Boise Turnkey Properties

Waiting For the Perfect Deal

Sun, 19 Apr 2026 12:10:10 GMT

Is timing the market better than time IN the market?

Investing can be scary. It's so easy to fall in to that trap of hearing someone on a podcast who says interest rates are coming down next month. The temptation of listening to that one uncle at Thanksgiving who swears a "market crash" is just six months away. Heck, he bought two rental properties in the 90's and lost it all- he KNOWS what he is talking about!

You want to pull the trigger on your first property or that dream house hack, but you’re waiting.

You’re waiting for rates to drop. You’re waiting for the perfect fixer-upper that doesn't actually need fixing. You’re waiting for the "perfect moment."

The truth is, perfection is the enemy of equity . If you’re sitting on the sidelines trying to time the market, you isn't just "being careful"—you’re likely losing out on the greatest wealth-builder known to man. Let’s talk about why taking action beats waiting for perfection every single time.

1. Time In the Market vs. Timing the Market

In the world of real estate investing, "timing the market" is a fool’s errand. Even the pros get it wrong all of the time. The real magic happens through time in the market.

When you buy a property, you kickstart three powerful engines:

Appreciation: Home values historically trend upward over the long term.
Amortization: Your tenants (or your roommates in a house hack) are paying down your principal every month.
Tax Benefits: Depreciation and write-offs start the day you close.

Every month you wait for a 1% dip in interest rates is a month you aren't building equity. You can refinance a mortgage, but you can’t go back in time and buy at yesterday’s prices.

Gary Keller has an anecdote that I really like in reference to this idea of timing the market. The only way that you can know that you got the best interest rate or you bought at the bottom is in retrospect. You can only know that because it just happened last month or last week and now it's back up and you missed it. Perfect timing is pure luck, nothing more than that. You can only control taking action when you have the means and resources.

2. The "Perfect" Property is a Myth

If you’re looking for a house hack that has zero maintenance issues, is located in the trendiest neighborhood, and provides great returns on day one... you’re going to be looking forever.

The best investors don't find great deals; they make them. Taking action on a "good" property—one that checks 70% of your boxes—allows you to start learning the ropes of property management and renovation. That first "imperfect" house is your bridge to the "perfect" portfolio later.

If you have limited investing experience and have created an objective buy box, know that the magic happens in the grey areas. Having some flexibility is a strength, not a weakness, it can open your eyes to possibilities that you'll miss if you are too rigid.

3. Analysis Paralysis is Expensive

Analysis Paralysis is the act of over-analyzing a situation to the point that a decision is never made. While you’re busy running spreadsheets for the 100th time, someone else just bought that duplex, rented out the B-side, and their tenant is covering most of their living costs.

Your first deal doesn't have to be a home run. It just needs to be a "base hit." A base hit gets you on the scoreboard and builds the momentum you need for the next one. I'm a baseball guy- and the teams that get on base the most are the ones that win the world series, it's not about the home runs.

How to Take Action Today

You don't need to be a mogul to start. You just need to be a practitioner.

Get Pre-Approved : Know your numbers so you can act when a "good enough" deal hits the radar. We work with lots of amazing lenders who can coach you and get you ready to make moves.
Define Your "Must-Haves" : Stop looking for everything and start looking for the essentials (location, structural integrity, rental potential).
Embrace the House Hack : Use an FHA loan with a low down payment. It lowers the barrier to entry and mitigates your risk.

The Bottom Line

The "right time" to buy real estate was ten years ago. The second best time is now.

If you're curious how you can take your first step towards financial freedom, send us a message in the chat on the bottom right of the screen and we'll get you rolling.

Happy Investing!

The ROAD to Housing Act and How it Effects Investors Like Us

Tue, 07 Apr 2026 11:58:54 GMT

he ROAD to Housing Act: Is the Era of Corporate Wall Street Landlords Over?

If you have been following the news lately, you have probably seen the headlines about the 21st Century ROAD to Housing Act, also known as H.R. 6644. It is being framed as a David vs. Goliath moment for the housing market, and for once, the hype might actually be justified.

For years, you've heard stories of large institutional investors treating single-family homes like stocks—buying them in bulk, sight unseen, and pricing out everyone else. This new law is the federal government finally stepping in to say enough.

But how does it actually work? Let’s look past the political noise at the nuts and bolts of the legislation.

Who Exactly is the Target Under This Law? The Act does not go after the person with five rentals or even the local developer with 50. It specifically targets large institutional investors, defined as any entity that has investment control over 350 or more single-family homes.

If a company hits that 350-home cap, the rules change. They are banned from buying any more existing single-family inventory.

The Seven-Year Clock : This is the part of the bill that actually has teeth. The law does not just stop new purchases; it creates a sell-by date for certain types of acquisitions.

While the bill does not force funds to sell what they currently own, any new homes they acquire under specific exceptions come with a ticking clock. They generally have seven years to hold that property before they are legally required to sell it to an individual homebuyer or a smaller investor.

If they miss that deadline, the penalties are significant. We are talking one million dollars per home or three times the purchase price. It creates a divest or die scenario for their balance sheets. The Excepted Purchase Loopholes The bill is not a total ban; it is more of a redirection. There are 11 excepted categories where big funds can still play, but they have to actually work for it:

New Construction : They can still build new houses through Build-to-Rent, but they cannot just swoop in and buy existing neighborhood stock.
Renovate-to-Rent (BRRRR) : They can buy homes that do not meet local building codes, but they must spend at least 15% of the purchase price on renovations.
Homeownership Boosting : They get a pass if they offer right of first refusal to their tenants and provide meaningful financial support to help those tenants eventually buy the home.

The 30-Day First Look One of the most practical changes for the average person is the 30-day first-look period. Before an institutional seller can offload a house to another giant fund or hit the open market, they have to give the current renter 30 days to make an offer. This effectively breaks the bulk-sale cycle where hundreds of homes are traded between hedge funds overnight without a single person ever seeing a for sale sign.

Does this REALLY If you are a smaller investor? The ROAD to Housing Act is essentially a no-fly zone for your biggest competitors. By forcing institutional capital toward new construction and heavy-lift renovations, the government is leaving the turn-key and minor-fixer existing inventory for the little guys like us.

A couple things I'd like to point out in relation to this regulation; I have not personally seen much competition in southern Idaho from institutional investors. I'm sure they are out there, but they don't seem to have a stranglehold on our market.

Secondly; and surely you've heard this time and time again. If you want to be successful in this real estate investing game, you MUST have an abundance mindset. If you've been sitting on the sidelines because someone else- Californians, Blackrock or banks are making the game "unfair" and keeping you out, this legislation won't change anything for you. You've got to change your outlook before you can change your future.

Now get out there are make some moves!

Happy Investing!

How To Get a Free House in 2026

Sun, 15 Mar 2026 07:37:49 GMT

You're Familiar with House Hacking, but How Do You Get Started?

How to Get a Free House in 2026

If you’re looking at the 2026 housing market and feeling like you missed the boat, take a breath. You don’t need a massive inheritance or a seven figurel salary to start building a real estate portfolio. You just need to flip the script on how you view your first "home."

Trust me- I get it. It feels like you’ve missed the boat. All of the deals have been sucked up by investors with cash and resources and your grandparents had the opportunity to live that “American Dream” of having a one income home, work/life separation and the whole picket fence thing. Not to say there isn’t some truth to that, but every real estate investor feels like they missed the boat, it’s part of the journey.

