All Forum Posts by: Anna Strausbaugh

Investment Info:

Single-family residence buy & hold investment in Meridian.

Purchase price: $327,000
Cash invested: $80,000

4 bed/2.5 bath renting for $2450/mo

What made you interested in investing in this type of deal?

Found a great price on a nearly new 4 bed/2.5 bath house with upgraded finishes throughout.

How did you find this deal and how did you negotiate it?

It was listed on the MLS. I negotiated it myself, offered above asking price.

How did you finance this deal?

Conventional 30 year with 25% down for a much better rate.

How did you add value to the deal?

We offer flexible leasing terms for people coming into the area who are building homes or looking at buying a new home and don't know how long it will take.

What was the outcome?

Great cash flow, new home that takes very little to manage so we can easily self-manage it.

Lessons learned? Challenges?

Had appraisal issues, but negotiated the sellers down to meet (almost) in the middle.

Thanks @Sean Thompson! It was great to connect with you, glad to help! I love talking strategy!

Hi @Elias Hay! I'm a realtor and investor here in the Boise area and it is a very competitive market for 4-plexes right now. If they have any kind of decent cash flow they are gone in a day or two with multiple offers. It's been an especially busy time right now with a lot of out of state investors coming into the area. Not many MHPs pop up on the market, but they do come up from time to time. If you like mobile homes though, there are plenty of those that you could buy one by one, just harder to find a whole park. If you want to talk about it more I'd be happy to chat sometime!

Hi @Blake Thompson! You've picked some great places to invest! I'd love to connect sometime when you're in the area and hear what you're looking for and talk strategy! Also, I'm always happy to connect you with my team of contractors and other vendors to help you get started here. 

Hi @Sean Thompson! Welcome to BP and nice work on converting your house into a duplex! Navigating planning and zoning is no small thing! I'd love to connect sometime, talking about real estate investing and strategy is one of my favorite things to talk about. I'm an agent in the Boise area, but have been an investor for 12 years now and it has afforded my family so much freedom, I love to share my experience with other people. Let me know if you'd like to connect sometime!

@Steven Soden Every once in a while an old 4-plex comes up, but there are many. Something to consider that I do see more often is two old duplexes that are on the same lot or being sold together. Let me know your timing and I'll keep my eye out for you. Have a great weekend!

@Steven Soden I think that is awesome if you have the lifestyle flexibility to house hack, you definitely should! I'm an investor and agent here in the Boise area and the method I think is best is finding a duplex (or 4-plex depending on your budget) that needs some updating and live in one of the units while you fix it up. I prefer this method to single-family because you end up with two doors and you didn't have to rent out rooms to roommates, which is not ideal when you're married :) There are also some possibilities of finding a property with a small garage or dwelling unit in the back that can be flipped or converted while you rent out or live in the main house. I'd be happy to chat with you about some of those opportunities around here and other strategies to consider!

@Brian Liddy yep! It's still red hot! BUT there are still deals to be had and cash flow to be found :)

Hi @Josh Jack! Jonna is right, you will love it here, everyone does! It all depends on what you're looking for. Star or Eagle have more of that small town feel, but Boise and Meridian have better access to the freeway and more retail. I have two small kids as well, it's a great place to raise a family and enjoy a little slower pace of life. Let me know if you'd like to connect when you're in town! Also, my husband works in commercial construction management and I'm sure he'd be happy to talk to you about that.

Hi @Katharine Wright! I am a real estate agent and an investor here in the Boise area, but I am also very familiar with the Bend area as my in laws live there so we are there often. Several of my clients and extended family have been looking to get out of their investments in Oregon and into Idaho because Idaho is much more business and landlord friendly. Also, Boise is growing just as fast or faster than the Bend area so I think you will find great asset appreciation in either location. I would be happy to chat with you more about both areas if you'd like!