The rental market in the Boise metro area (Meridian, Eagle, Nampa, Kuna, Star, Garden City) is currently strong for investors. Low vacancy rates (high demand) and low inventory have driven rental rates upward the last several years (creating greater cash flow for landlords). The national housing and financial crises have also contributed to higher demand for rental units because more people have been forced to rent as they have lost their homes.
Look for a local Real Estate Agent who is experienced and prolific in the area. My best advice is to ask for references and to speak with past and current clients. You can also conduct your own due diligence by searching real estate website to find comments and testimonials about the agents you are considering working with.
Also, ask to see the agent's year-to-date production numbers. If they have not been active in the LOCAL market for the last 6 months or so then they probably are not up-to-speed with current market conditions. This lack of up-to-date market knowledge could cost YOU money by over paying for your investments! Many agents are part-time agents and thus lack knowledge and expertise necessary to be well qualified. Make sure you find an agent who is a full-time professional.
Don't forget the importance of a good property management company. Since you are out-of-state, you will need a competent property manager to look after your investments.
Best of luck!
Let us know if we can assist you further!
WestOne Properties Group
Keller Williams Realty Boise
Once you have done that, you may want to see what is available to purchase. The market is great right now and the interest rates are phenomenal. Prices are increasing on existing properties and all indications are that this will continue. I would be considering buying as soon as possible.
If you have any further questions, please let me know. You can contact me through my website below.