I started investing about 25 years ago- Rich Dad, Poor Dad was nearly a decade old and I thought everyone had already bought up all of the good stuff because I was late to that boat too. Boy, was I wrong and I’ve never been so grateful to be so wrong! I learned the most valuable lesson in investing the hard way- the number one thing that will change your life is time in the market. All of the first few deals I bought were on the MLS, “okay” deals, ugly houses on nice-ish blocks. No cash, no wholesalers, no sub to, none of that stuff. Slow and steady for about 12 years and all of the sudden my life changed. And yours can too.

Instead of spending every penny on a single-family house that only costs you money every month, let’s talk about the multi-family house hack. This is the literal blueprint for moving from renter to wealth builder without the typical high-entry barriers. Don’t fall in to the same trap that all of your peers have fallen into- that first home has to be perfect- the nicest house they can afford with all of the lifestyle perks and none of the equity upside. That house owns YOU, not the other way around.

The Low-Down-Payment "Cheat Code"

The biggest hurdle to investing is usually that intimidating 20% or 25% down payment. On a $700,000 fourplex, that’s $175,000 cash. Most people don't have that sitting in a shoebox.

But when you buy a primary residence—even if it’s a duplex, triplex, or fourplex—the lender sees you as a homeowner, not just a "speculator." This opens the door to owner-occupied financing:

FHA Loans: You can get in for as little as 3.5% down .
Conventional Options: There are 5% down programs specifically designed for multi-unit properties.
Lower Interest Rates: You’re getting the "neighborly" rates, usually a full point lower than what a pure investor would pay.
$0 Down Options: There are several ZERO down options for owner/occupants including, but not limited to those amazing VA loans.

By using high leverage, you keep your cash in your pocket for the next deal while controlling a massive, appreciating asset. Sure, your payment will be a little higher, but you can offset that with the income from other units. Besides, you’d be paying rent or a mortgage anyhow, right?

Forced Appreciation: The "Value-Add" Strategy

We aren't looking for the prettiest house on the block; we’re looking for the one with the most "upside." This is the value-add play.

When you find a multi-family property with "good bones" but outdated interiors—maybe some funky 90s flooring or a kitchen that’s seen better days—you’ve found a goldmine. By living in one unit and slowly renovating it while you’re there, you are forcing the value. Heck- you can paint, right? Plant a few nice bushes and mow a lawn?

While the rest of the market waits for natural appreciation, you’re creating your own equity through smart upgrades. Once that unit is dialed in, you move to the next one and repeat. By the time you’re done, you’ve increased the rent potential and the total property value significantly. Now spread that value add over another property every year or two? You are talking serious equity now.

Let Your Neighbors Pay Your Mortgage

Most people see a mortgage as a monthly drain. In a house hack, your mortgage is a wealth-building tool powered by other people.

The Math: You live in Unit 1. Units 2, 3, and 4 are rented out.
The Result: Your tenants’ monthly rent covers your mortgage, taxes, and insurance.

In many cases, you aren't just "living for free"—you’re actually cash-flowing. This is passive income in its truest form. While you’re sleeping or working your day job, your tenants are chipping away at your loan principal. Ten years down the road, you’re sitting on a massive amount of equity that you didn't have to work 40 hours a week to pay for. Passive income, forced appreciation AND natural appreciation can add up to financial freedom quickly.

The 2026 Tax Shield

We can’t talk about financial freedom without talking about the IRS. House hacking is a tax-strategy masterclass. Since a portion of the property is a business, you get to play by the "investor" rules:

Depreciation: You can write off the value of the rental units over time, which often wipes out the taxes you’d owe on that rental income.
Bonus Depreciation: Current tax laws allow for significant front-loaded deductions on "personal property" components like appliances, flooring, and landscaping.
Business Deductions: Part of your utilities, repairs, and even your property management software become deductible business expenses.
Accelerated Depreciation: Depending on your job and investment strategy, you might qualify for accelerated depreciation- that means you might be able to wipe out your income tax from your day job too. For some people, that can be tens or even hundreds of thousands of dollars in your pocket every year.

Lower Risk, Huge Safety Net

There’s a common fear that being a landlord is "risky." But think about the alternative. If you own a single-family home and lose your job, you’re responsible for 100% of that mortgage. If you own a triplex and lose your job, you still have two other checks coming in every month to keep the lights on. It’s a built-in insurance policy for your lifestyle.

Why Experience Matters

Real estate is a team sport. You don't have to figure out the "value-add" math or the 2026 lending landscape on your own. We’ve spent years in the trenches finding the deals, managing the renovations, and navigating the tax codes so you don't have to.

If you’re ready to stop paying someone else’s mortgage and start building your own freedom, you need a partner with the resources and the boots-on-the-ground experience to make it happen. Your friends at Boise TurnKey help novice investors do this stuff every single day. We got you.

Happy Investing!

Unlocking Hidden Cash flow in Rental Properties

Wed, 11 Mar 2026 07:06:08 GMT

If you don't know how accelerated depreciation works, now is the time...

Beyond Rental Income: The Strategy for Unlocking Hidden Cash Flow via Real Estate in Boise

For many Idaho investors, a short-term rental (STR) is more than just a hospitality business—it is a sophisticated financial tool. When structured correctly, an STR property can do something traditional long-term rentals cannot: it can generate significant "paper losses" that offset other income, effectively increasing your immediate cash flow by tens of thousands of dollars.

The secret lies in the intersection of the Short-Term Rental Loophole and Cost Segregation.

Understanding the STR Loophole

In the eyes of the IRS, most rental activity is "passive." This means if your rental loses money on paper (due to expenses or depreciation), you typically cannot use that loss to lower the taxes you owe on your non-rental income.

However, IRS Section 469 provides an exception. If the average guest stay at your property is 7 days or less , the activity is not classified as a "rental" but as a business. If you "materially participate" in that business, your losses become non-passive . This shift allows you to apply those losses against your total income, unlocking sometimes hundreds of thousands of dollars in income that you wouldn't otherwise be able to touch.

Turning Depreciation into Immediate Liquidity

Standard residential properties are depreciated over 27.5 years. While this provides a small annual deduction, it doesn't do much for your current cash flow. This is where Cost Segregation Studies change the game.

A Cost Segregation Study is an analysis that allows you to accelerate the paper losses on your property from 27.5 years in to much, much shorter periods of time. What does that mean to you and I? It means you can unlock nearly three decades of tax benefits on a residential property and consolidate them in to just a couple of years.

Why 2026 is a Landmark Year for Idaho Investors:

Under current tax law, 100% Bonus Depreciation has been restored for qualifying assets placed in service. This means that through a cost segregation study, you can often "front-load" 20% to 30% of your property’s purchase price as a deduction in the very first year.

Idaho’s market—from the high-demand corridors of Boise and Meridian, is uniquely positioned for this strategy. How do you know if you qualify and this strategy is one that will benefit you?

We have built a comprehensive team designed to handle every step of this process:

Strategic Acquisition: Identifying Idaho properties that meet the "7-day stay" profile and possess high-value components for cost segregation.
Specialized Tax Engineering: We connect you with experts who will perform the cost segregation studies required to maximize your deductions.
Compliance & Documentation: Our partners will coach and provide the framework for you to meet material participation requirements, ensuring your tax position is audit-ready.

By merging local real estate expertise with advanced tax strategy, we help Idaho investors stop viewing real estate as just "rent" and start viewing it as a powerful engine for wealth preservation.

