All Forum Posts by: David Davey

Hey Colton, I am a local Realtor, born and raised. My 3 person Real Estate team focuses on working with investors looking to acquire 1-10 properties a year. I highly recommend this local group: 

REI Club Meeting CDA
September 3, 2020 @ 6:30pm​

​Join us on the first Thursday of every month for free networking and education! New guest speakers each month!

Keller Williams Realty CDA
3931 N Schreiber Way
Coeur d'Alene, ID 83815

Hey Mike, I know I'm late to the party. If you still have a need or a future need I think Jim Boudreau is top notch. Known him for years, stellar reputation and an impressive portfolio. He's just a great guy too. Real man of character. 

http://www.eh-design.net/jim-boundreau

Hey Josh! My team focuses on North Idaho, Kootenai County. I would recommend CDA, Hayden, Post Falls and Rathdrum. Depends on size, private/public schools, preferred outdoor activities (camping, shooting, fishing, hunting, bike/atv, boating, cycling, snow/water skiing,etc). 

Here is a link to a relocation guide that we developed for just this situation https://lakecdarealestate.com/north-idaho-relocation-guide/

A few things our area has to offer: Silverwood Theme Park/Boulder Beach Water Park, Lakes, Golf, Hiking, Biking, Resort Life, close to International Airport, extremely family oriented communities, great Public, Charter, Private, on-Line Charter and Homeschooling Co-Ops. There are numbers to everything I mentioned and way more in the relo guide.

I think we can add some value on the contracting side as well. The above guide has numbers to all the home builders and more that may be of use. My team is heavily involved with NIBCA (North Idaho Builders and Contractors Association). My business partner Michelle is a Director, my other team member Jared ran their Home and Garden Show this year and I just accepted a role as Government Affairs Director for NIBCA.

We also support PWB (Professional Woman in Building), Parade of Homes, Kootenai County Young Professionals, and more.

I was a GC in Spokane for a number of years and did a little contracting myself. I am also keenly aware of the fastest growing micro-communities and neighborhoods in my market. Lastly, me and my whole team have raised our families in this area and we ALL love the outdoors.  

I think our area checks every single box. I'd love to discuss with you! If you are open to that, here is a link to my availability and simple scheduling: https://vyte.in/davedaveyhomes... 

At the very least let's connect on social media!

I wish you and your family the best on your house hunting this summer. Feel free to reach out for ANY reason.

Dave Davey
Lake CDA Real Estate /
Windermere Coeur d'Alene Realty, Inc

Investment Info:

Other private money loan investment in Spirit Lake.

Purchase price: $56,000
Cash invested: $23,000
Sale price: $100,000

Purchased a 5 acres parcel of land with a dry cabin and non working well, no electricity, no city services. Initially had to bring water onto the property with a 350 gallon water tank in back on my truck.

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

My wife and I wanted to live off grid and wanted to buy and investment property at the same time.

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

Saw it advertised. Price was recently reduced and we made a full price all cash offer.

How did you finance this deal?

We sold our previous home and had proceeds of $26K. We were desparate to get into an investment. I asked a relative if they knew of anyone one that would loan me $30K if I agreed to give them a 33% return in 5 years making monthly payments with no pre-payment penalty. One call and done! Once the property was completed, marketed and sold, we called the private lender to surprise them with an early balloon payment.

How did you add value to the deal?

Installed a well pump, pump house, breaker box, holding tank, plumbing for kitchen and shower, solar panels and more. Built a state of the art composting toilet. Cleared trees to thin out property for better growth. Upgraded driveway, etc.
Entire property runs off solar and generator.

What was the outcome?

Awesome! 15%+ profit