real estate attorney. We are both wanting a slower, less chaotic pace of life and are finally ready to take steps towards real estate investing in the Boise area. My husband will be working for his Portland firm remotely (many of his clients are in the Boise area) and I am planning on taking a step back from clinical social work and attaining my real estate licence.
After doing a lot of research on BP, I thought it would be a great idea to buy a multifamily property and house hack. However, after analyzing a lot of these MF properties in the Boise area, the numbers just don't add up. It seems like single family properties would be a better choice for the money.
So my two big questions are:
1. What are your opinions about investing in SFH or multifamily in the Boise region specifically? I understand you have to "make your own deals", I'm just wondering what that looks like in the Boise market.
2. Can anyone recommend a good wholesaler in the Boise area? I would love to get in touch.
Thank you for any advice you have to give! I am excited to get to know folks in this arena once we move over next week. Any advice for a new realtor would also be appreciated.
-Erin
hi @Erin Brecht. Welcome to the Boise market. Our multi-family inventory is indeed extremely limited. There are some great wholesalers here in Boise. I will message you!
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Real Estate Agent ID (#SP41257)
- 208-608-4884
- https://jonnaweber.reloly.com/
- Podcast Guest on Show #80
Erin - we recently moved here from Minneapolis with seemingly similar motives and ideals. After failing to find a suitable multi-family that had workable numbers we started looking at properties with guest house / "mother-in-law" suite potential and were pleasantly surprised with the options...especially with some vision. Depending on the neighborhood there seems to be a fair amount of these properties "hiding" in the single-family listings. We unexpectedly (and now thankfully) ended up in the Vet Park / Sunset area and have been AirBnB'ing our "extra" unit with amazing results thus far. The AirBnB market seems underpriced (perhaps due to large inventory) - but bookings seems to be strong. We are 7 months in and are averaging 20 nights booked per month with 0 issues thus far.