To put it simply- if you make over $100K per year and would like to put 25% of your income back in your pocket- we can help. Those properties that "don't Cash flow" can very quickly go from $200 in the red each month to $5K monthly profit. The 100% bonus depreciation benefits are a powerful window for those ready to act.

How to get Started in Real Estate Investing with High Prices and Elevated Interest Rates: Your Guide to House Hacking in 2026

Fri, 26 Dec 2025 16:03:02 GMT

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As mortgage rates stay elevated and home prices haven't receded, many would‑be investors feel stuck on the sidelines. If you’ve been dreaming about buying investment property but worry about cash flow or a large down payment, house hacking could be the perfect solution. House hacking is buying a primary residence with the intention of using it as an investment property at some point in the near future. . With a new year just around the corner, let’s explore why house hacking is such a great goal for 2026 and the different ways you can make it happen.

Why House Hacking Makes Sense Now

Boise Turnkey has helped hundreds of people start their investing journey through House hacking- it's nothing new. As a matter of fact, we firmly believe buying a small multifamily property- a duplex, triples or fourplex, and living in one of the units is, without a doubt, the best way to get started.

House hacking has become increasingly popular because it tackles two major challenges: high housing costs and the difficulty of saving for a separate rental property. Rising mortgage rates and home prices have prompted many buyers to seek creative ways to afford a home. By renting out a portion of your primary residence, you generate income to cover your mortgage while living in a property you own. House hacking helps reduce that burden of a high mortgage payment so you can build wealth and reach financial freedom sooner.

Another advantage is financing: owner‑occupied loans such as conventional, FHA and VA offer much lower down payments than typical investment loans. FHA loans require just 3.5% down for multifamily properties up to four units , and VA loans offer 0% down for eligible veterans. With a conventional loan, you can purchase up to four units with 5% down. However, these programs require that you intend to live in the property for at least 12 months before converting it to a pure rental-perfect for a house hacking plan.

How House Hacking Works

Rental income helps cover mortgage payments, property taxes, insurance and other expenses. There are even tax benefits to this strategy- you can deduct a proportional share of mortgage interest, property taxes, insurance and maintenance costs. You can also depreciate the rental portion over 27.5 years, reducing taxable income even as your property appreciates.

Because you’re occupying the property, you also keep access to homeowner benefits like the mortgage interest deduction. If you decide to sell later, you likely would qualify to waive the capital gains on that property as well. In short, house hacking blends the tax perks of both homeownership and real estate investing.

Five House‑Hacking Strategies for 2026

House hacking isn’t one‑size‑fits‑all. Here are five approaches you can consider, along with some Boise‑specific insights:

1. The Classic Duplex or Triplex

Buy a small multifamily property (two to four units), live in one unit and rent out the rest. Because properties with four or fewer units qualify for residential financing, you get better rates and smaller down payments than commercial loans. This approach also offers built‑in protection against vacancy because multiple income streams help cover the mortgage. In Boise, duplexes and triplexes are in high demand, but we have been able to get excellent deals for many of our clients on these properties all over the valley.

2. Rent a Room (or Three) in a Single‑Family Home

If multifamily properties are scarce, house hacking can be as simple as renting out spare bedrooms in your home. Renting a bedroom or two can cover half or more of your mortgage . You’ll share common areas, but for first‑time investors, this is a low‑cash entry point.

3. Build or Convert an Accessory Dwelling Unit (ADU)

Accessory Dwelling Units—granny flats, in‑law suites or backyard cottages—are increasingly popular, especially since Boise basically rubber stamps approvals for these income producing units. In Boise’s landlord‑friendly market (vacancy rates under 2%,, an ADU can generate steady cash flow and add substantial value to your property.

4. Short‑Term Rental Suite

Converting a basement or spare bedroom to an Airbnb can yield plenty of long‑term rental income and no long term committment. This works well in all over Boise.

5. The Live-In BRRRR.

For the handy investor, buying a fixer‑upper at a discount, living in it during renovations, then keeping it as a rental or selling after two years can yield substantial returns. When you live in a property for at least two out of five years, you can exclude up to $250,000 ($500,000 for couples) of capital gains when you sell. This strategy is a killer way to scale and build capital- you offset your own living expenses while potentially waiving your capital gains along the way as well. Heck, you can combine this strategy with any of the other strategies above and make serious progress over just a few years.

The Long‑Term Payoff

House hacking isn’t just about surviving today’s high‑rate environment; it’s about building long‑term wealth. Boise remains a landlord‑friendly market with vacancy rates below 2%. Over time, your tenants help pay down the mortgage while you benefit from appreciation and principal reduction. Even modest 3% annual appreciation can dramatically increase equity over five years. Meanwhile, tax deductions—mortgage interest, property taxes, depreciation and more—help you keep more of your rental income.

Make House Hacking Your 2026 Resolution

If you’ve been waiting for the “perfect” time to invest in real estate, you'll be on the sidelines for the rest of your life. House hacking offers a low‑cash, lower‑risk way to break into property ownership while still enjoying the comforts of home. It’s a practical strategy whether you’re eyeing a duplex in Boise, renting rooms in Meridian or adding an ADU in Nampa. With the right property and a solid plan, you can cover your housing costs, build equity and set yourself up for long‑term success in Idaho’s landlord‑friendly market.

Ready to explore your options? Boise TurnKey is here to guide you through financing, property selection, tenant management and tax considerations. Let’s make 2026 the year you launch your real‑estate investing journey—one door at a time.

Happy Investing!

New Year, Same Fundamentals for Investing

Sun, 21 Dec 2025 15:11:40 GMT

Just because the market changes, that doesn't mean the fundamentals change too.

As a Boise native who’s worked in Boise property management and real‑estate investing for years, I’ve witnessed the transformation of our city firsthand. Boise isn’t just a dot on the map anymore; it’s one of the fastest‑growing metros in the United States. In this article, I’ll break down what Boise population growth and rent affordability mean for investors and homeowners—and how Boise TurnKey can help you make the most of it.

The Draw of Boise

There’s a reason Boise consistently tops “best places to live” lists. With our mountain views, vibrant, safe downtown, and excellent schools, the secret is officially out. Over the past decade, Boise population growth has accelerated as more professionals, families, and retirees move to Idaho. This influx of new residents and high quality jobs has created a surge in housing demand, pushing rents and home values higher.

For landlords and investors, this real estate cycle isn’t just a blip—it’s a sign of long‑term opportunity. A larger population base means more potential tenants and greater demand for rental housing. That’s why investing in Boise real estate and professional property management has become such an attractive strategy for those seeking steady returns without the stress of day‑to‑day landlord duties.

Rent Affordability and Investor Strategy

You might have heard concerns about Boise rent affordability. As rents rise alongside population growth, some locals worry about being priced out. From an investor’s perspective, it’s essential to balance healthy cash flow with responsible property management. At Boise TurnKey, we believe strong investments shouldn’t come at the expense of community stability.

If you’re considering owning or managing rental property here, keep these factors in mind:

Supply and Demand: There’s still a shortage of quality rental homes in the Treasure Valley. High demand and limited supply help keep vacancy rates low. Our vacancy rates have been under 3% for a decade. That means high quality tenants to stay, pay and don't cause headaches.

Rental ROI: People tend to overcomplicate this piece. Does the property cover all of your bills today? If so, it ony gets better and better with time.

Tenant Retention: Long‑term, reliable residents are the key to sustainable property management. Focus on providing safe, well‑maintained homes and fair lease terms to encourage renewals.

