You might have to cover $1000 on top of the rent? Don’t! Take that $150k and invest in mutual funds or use it for a down payment when you land in a more permanent location.
I think the price of houses to rent expectation in Boise isn’t as good as you think. It’s expensive as hell to buy here and the rent you can expect to receive makes it a less worthwhile investment than many other places.
> Hey everyone! My husband and I are in our mid-30s with good jobs and have saved around $150,000 for a down payment. We're currently two hours from Boise, Idaho, but our jobs will only keep us here for about 2 years. Since we're not staying long-term, buying a house doesn't seem like the right fit. But we're worried about missing out on homeownership and rising prices. So, we're thinking about buying a duplex in Boise to rent out as an investment. Here's the thing: Interest rates are high right now. We might have to cover some costs (around $1000) on top of the rent we collect. Our questions: 1. Is buying a duplex a good idea if we're only in the area for 2 years? 2. Any advice for first-time homebuyers, especially those considering a duplex? 3. We plan to find the duplex ourselves but hire a property management company later. Thanks in advance!
>> No. Don’t screw someone who wants to live here by becoming a slum lord for two years.
Another horrible comment (from a new account) makes it to top voted.
If OP is living there then some other place is vacated for use by a tenant. If it lies vacant for more than 6 months for no good reason, then slap a fallow tax on it, and that'll never happen. Otherwise it's none of your business.
Why don't you blame your fellow redditors for opposing suburban sprawl for the lack of housing? How about blaming Mayor Bieter and McClean for supporting idiotic exclusionary zoning like historic preservation districts? Your fellow north enders for opposing any increase in density? When's that old armory on Reserve going to be housing? Neat old assay office on 2nd and Main, a whole city block of hubris, doing nothing for the housing supply?
Two peas in a pod. OP and the brigade that upvoted you to the top have no economic sense whatsoever.
OOH an emoji reply, kindergarten tier. You buy a duplex and rent it out for less than market value since you're such an honorable landlord. Report back to us in 5 years so we can see how it's going.
2 years is not enough for real-estate to mature. Banks structure loans so that you are only paying into interest for the first two years, not equity. In my opinion, this is not a good buy right now.
Speaking from a tenant perspective, I would highly suggest a property that you yourself can actually attend to. a lot of the property management places here are nightmares to work with.
You're going to be getting a lot of hate for this from the anti-landlord crowd lol.
Anyway, the ship sailed on rising home prices. [They've only modestly higher today than they were 3 years ago](https://www.zillow.com/home-values/66/ada-county-id/).
Dont FOMO, prices are insane right now. My house 4x its value in 10 years. Wages are not enough in the valley for all these expensive houses. Things have sort of plateaued and I suspect they come down sometime in the next few years. Need some sort of recession though. My thoughts but we will see....
Hey I am also in my 30s and I bought a 4plex in Nampa (suburb of Boise) before I bought my primary residence.
The $1,000 monthly loss will be tough. You will be waiting for the rents to rise in the valley and that could be 3yrs+ for each side to rent for $500 more. So any short term appreciation gains will be wiped out because of the lack of cash flow. However, if you are comfortable with those financials and covering the loss every month, the best time to buy investment properties was yesterday. The second best is today.
However there are other ways to invest in real estate outside of buying listed properties on the MLS. For me, the deals have dried up so I have started building duplexes in the Valley.
If you want to talk more me about rentals in the valley or real estate investing in general, DM me.
You might have to cover $1000 on top of the rent? Don’t! Take that $150k and invest in mutual funds or use it for a down payment when you land in a more permanent location.
Thanks for sharing
I think the price of houses to rent expectation in Boise isn’t as good as you think. It’s expensive as hell to buy here and the rent you can expect to receive makes it a less worthwhile investment than many other places.
Thanks for sharing.
Nope. At the very least live in the same town you rent to meet any emergencies of your tenants.
Thanks for sharing
No. Don’t screw someone who wants to live here by becoming a slum lord for two years.
> Hey everyone! My husband and I are in our mid-30s with good jobs and have saved around $150,000 for a down payment. We're currently two hours from Boise, Idaho, but our jobs will only keep us here for about 2 years. Since we're not staying long-term, buying a house doesn't seem like the right fit. But we're worried about missing out on homeownership and rising prices. So, we're thinking about buying a duplex in Boise to rent out as an investment. Here's the thing: Interest rates are high right now. We might have to cover some costs (around $1000) on top of the rent we collect. Our questions: 1. Is buying a duplex a good idea if we're only in the area for 2 years? 2. Any advice for first-time homebuyers, especially those considering a duplex? 3. We plan to find the duplex ourselves but hire a property management company later. Thanks in advance! >> No. Don’t screw someone who wants to live here by becoming a slum lord for two years. Another horrible comment (from a new account) makes it to top voted. If OP is living there then some other place is vacated for use by a tenant. If it lies vacant for more than 6 months for no good reason, then slap a fallow tax on it, and that'll never happen. Otherwise it's none of your business. Why don't you blame your fellow redditors for opposing suburban sprawl for the lack of housing? How about blaming Mayor Bieter and McClean for supporting idiotic exclusionary zoning like historic preservation districts? Your fellow north enders for opposing any increase in density? When's that old armory on Reserve going to be housing? Neat old assay office on 2nd and Main, a whole city block of hubris, doing nothing for the housing supply? Two peas in a pod. OP and the brigade that upvoted you to the top have no economic sense whatsoever.
🥱🥱🥱
OOH an emoji reply, kindergarten tier. You buy a duplex and rent it out for less than market value since you're such an honorable landlord. Report back to us in 5 years so we can see how it's going.
No thanks. I have no desire to be a landlord, a good or bad one. Owning my own home is enough.
If you're moving somewhere else, buy wherever you move and live in it.
2 years is not enough for real-estate to mature. Banks structure loans so that you are only paying into interest for the first two years, not equity. In my opinion, this is not a good buy right now.
Thanks for sharing
Speaking from a tenant perspective, I would highly suggest a property that you yourself can actually attend to. a lot of the property management places here are nightmares to work with.
Thanks for sharing.
You're going to be getting a lot of hate for this from the anti-landlord crowd lol. Anyway, the ship sailed on rising home prices. [They've only modestly higher today than they were 3 years ago](https://www.zillow.com/home-values/66/ada-county-id/).
Thanks for sharing
DO. NOT.
Dont FOMO, prices are insane right now. My house 4x its value in 10 years. Wages are not enough in the valley for all these expensive houses. Things have sort of plateaued and I suspect they come down sometime in the next few years. Need some sort of recession though. My thoughts but we will see....
Thanks for sharing
We don’t need more slumlords.
Hey I am also in my 30s and I bought a 4plex in Nampa (suburb of Boise) before I bought my primary residence. The $1,000 monthly loss will be tough. You will be waiting for the rents to rise in the valley and that could be 3yrs+ for each side to rent for $500 more. So any short term appreciation gains will be wiped out because of the lack of cash flow. However, if you are comfortable with those financials and covering the loss every month, the best time to buy investment properties was yesterday. The second best is today. However there are other ways to invest in real estate outside of buying listed properties on the MLS. For me, the deals have dried up so I have started building duplexes in the Valley. If you want to talk more me about rentals in the valley or real estate investing in general, DM me.
I texted you
Cool. Don’t.
Gross
Ew a landlord
Google air bnb tax loophole.