All Forum Posts by: StacyA McBain

Good crystal ball question @Lucas Villanueva. In short, as long as the in-migration continues, and the supply remains stressed, it's hard to imagine anything drastically changing. As/if those items shift, so would our market. So far, Covid-19 has only served to fuel the in-migration here. 

Stacy

Hello Jennifer! We're out here. Investor. And investment-specializing agent. And founder of a local investor club in Boise, Idaho. Sometimes a little busy making it happen, to spend too much time on BP, but thanks for reaching out. 

AVID Investor's Club 

Mission

To serve as THE resource for local real estate investors who want more. To share valuable information, knowledge and expertise through guest speakers, and the agents and associates of Swope Investment Properties. To help investors stay on a goal-based pathway to a smart real estate portfolio and increased personal wealth.

Who

Investors who value expertise, education, and good deals. Swope agents have invited their clients, friends and connections.

When

The third Wednesday of the month at 6:00 p.m. Contact us for location specifics and to RSVP. [email protected] 208-549-9987 Free of charge. Beverages and bites may be provided.

@David Sosa

Based on my experiences, my recommendation would be to hire a manager or to convert it to a long-term rental if you decided to do it yourself from afar.

I can see Handling a long-term rental from a far, but DIY management of a short term rental is more complex and includes a lot of moving parts, and it brought me to the property fairly frequently. I had a cleaner not show up when I managed my own and had to clean the place myself. I had a TV stop working and had to run to Costco to grab a new one. You would need quite the reliable team of resources.

That being said, I agree with everyone who says it’s expensive to pay a Manager. I did absolutely nothing when Vacasa managed for me but i also made little more than I would have made as a long-term rental. A licensed realtor managed another for me for a lower %, but it wasn’t 100% comprehensive and ended up inching pretty close to the same fee that Vacasa charged, which was comprehensive.

Good luck!

@Stephen Lay nice job so far. Jonna’s meet ups are great. You’re also invited to check out AVID Investor’s Club, which meets next 2/19 and 3/18. AVID is well rounded but caters toward buy-and-hold investors for cash flow and aims to educate.

Stacy, Swope Investment Properties

It's time to kick off the New Year with clear 2020 vision. You don't want to miss out on this opportunity to see (and hear) insights from Arla Kester, Partner and CPA at B.A. Harris, LLP!

We'll be offering savory and sweet refreshments and treats.
Kindly request your invitation using my email address. 

If you can keep it and still cash flow, I'd lean toward a refi, unless you want to take advantage of this long-running strong market and capitalize on the gain/current values. When looking for cash, a heloc on your primary residence could be another option. There are multiple ways to structure it. As long as keep in mind that your home is the collateral. 

Here's a brief summary of the November meeting. Our next meeting is January 15th - don't hesitate to message me for your invitation. 

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If the video link doesn't show in this post, you can search YouTube for "Avid Investor's Club" and it's the "owner carry loans" video. Or find my Facebook Page "InFlowProps"

Happy Investing, 

StacyA McBain

Swope Investment Properties

Sad that it's easier to provide examples of why NOT sometimes. When screening, I recommend asking if they do their drive bys and annual walk through inspections. And if deposits are held in trust (not required in Idaho). That's something First Rate Property Management upholds for both single-and multi-family properties. I appreciate their ethics and established procedures and know the company fairly well, as I work with its founder Tony Drost, who also is a licensed broker at Swope Investment Properties. 

A younger, growing company focusing on multi-family that has an experienced manager and broker behind it is Doug Bolen's management company, Total Asset Management. I'd be happy to share Doug's contact info with you if you'd like. I don't know the rest of his crew yet. Disclosure, I also work with Doug. Not surprising to work with a few good ones, since the small RE brokerage I'm at specializes in the residential income and apartment niche. (These referrals are without financial incentive).