I find that Boise’s strong job market, burgeoning tech scene, and family‑friendly neighborhoods keep attracting high‑quality tenants. And because we provide full‑service property management Boise investors trust, our clients enjoy the benefits of rental income without any of the headaches.

Why Working with Full‑Service Property Managers Makes Sense

Partnering with a professional property management company can simplify your investment journey and maximize returns. Here’s how working with Boise TurnKey benefits you:

Simplicity: You don’t have to worry about finding contractors, screening tenants, or navigating landlord regulations. We handle it all.

Speed: Instead of spending months learning the ropes or dealing with vacancies, you start earning rental income quickly.

Expertise: Our team monitors Boise housing market trends, rental return estimates, and the real estate cycle to help you make informed decisions about your properties.

A well‑managed rental property is like a well‑oiled machine. It generates passive income while you focus on other priorities, whether that’s building your portfolio, growing your career, or simply enjoying Boise’s outdoor lifestyle.

Looking Ahead

The real estate cycle may fluctuate, but Boise’s fundamentals remain strong. As the city continues to expand, rental properties offer a way to harness growth without compromising on quality or community. Whether you’re a local homeowner curious about renting your property or an investor researching “Boise property management” and “real estate investing Boise,” now is an excellent time to explore the opportunities here.

50-Year Mortgages in Idaho: Useful Tool for House Hackers or Generational Debt Trap?

Wed, 19 Nov 2025 18:14:14 GMT

Could a 50 year mortgage be the tool you've been waiting for?

If you’ve been anywhere near the news lately, you’ve seen the buzz about 50-year mortgages.

The idea is simple: stretch your mortgage from 30 years to 50 years so your payment goes down and homeownership feels more “affordable.” The Trump administration is pushing the idea as one possible fix for high prices and rates, but even they’ve admitted it would only reduce payments slightly .

On paper, that sounds like a win. In real life, for most people, a 50-year mortgage looks a lot more like generational debt than generational wealth.

What a 50-year mortgage actually does

A 50-year mortgage is just a normal fixed-rate mortgage stretched over 600 payments instead of 360. You still borrow money, you still pay interest and principal, you just do it for half a century. Analysts who’ve run the math are all saying the same thing: the payment drop is small, but the lifetime cost is huge. UBS found that on a “typical” home, a 50-year mortgage only cuts the monthly payment by about 5%, but you end up paying interest equal to roughly 225% of the home’s price if you keep it for the full term.

In other words, you don’t just buy your house. You also buy a couple more houses… for the bank.

On top of that, you build equity painfully slowly. After 10 years on a 50-year mortgage, you’ve only paid off about 4% of the loan, compared with closer to 16% on a 30-year. So if life happens and you need to sell, refinance, or tap a HELOC, there just isn’t much there for you to work with. And if you know Boise TurnKey and the way we coach our clients to grow and build portfolios, building equity as fast as possible is TRULY what makes all of the difference. Much more difference than a payment that is 5% lower.

The Boise problem it doesn’t solve

Will this make Boise, Meridian, or Nampa housing actually cheaper? No.

A longer loan might help a few buyers qualify for “more house” on paper or make the payment feel a little friendlier each month. But it doesn’t add any homes to the market, lower construction costs, or magically fix our inventory problem. That’s why so many housing experts are calling it a “band-aid” or a distraction from the real issue: we don’t have enough housing supply .

If anything, letting people stretch to 50 years can push prices up over time, because more people can chase the same limited number of homes. So we’re not really fixing affordability; we’re just changing how long we’re in debt. And how long our kids are in debt. And their kids.

Investor edge cases vs real people

Boise TurnKey works with a lot of investors, so I’ll admit there might be a tiny sliver of situations where someone uses a 50-year mortgage as a temporary tool—say, on a value-add project where they have a clear plan to refinance or exit once they’ve increased the property’s income and value.

But that’s not how these loans are being sold in the headlines. It’s being pitched as an “affordability solution” for normal buyers and first-timers. And for them, the trade-off is rough: slightly lower payments today in exchange for much slower equity and way more interest over time. More debt, less freedom.

For the average homebuyer in Boise—or the small investor who just wants a couple of solid rentals—that’s not the lever I want to pull.

Better ways to make real estate work for you

Instead of signing up for 600 months of payments, We’d rather see you use tools that actually move you toward financial freedom:

Buy smart and add value: Older homes with unfinished basements, ADU potential, or cosmetic upside can grow into great investments without exotic loan terms.
House-hack creatively: Rent out a room, a basement, or an ADU so the property helps cover the payment.
Use a normal 30-year mortgage well: You can always make extra principal payments once your cash flow improves and effectively turn a 30-year loan into something much shorter—without locking into a 50-year obligation. National Mortgage News+1

T h ose are the kinds of moves that actually build equity, change lives and create options instead of just stretching the debt out for literally the rest of your life.

Our take—and what to do next

Our whole business is built on this belief: average people can absolutely use real estate to change their family tree. But there’s a difference between smart leverage and forever debt.

If 50-year mortgages eventually show up in Idaho, my honest take is simple: for most people, they’re a bad trade. The small monthly savings just isn’t worth the slower equity, the extra interest, and the risk of carrying a mortgage well into retirement.

If you’re wondering, “Okay, then what should I do?”—that’s the conversation I actually like having. If you want to talk through your goals, your budget, and real options in Boise that build wealth, not just longer debt, let’s grab a coffee. Email us at Info@BoiseTurnKey.com and we will send over a couple of times to chat.

No hype, no pressure—just straight talk about what will actually work for you.

Quick disclaimer: I’m not a CPA, attorney, or financial advisor. This isn’t tax, legal, or investment advice—just perspective from someone who lives and breathes Boise real estate. Please run your specific situation past your own professional advisors before making big decisions.

Happy Investing!

1031 exchanges in Boise: simple, stress-free, and done right

Sat, 25 Oct 2025 13:41:25 GMT

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1031 exchanges in Boise: simple, stress-free, and done right

If you’re a real estate investor interested in Idaho, a 1031 exchange can be the cleanest, least expensive way to level up and scale your portfolio—deferring capital-gains taxes while you trade into better cash flow, newer assets, or a location that fits your goals. Notice I said deferring , not “eliminating.” That distinction matters. Any real estate agent that tells you that an exchange will eliminate your tax burden does not understand the process or strategy. With the right plan, you can defer both capital gains and depreciation recapture again and again, compounding your equity over time. Today is the second-best time to buy real estate—the best time was yesterday—so let’s keep it simple and talk about how we make 1031s easy.

How a 1031 exchange actually works

In a like-kind exchange, you sell your relinquished property and use a qualified intermediary (QI) to hold the proceeds so you don’t take constructive receipt. You then identify up to three replacement properties within 45 days and close within 180 days . The rules are strict, the clock is real, and paperwork must line up with your purchase and sale agreements, title, and escrow—this is where most investors feel the stress. Our job is to remove it. We line up viable Boise-area replacement options early, coordinate with your QI, and keep everyone (title officer, lender, CPA) moving so you never miss a deadline. Never done an exchange before? No problem, we have a full blown team of experienced professionals and can line up all of those connections for you and keep the process simple and, dare we say FUN?

