Vickie, Home Buyer in

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

Asked by Vickie, Fri Sep 7, 2007

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Answers

6
You have some wonderful options. Currently there are duplexes that are in the 130 range and up. Fourplexes are in the 200 plus range, depending on where they are. Let me know if you would like any help with these. I have helped several people find great deals where the rent has paid most of the mortgage.
0 votes Thank Flag Link Wed Sep 26, 2012
Hi Vickie ~ welcome to Boise! Please feel free to call me anytime for a personal showing.

Wayne Bright
Realtor
Keller Williams Boise
208-286-8660
Web Reference: http://www.kw.com
0 votes Thank Flag Link Wed Jul 27, 2011
Hey I have a duplex in Bonners Ferry that I may sell. Let me know if you would like to look at it!!
0 votes Thank Flag Link Tue Nov 6, 2007
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
0 votes Thank Flag Link Sun Nov 4, 2007
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.
0 votes Thank Flag Link Wed Sep 19, 2007
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
0 votes Thank Flag Link Fri Sep 7, 2007
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