New to town Want owner occupied multifamily . What are my prospects in terms of availability, price, etc.?

Vickie
Home Buyer

Answers (4)
Keith Nichols
Home Seller
OC

Hey I have a duplex in Bonners Ferry that I may sell. Let me know if you would like to look at it!!

Tue Nov 6 2007, 15:43
Kristine Haws
Agent
Boise, ID

Vickie - Availability will not be a problem and since Boise has a less than 2% rental vacany rate, it is a good time to become a landlord. But, if you are trying to cash flow you will want to remember that the loan on this type of property will probably require 10-20% cash down. Then you must consider your monthly payment, taxes, insurance on all units, HOA fees, utilities, income tax, property management (if any), etc. Even though a property may seem to be cheaper because of the price things like taxes, utilities, vacancy losses, HOA fees, etc. may actually make the property a more expensive investment. Ask questions like "does it have seperate meters" and "are taxes figured on individual units (as in townhouses) or single tax record (such as duplex)". I recommend this website for calculating your Cap Rate and investment potential. http://www.realestatecritic.com. I use it all the time and it gives great reports that are also helpful to provide your lender when applying for the financing. Good luck

Sun Nov 4 2007, 19:12
Heinrich Wiebe
Agent
Boise, ID

Sounds like you want specific listings, I've got them. Follow the web reference below. 75 duplexs in Boise for under $300K. If these don't work, tell me why and I'll follow up. If you want to get together and go see them, we can do that too. Best, Heinrich. hw@geniusrealty.com.

Wed Sep 19 2007, 10:27
Brian Brumpton -...
Agent
Boise, ID
FIRST ANSWER

Vickie,

There are lots of multi family units available. As a buyer you have the upper hand in this market, although prices are still appreciating. If you would like more specific information I would be happy to help you with you search. I need to know the area, approximate square footage and all the other little details to find what best suits you. If you would like give me a call at 208-407-3265 or send me an email to Brian@BrianBrumpton.com

Fri Sep 7 2007, 15:23

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 24
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback