All Forum Posts by: Ryan Spath

@Don Spafford

Thank you. I’ll check them out.

Does anyone have a contact for a bank/broker that does cash out refi and operates at competitive rates?

Have been working with MACU and they are @ 3.625% the broker seems to be to busy to want the business.

ICCU is readily available but there rates are much higher than the above posted.

Thanks in advance.

@Crystal Wilson

Look at your market and see what others are doing.

In Idaho it’s common to pay a non refundable deposit and monthly per rent.

It all depends on the type of property too.

Good luck!

@Quandra Adams

You don’t owe him anything. If he rented the property for a year, he is responsible for the unit until the year is up.

@Matt M.

I’m at 2.5, we always consider the persons credit and payment history. Speaking with previous LL’s is a big insight to the persons payment history too.

Good luck!

@Zach Simpson

Read the book “set for life” by @Scott Trench

It is a perspective changer, and the choices you make now will either “set you for life” or keep you in the rat race.

Best of luck!

@Anthane C. Richie Sr.

Know your market, what are the vacancy rates? What are other units similar to yours being rented for?

The average person isn’t going to move over a $10-20 a month rent increase.

Most businesses have increasing costs as does the RE business. I’m sure your property taxes have increased, the plumber that you use to come out and repair toilets has increased his prices, it only makes sense that the rent have a small increase as well.

Also, when you train tenants this will happen they come to expect it.

Best of luck!

@Gregory Jerome

$1,000 at minimum if not 1%. The higher dollar amounts will be taken more serious.

@Shan Vincent

It really depends on what your RE goals are. Do you want to own more units and leverage the equity for higher cash flow and returns?

Are you comfortable investing in other areas where the prices are more affordable?

After you define your own goals, the decision of what to do with the unit will be easier for your personal needs.

Best of luck!

@Stephanie Salas

My wife and I own rentals in Boise and it has been great for us. All of our rentals are SFH, so no sure how the multi-unit does. We have steadily increased rents year over year, and always have a large demand for our properties.

Why wait? If you find a property now and it meets all your criteria go for it. However, should the property not already be occupied be aware that the upcoming winter months can be more challenging to occupy the units at market rents.

Best of luck!