“Eliminate taxes”? Nope— defer them (and why that’s powerful)

Bad advice floats around that 1031 exchanges “erase” your taxes. They don’t. A 1031 defers capital gains and depreciation recapture into the next property. But here’s the opportunity: you can exchange repeatedly , potentially step up over time into larger, better-performing assets, and even pair exchanges with long-term estate strategies your CPA can advise on. No hype—just options and tradeoffs. We’re not your tax advisor or tax professionals, but we’ll collaborate tightly with your CPA so the strategy fits your bigger financial plan and help you achieve your personal financial freedom goals. Isn't that what it's truly all about?

Why work with us for your Boise 1031 exchange

We do dozens of 1031 exchanges every year and have never missed a deadline . Because we specialize in Boise-area investment property , we usually have replacement properties under contract before your sale even closes . Relationships > experienced negotiation: our local network of qualified intermediaries, title officers, lenders, inspectors, and CPAs helps us solve problems fast—inspection timelines, occupancy issues, rent-ready turns, appraisal and escrow coordination. Price is only one lever; we also pull closing windows, occupancy delays, earnest money structure, and contingency strategies to protect your timeline and tax deferral while maximizing your leverage and getting you the best deal possible.

Our simple, stress-free process

Goal + numbers first. We clarify yield targets, depreciation needs, and hold period so the buy box is crystal clear.
Pre-identify inventory. MLS and off-market options that fit 45-day ID rules; we prep contracts and disclosures early.
Tight vendor choreography. We coordinate QI instructions, title/escrow language, and lender milestones so funds move cleanly.
Inspection + negotiation with purpose. We focus on material items and credits that keep the exchange on track—no deal-killing drama.
Close and handoff. Property management, rent-ready turns, and post-close checklists so your new asset performs on day one.

Ready to make your Boise 1031 exchange truly turnkey? No one has ever waited their way to financial freedom, so let's make some magic happen for you! Let’s talk about your goals, map your timeline, and line up replacement properties before you list. Low-pressure coffee chat to start—tell us where you’re headed, and we’ll show you clear options to get there.

Happy Investing!

Is It a Good Time to Buy an Investment Property?

Fri, 25 Jul 2025 18:01:58 GMT

Knowing when to take action is half of the battle...

Is it time to “time the market?”

It’s funny- I’ve been investing in real estate for 25 years now. As I get older and do more deals, it’s really true; the more things change, the more they stay the same.

Time after time, new and experienced investors alike ask the exact same question: “It this a good time to buy?”

I’ve personally bought properties consistently for over two decades. During times when values were going down, going up and everything in between. Every single one of those purchases came with either equity, cash flow or a little bit of both. So how do you decide when to take the leap? There’s a simple and easy answer to that question, I’ll give you my two cents in my summary below- no skipping ahead!!

In real estate, the age-old adage holds true: it’s time in the market , not timing the market , that builds lasting wealth and opportunity. Many prospective buyers and investors sit on the sidelines waiting for home prices to dip or mortgage rates to fall—but in doing so, they often miss out on the good stuff happening right now. Here’s why taking decisive action today can set you up for long-term success, especially in our Boise-area market where inventory has ticked up, opening doors to strategic negotiations.

1. The Myth of “Perfect Timing”

Rates and prices will always fluctuate. Chasing the lowest possible interest rate or home price can easily become a game of whack-a-mole—just when you think you’ve spotted the bottom, rates could spike or prices could rebound.
Psychology of the sidelines. Waiting breeds indecision. The longer you watch from the bleachers, the more opportunities pass you by—whether it’s low-competition showings, motivated sellers, or creative financing options.

2. Why “Time in the Market” Wins

Compound appreciation. Historically, real estate values tend to rise over time. Every month you own a property, you’re accumulating equity—through both principal pay-down and market appreciation.
Rental income potential. If you’re investing, getting a property rented puts cash flow in your pocket immediately. Even modest monthly rents can add up, turning an acquisition into a self-sustaining asset. Especially in a market like Idaho- housing is in demand and rents tend to increase over time and rent controls are illegal in Idaho, so you can raise rents as the market allows without any government intervention.
Leverage and tax advantages. Mortgage interest deductions, depreciation, and other tax benefits kick in as soon as you own. The sooner you act, the sooner you start optimizing your financial position.

3. Why Now Is an Especially Good Time in Boise

Inventory is on the rise. Compared to the frenzy of recent years, more homes are on the market across Meridian, Eagle, Nampa, and Boise proper. That means more choices—and less bidding-war pressure.
Negotiation power. With options in hand, buyers can ask for price reductions, seller-paid closing costs, or allowance credits to cover interest-rate buydowns, renovations, or repairs. Sellers who face longer days on market are increasingly willing to accommodate buyer requests.
Creative financing opportunities. In an environment of higher rates, you can structure seller-credited buydowns—where the seller contributes toward your rate reduction—or roll repair allowances into your loan, minimizing out-of-pocket at closing.

4. How to Take Action Today

Get pre-approved early. Understanding your borrowing power and locking in an initial rate quote puts you in a confident position when making offers.
Work with a local market expert. A real estate partner who knows Boise-area neighborhoods can pinpoint underpriced gems and leverage current inventory trends.
Build negotiation leverage. Ask for seller concessions tailored to your goals—whether that’s buying down your rate, funding a kitchen refresh, or covering inspection-related repairs.
Plan for the long term. Focus on properties that meet your criteria for appreciation, rental demand, or personal lifestyle—then hold, rent, or refinance when it makes sense.

5. Real-World Example

Imagine a four-bedroom home in Meridian listed for $400K. With more homes on the market, you negotiate a $10,000 price reduction plus a 2-month rate buydown credit. That immediately lowers your loan balance and your monthly mortgage payment—while you begin building equity from day one. In a year or two, you could refinance to even better terms once rates stabilize, unlocking additional savings.

6. Don’t Let “Perfect” Become “Too Late”

Every day you wait is equity you’re not earning, rent you’re not collecting, and tax benefits you’re not leveraging. The market will never be flawless—but decisive action in the right neighborhood today often outperforms waiting for an elusive “ideal” moment tomorrow.

In summary, when is the best time to buy an investment property? It’s when you have the means to do so. That’s it, Nothing more complicated than that. Buy a property that pays for itself today and the rewards will get sweeter and sweeter over time. If you wonder if that’s actually true- reach out to any of our staff (or clients) and we will give you real numbers on actual deals we’ve done on properties that we currently manage.

In the meantime, enjoy the summer and happy investing!

How We Made a Client a Quick and Easy $200K!

Wed, 11 Jun 2025 18:21:14 GMT

Investing in Real Estate in Boise

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How to Time Your Purchase of a New Investment Property

Fri, 11 Apr 2025 12:09:47 GMT

Most New Investors Agonize Over Timing a Purchase....Should They??

When is the RIGHT time to buy an investment property?

Perhaps you've heard the old proverb regarding when is the best time to plant a tree?

A tree is an investment of sorts. You buy a sapling. You dig a hole. You fertilize. You water. You trim. You rake leaves. And after a couple years, that tree simple grows and takes care of itself. Several years later, you have a healthy harvest of apples. You haven't thought about that tree for a few years other than occasionally enjoying the shade it provides, but suddenly, that tree is literally producing the fruits of your labor from eight years ago.

Think of an investment in that same way. The work, stress and effort come up front- in the first few years. You buy a property and it's stressful, maybe scary. You work to stabilize it, rehab, clean it up and prepare it for tenants. You show the property to prospective tenants, screen them, perform your move in inspection and help the tenants get settled. Then you wait.

