Looking for BRRRR strategies in Boise (first-time)
First post!
Any Boise investors here? My partner and I will be living in Boise for 6 months from California temporarily and are looking to find our first investment property during that time. It would be great to hear what strategies have worked for you recently in the area.
(We aren't from California and my partner is also just looking forward to seeing winter again.)
I am not married to specific strategies yet, but here are some general goals:
- Down payment in cash is fine, so long as a cash out refinance is possible in a reasonable timeframe (BRRRR, though avoiding seasoning would be great)
- Looking for areas with tenants who tend to stay around for many years
- Looking for at least some cashflow for buffer and to allow us to continue re-investing
- I am looking for long-term investments, so appreciation is not the primary goal
- Want to build a great trust-worthy team since we'll be doing repeat investments even when we move back to CA
- Not looking for major (plumbing, major damage) renovations, since this is our first investment
For you Boise investors, I am curious what approaches have been working for you lately. It's hard to get a reliable read on the market and understanding what is due to the COVID situation vs. fundamental supply/demand shifts.
Also happy to connect when I'm in town.