All Forum Posts by: Josh Harper

Hey @Josh Harper, my lake house is down in Harrison. So there are a few options in our area. Your budget is too low for lake front. It might be a bit low for downtown or Sanders depending on much work you want to put in.

Personally I think anything north of the Garden District downtown is too far from Sherman Ave. Anything farther east than 11th might be a bit too far as well unless you go as far as 15th and down to Sanders Beach. I would look somewhere in that area. You will get the usual summer crowds plus you can bump up for Iron Man weeks.

The other option would be to go north to Sandpoint. There you can also get the skiing folks who will hit Schweitzer along with Lake Pend Orielle. Prices are about the same as CdA.

As a real estate agent you should have the run of the area.

There are some folks doing OK out in the rural areas but that is really hit or miss. You could also look at Kellog/Wallace for Silver Mountain but that will be winter only for the most part.

I would avoid most of the smaller lakes that feed into CdA. Maybe something on the navigable CdA river. Lot's to unpack here.

Good plan to start out but as you become accredited you will realize that its not scalable and you will drift to syndications... likely after house 4-5 or when your net worth goes over 500k.

Recently we are under contract on a 4 plex in lakewood at $215,000 and we are looking at at ROI of 7%

Hi Josh, I would suggest looking out of state to invest in cash flowing properties. I am an out of state investor based in Northern Virginia and primarily invest in Cleveland in SFH and small multi family units. 75k downpayment can get you a small apartment building. Let me know if you want to connect

If you plan to live in each property anyway, then why not househack better? Buy some 4 plexes in the mix, live in a unit for a year, then another, and so on. You can still reserve some of the units for STR if you would like or rent them all as LT. But then you also have the other units covering your mortgage in the meantime so that you can accumulate more cash savings. That's what I would do. Currently though I am more focused on passive income through syndications so I don't have to deal with tenants and problems.

@Josh Harper

It really all depends on your investing goals. Then, your available resourcing. For example, after purchasing the first property, how will you afford the second? WIll you be able to build up the capital for it? Or, do you qualify for 0% down loan? Even FHA 3.5% or 5% conventional will add up. Plus, the costs of moving and closing costs, of course.

Not sure what your plan is for financing, but that is one of the aspects that is overlooked.  Certainly, there can be many ways to handle it, but many investors don't look at it closely enough or just figure "where there is a will there is a way."  This is probably why there are so many threads with people asking for last minute help on financing issues because they didn't look ahead well enough.