We have many investors come to us asking about timing- did they miss their opportunity? Is there a neighborhood that is undiscovered yet? Do we know about a secret, off market deal that will change their lives? The answer to all of those questions is a resounding "no," (except sometimes the off market deals....)

In 2015, people didn't want to invest because they felt real estate in Boise was overpriced. Coming out of the recession, our market was in recovery mode and many thought we'd return to those 2012, bottom of the market prices soon. The average SFH price in 2015 was $230K in Ada County.

In 2020 when the covid boom came around, people didn't want to "overpay" for a property or get caught up in a bidding war. Interest rates were 3% and the average SFH in Ada County was around $390K.

In 2023 interest rates shot up and buyers got scared. The didn't want to buy when values were presumably going to tank. The average purchase price in Ada County was $520K.

Today, many still are waiting for that market crash, or for interest rates to get back down under 5%. In June of 2024, the average SFH price in Ada County was $570K.

The people waiting for that opportunity back in 2015 are still waiting and they missed out on an average of $340K in passive appreciation. As a matter of fact, prices are UP 10% just since January of this year. Think about that. Had you purchased 3 average homes in 2015 and rented them out, you'd literally be a millionaire now with little to no effort on your part.

So- when is the best time to plant that tree? Well, of course the correct answer is eight years ago, all of the work and stress would be over by now, and you'd be enjoying those apples. But if you didn't plant a tree eight years ago, the second best time to do that would be today.

Happy Investing!

What is "Churn" and why Investors should pay attention to it....

taylor@boiseturnkey.com (Taylor Witmer) — Tue, 08 Apr 2025 18:09:54 GMT

Churn might be the best metric to monitor unnessary vacancy costs.

Churn, in property management, refers to the owner/client turnover rate, indicating how many clients choose to leave a property management company in a given period. It is an important metric for assessing client satisfaction and retention, resident satisfaction and future growth strategies and business planning. But, I have a confession to make; Boise TurnKey has never formally tracked this number! Before anyone calls the property management police, allow me to explain.

Truth be told, I had never heard the term “churn” used in property management up until I attended a national conference a few years back. I was casually mixing and mingling with a group of other managers from around the country when the topic of “key metrics” came up, and someone dropped the term and their percentage into the conversation. They spoke with such authority around it, and were reporting their numbers with pride. I felt like such a dummy needing to pump the breaks and ask for clarification. Of course, when a group of leaders in the field have to stop and accommodate your basic question, it’s accompanied with a lot of “bless your heart” and sideways glances as if you had broccoli growing from your ears. But that wasn’t the worst of the night!

As they explained how to calculate churn carefully to me, and fortified the discussion around how great their numbers were- I was able to easily share our company’s percentage. That’s when things got exceptionally awkward. Again, flashing my newbie credentials, I promptly said, “we’re at 0%.” After a few more nudges for clarification, “real numbers,” and eye rolls, I was able to confidently fire back this accuracy. That year in our business, we had experienced ZERO percent churn- good, bad, or neutral. I suppose I didn’t make any new friends that night.

Fast forward to 2025. We are keeping an eye on our churn, but it doesn’t demand much of our attention. Once per year (typically right around tax prep time, as we’re reviewing all financials to report to anyone we worked with the prior year), we pull all hard copy files, 1099s, and year-end reports. This year, I have a stack of 26 files on my desk that represent properties we no longer represent. Last year, in total, we managed 309 units. This means the raw churn rate that Boise TurnKey saw was 8%. National averages tend to trend around 25% for property management, so in relative terms- this number is one-third less than average. We’ve got a pretty rad rate! That said, this doesn’t REALLY tell the entire story. Of the 26 properties lost, 5 of them were considered “bad” churn, 8 were considered “neutral,” and 13 were considered “good” churn.

Good churn means that the client sold the property using our team to represent them. In these cases, we can work with residents to make the process less stressful, and usually relocate them to a new property. It’s a win-win for everyone, given the circumstances. Also, good churn means that we initiated ending the relationship with the client- we do this either for poor maintenance (not wanting to care for a property up to our standards), poor behavior (in one case, it was using the neighbors to bully the residents), or perhaps not following our contract guidelines. Our “good churn” rate was 4.2%!

Neutral churn could be a situation where the owner moved back into a property, sold the home using another agency, or was foreclosed on. This was 2.6%. Bad churn refers to a client letting us go. We had 5 properties out of 306 for 2024 that were considered bad churn, meaning only 1.6%. If 25% is truly the national average, we’re pretty darn excited to report these statistics…and maybe we will keep a closer eye on that metric for funsies!

Question: So what should we do with this information? It seems like we’re on a good path regarding churn, but our work is never done. How do we use the data to continuously improve our services and learn from these experiences?

Answer: For one, we’ve developed a screening process when vetting new clients. In order to ensure we’re both a good fit for each other’s management style and needs, we use a rubric to help us sort out the folks that may not want to properly care for their properties, or those that have an unhealthy attachment to the neighbors/etc. Two, we have embarked on a survey journey- be prepared to receive a handful of requests for feedback this year, everyone! From residents, clients, and vendors, we want to hear honest answers about our services in real time. We aim to keep satisfaction high, and are examining our survey results and comments weekly to ensure we’re keeping up with or exceeding folks’ expectations.

Three, this may seem obvious, but we’re reacting quickly to feedback we receive. If we received a less-than-average score on a maintenance survey, we’re diving into the issue to determine if something about our policy, communication, or procedure broke down. Was it a vendor that was rude to a tenant, or inflexible about a solution or scheduling? We seek to fix issues as quickly as possible, in order to prevent future disappointment.

I wish I could go back in time and remember the numbers that those conference folks were sharing with me! I imagine, now that I’ve cut my teeth by loosely monitoring churn, I could at least participate in the conversation without too much scoffing. I’m not sure I would be making many friends, still, but we’re resting our heads easy every night knowing that our very low churn rate indicates satisfaction and stability overall!

Spring Golf In Boise

Thu, 03 Apr 2025 19:46:07 GMT

Spring time in Boise is the BEST time! Of course, the best way to spend spring afternoons is on the course...

Springtime in the Treasure Valley is pure magic—easily my favorite time of year. The days are warming up, but the summer heat hasn’t set in yet, making it the perfect weather for a round of golf. Everything is in bloom, from the trees lining the fairways to the vibrant flowers dotting the courses, creating a stunning backdrop for a day on the greens. There’s no better way to shake off winter than getting outside, soaking up the fresh air, and maybe even cracking open a cold beer (or two) with friends. Whether you're perfecting your swing or just along for the good vibes, spring golf in Boise is hard to beat. If you’re looking for great places to tee off this season, these are my top picks for golf courses in the Boise area.

Centennial Golf Course (Nampa)

Centennial is a great value for golfers looking for a fun, well-maintained course without breaking the bank. The fairways are wide, and the layout is forgiving, making it an excellent spot for players of all skill levels. With scenic views and a relaxed atmosphere, it’s a go-to course for a casual weekend round.

Warm Springs Golf Course (Boise)

This classic Boise course sits along the river and offers a beautiful setting with mature trees and great course conditions. The flat layout makes it a nice walkable course, and the wide fairways are welcoming for players of all levels. Plus, its location near downtown makes it easy to grab a post-round drink or meal.

Indian Lakes Golf Club (Boise)

A hidden gem in Boise, Indian Lakes is a shorter course but still provides a fun challenge with its tree-lined fairways and smaller greens. The relaxed vibe and affordable rates make it a favorite for a quick round after work or a laid-back weekend outing.

Boise Ranch Golf Course (Boise)

If you love a course with plenty of water hazards to keep things interesting, Boise Ranch is for you. This 18-hole championship course features seven ponds that come into play on several holes, making accuracy off the tee key. It’s a great mix of challenging and fun, perfect for those looking to improve their game while enjoying the outdoors.

Eagle Hills Golf Course (Eagle)

Eagle Hills offers a more traditional golf experience with tree-lined fairways, rolling terrain, and well-kept greens. The course has a great mix of hole layouts, keeping things interesting from start to finish. The clubhouse and patio also make for a great spot to relax after your round.

Get Out and Golf This Spring!

With so many great options in the Boise area, there’s no excuse not to hit the links this spring. Whether you're looking for a challenging course, a relaxed round with friends, or just an excuse to enjoy the sunshine, these courses offer something for every golfer. Grab your clubs, call up your golf buddies, and make the most of the season!

Do you really NEED a filthy real estate agent?

Tue, 01 Apr 2025 18:39:19 GMT

Especially for investors- agents can be a valuable partner

It’s March and we are seeing more and more sunny, tolerable days here in southern Idaho, which is about the best we can hope for until Mid June! As many of you know, once the sun starts making regular appearances, people start thinking of barbecues and bike rides and along with that comes dreams of a new home- a new patio or deck, a place that’s close to that park you like or in that neighborhood with the really great bakery. Renters and buyers come out of the woodwork and things start getting really busy for property managers and real estate agents.

If you are reading this, there’s a good chance that you are either interested in investing or have been investing in real estate. There’s an ongoing debate- what role does a real estate agent play in a transaction, especially for a buyer with some experience. Well, ironically, the more experienced people we work with don’t even consider buying without an agent, it’s mostly the novice investors who think about the fact that they could put that commission in their own pocket or reduce their debt and get closer to a cash flow number that works well for them.

Understandable, absolutely, but buying a property and writing a contract that a seller will sign, but still creates leverage and protections for the buyer is more of an art than a science. True, anyone can just fill in the blanks on a contract, but how you fill in those blanks based on the information you can extract from a seller makes all of the difference in the world.

Here are a few examples of ways that our team has worked magic for our clients the recent past:

Superstar agent Joey Banasihan had a contract last year for an investment property with a brand new client to us, who also happened to be a novice investor. The offer he wrote worked great for our buyer, but just as important, he developed a relationship with the seller and knew what they wanted to see in a contract too- so he was able to appeal to their needs while still protecting and building leverage for our client. During the transaction, he was able to use the hidden leverage he built in to the contract to get an additional $50K off of the purchase price for our client. That was nearly 10% of the purchase price overall, creating better cash flow, a lower down payment and a solidly performing asset for our client.

Tracy Ross, Boise Turnkey’s secret weapon, was able to perform a similar feat just recently. She’s working with a client who plans to house hack a short term rental. Basically live there for a while, fix the place up and leave it in a year or so as an AirBnb that will give them additional tax benefits and killer cash flow. The property is also on a lot that can either be split or allow the main home to be permitted as a duplex, so there are other options for these clients to force equity and better cash flow in the future. The offer she wrote had built in protections for these clients as well- she used her smarts and stellar negotiation skills to get them a $10K closing credit AND a $25K discount after the seller had accepted their original offer. That’s another $35K in our client’s pockets that they likely would have lost had they not hired a knowledgeable pro to guide them.

There’s one other misconception; real estate agents only do deals that are on the MLS. I guarantee you- our team sees every off market deal in SW Idaho, and we bring plenty of those deals to our clients. Our job is to help investors reach their goals and we do that in any way we can. As investors and agents ourselves, we are well networked with other agents and investors and those relationships bring us off market deals regularly. The ironic thing is that there are almost always better deals on the MLS if you know what you are looking for, but if an off market deal that we find works for you, we are going to help you get it closed.

Does every deal go like that? Unfortunately, no, but over time and hundreds of transactions, we’ve developed processes and tactics that help our clients get more offers accepted, many times beating out higher offers and cash offers, and still having leverage and protections built in that many sellers and listing agents don’t see or anticipate. We are an open book and love talking real estate and strategy. So- if you want to know our secrets, we are happy to share, just reach out and book a call or meeting with us and we’ll spill the beans and give you all of the tools you need to make your own magic happen.

Happy Investing!

5 Best Things to do in Boise during the Spring

Wed, 10 Apr 2024 18:34:53 GMT

Springtime in Boise, Idaho, brings a burst of life and color after the winter chill. With its mild temperatures and beautiful landscapes, there are plenty of activities to enjoy during this vibrant season.

Here are the five best things to do in Boise, Idaho, during the spring:

Explore the Boise River Greenbelt : Stretching for 25 miles along the Boise River, the Greenbelt offers a scenic pathway for walking, jogging, biking, or simply enjoying nature. In the spring, the Greenbelt comes alive with blooming wildflowers and lush greenery. Take a leisurely stroll or rent a bike to explore this picturesque urban trail, which passes through parks, wildlife habitats, and charming neighborhoods.
Visit the Idaho Botanical Garden : Spring is the perfect time to visit the Idaho Botanical Garden, where you can marvel at a dazzling display of flowers, trees, and plants in bloom. Explore themed gardens, including the English Garden, Meditation Garden, and Water Garden, and take in the beauty of seasonal blooms such as tulips, daffodils, and cherry blossoms. The garden also hosts special events, workshops, and guided tours throughout the spring season.
Attend the Treefort Music Fest : Held annually in downtown Boise, the Treefort Music Fest is a multi-day celebration of music, art, and culture that takes place in late March or early April. Featuring a diverse lineup of local and national artists across various genres, as well as film screenings, art installations, and interactive activities, Treefort offers an immersive experience for music lovers of all ages. Explore the festival grounds, discover new bands, and soak up the vibrant atmosphere of Boise's burgeoning arts scene.
Go Hiking in the Foothills : With the arrival of spring, the Boise Foothills come alive with vibrant wildflowers and verdant foliage, making it an ideal time for hiking and outdoor adventures. Lace up your hiking boots and explore a network of trails that wind through the rugged terrain, offering stunning views of the city, the Boise River, and the surrounding mountains. Whether you're a seasoned hiker or a novice adventurer, there are trails of varying difficulty levels to suit every skill level and interest.
Experience Boise's Local Food Scene : Spring is a delightful time to indulge in Boise's burgeoning culinary scene, with an abundance of fresh, locally sourced ingredients and outdoor dining options. Explore farmers' markets such as the Capital City Public Market or the Boise Farmers Market, where you can sample artisanal cheeses, freshly baked bread, organic produce, and other gourmet delights. Treat yourself to a meal at one of Boise's acclaimed restaurants, cafes, or food trucks, and savor the flavors of springtime in the Gem State.

From outdoor adventures to cultural experiences and culinary delights, Boise, Idaho, offers endless opportunities to embrace the beauty and vitality of spring. Whether you're exploring the great outdoors, attending a music festival, or savoring farm-fresh cuisine, there's something for everyone to enjoy in the City of Trees during this enchanting season.

What to do on a day trip to Boise

Wed, 10 Apr 2024 16:38:20 GMT

Itching to get away? Ready for an pre-summer, much needed vacation?

We have a solution: go on a day-trip staycation to feel like a tourist in your hometown.

Many of our clients, friends, and neighbors have recently moved to the great city of Boise, Idaho. However, when we move cross country (and during a pandemic!) it's easy to miss some of Boise's best spots.

Here's how we would plan the day, if we were you.

For our early risers, start by driving up Bogus Basin Road to watch the sun rise over the foothills. There's plenty of spots to pull off and see the stunning view of the city and the mountains, in every season. On your way back down, stop at Hawkins Pac-Out for the best breakfast burrito in Boise, and continue driving straight at Bogus Basin Road turns into Harrison Boulevard, Boise's most iconic street.
For those who sunrise sounds terrible, start by visiting Hyde Park. Hit up Certified Bakery , get your best breakfast sandwich in Boise to-go, and eat it sit on a bench along 13th street or walk down to Camel's Back Park for a picnic brunch. Then, join your sunrise friends and drive down Harrison Boulevard and head downtown.
For the afternoon, go to the Boise Art Museum . It's really cheap, and they have a beautiful permanent collection and always have an amazing traveling installation as well.
From there, you have two choices. If your feet are hurting, catch a film at the iconic movie theater, the Flicks . They show foreign and Indie films primarily, and it's a great place to have a unique experience. If you're up for more activity, you're right by the Greenbelt. Stroll through Julia Davis Park, walk along the river, and have a seat and enjoy the relaxing sound of the river rushing past.
Ready for lunch or an afternoon coffee? Hit up the Warehouse for a wide variety of food, from tacos and burritos, to BBQ, to pizza, to grilled cheese, to smoothie bowls, to waffles, and more! There's also a cocktail bar in the center, because it's 5 o'clock somewhere! For coffee, you've got to check out Slow by Slow on 8th Street. They have sustainably roasted brews, delicious lattes, the best tea you'll find in the city. They have a very limited food selection however, so don't plan on eating there.
From there, stroll down Freak Alley Gallery, admire the work of local muralists and artists, and then stop for a cider at Meriwether for a huge selection of locally made ciders & enjoy their cute patio seating.
For dinner, there's a HUGE variety of local places to choose from. We'd recommend the following- check out their menus and see what sounds best. However, these places also don't accept reservations, so it's a first come, first served situation. The Wylder (locally owned, same owners as Certified Bakery), Yoi Tomo (really good sushi with a killer all-you-can-eat situation), or Bittercreek Alehouse (come for the brews, stay for the reuben and the beignets.)
Still have energy for a bit of night life? Stop in at a speakeasy , a brewery with outdoor games , or a cocktail lounge.

We hope you had a great day making your way through Boise! We'll catch you next time, and hope you come back.

(If this convinced you to move here, and you'd like to do some real estate investing, give us a call at the number below!)

Five Things you HAVE to know about Credit Scores and Real Estate Investing

Wed, 10 Apr 2024 16:10:13 GMT

Are you considering dipping your toes into the world of real estate investing? Whether you're eyeing residential properties for rental income or looking to flip houses for profit, understanding the role of credit scores is paramount.

At Boise Turnkey, we believe that arming yourself with knowledge about credit scores can be a game-changer in your real estate investment journey. So, let's dive in and explore everything you need to know about credit scores in real estate investing.

1. What is a Credit Score?

Your credit score is a three-digit number that represents your creditworthiness. It's calculated based on your credit history and various financial behaviors, such as paying bills on time, managing debt, and the types of credit accounts you have. In the realm of real estate investing, your credit score plays a crucial role in determining your ability to secure financing for investment properties.

2. Importance of Credit Scores in Real Estate Investing

A strong credit score opens doors to favorable financing options in the real estate market. Lenders use your credit score to assess the risk of lending you money for purchasing investment properties. A higher credit score often translates to lower interest rates, which can significantly impact your cash flow and overall profitability as an investor. Additionally, a good credit score may increase your chances of being approved for loans with more favorable terms and conditions.

3. How Credit Scores Affect Financing Options

When it comes to real estate investing, there are various financing options available, including conventional loans, FHA loans, VA loans, and hard money loans, among others. The type of financing you qualify for and the terms offered can be influenced by your credit score. For instance, conventional lenders typically prefer borrowers with higher credit scores, while FHA loans may be more accessible to individuals with lower credit scores. Understanding the requirements and implications of different financing options based on your credit score is essential for making informed decisions as a real estate investor.

4. Improving Your Credit Score

If your credit score isn't where you'd like it to be, don't despair. There are steps you can take to improve it over time:

Pay your bills on time: Timely payments are one of the most significant factors influencing your credit score.
Keep credit card balances low : Aim to utilize only a small portion of your available credit to demonstrate responsible credit management.
Monitor your credit report : Regularly review your credit report for errors or discrepancies that could negatively impact your score.
Avoid opening new credit accounts unnecessarily : Each new credit inquiry can temporarily lower your credit score.

5. Partnering with Professionals

Navigating the intricacies of credit scores and real estate investing can be daunting, especially for beginners. That's where partnering with experienced professionals can make all the difference. At Boise Turnkey, our team of experts is here to guide you through every step of your real estate investment journey. From identifying lucrative investment opportunities to securing financing and maximizing returns, we're dedicated to helping you achieve your investment goals.

In conclusion, understanding the nuances of credit scores is essential for success in real estate investing. By maintaining a healthy credit score, exploring various financing options, and partnering with knowledgeable professionals, you can position yourself for long-term success in the dynamic world of real estate investment.

At Boise Turnkey, we're committed to empowering investors with the knowledge and resources they need to thrive. Get in touch with us today to take the next step towards building your real estate investment portfolio.

11 Tips for Finishing Your Unfinished Basement

Wed, 10 Apr 2024 16:04:19 GMT

Finishing an unfinished basement can significantly increase the usable space in your home and add value to your property!

Here's a step-by-step guide on how to finish an unfinished basement:

Plan and Design : Determine how you want to use the space. Common options include adding bedrooms, bathrooms, a home office, a family room, or a recreation area. Consider the layout, lighting, electrical outlets, plumbing needs, and any structural modifications required.
Check Building Codes and Permits : Before you start any work, check with your local building department to understand the regulations and obtain necessary permits for finishing your basement.
Waterproofing and Moisture Control : Address any moisture issues in the basement before you start finishing. Install a sump pump if needed, and consider waterproofing walls and floors to prevent water damage.
Insulation : Insulate the walls and ceiling to regulate temperature and improve energy efficiency. Common options include fiberglass batts, foam board insulation, or spray foam insulation.
Electrical and Plumbing : Plan and install wiring for outlets, lighting, and any other electrical needs. If you're adding a bathroom or kitchenette, consider plumbing requirements and hire a professional if necessary.
Frame Walls and Ceiling : Use treated lumber to frame the walls and ceiling according to your design plan. Ensure proper spacing for electrical wiring and plumbing. Leave access points for utilities and consider fire safety when framing.
Drywall Installation : Install drywall on the framed walls and ceiling. Tape and mud the seams, and sand them smooth for a finished look. You may want to consider hiring a professional for this step if you're not experienced with drywall work.
Flooring : Choose flooring that suits your needs and budget. Options include carpet, hardwood, laminate, vinyl, or tile. Ensure the basement floor is level and install a moisture barrier if necessary.
Painting and Finishing Touches : Paint the walls and ceiling with moisture-resistant paint. Add trim, baseboards, and other finishing touches to complete the look of your basement.
Install Fixtures and Furnishings : Install light fixtures, switches, outlets, and any other electrical fixtures. Add plumbing fixtures if you're including a bathroom or kitchenette. Furnish the space with furniture, rugs, and decorations to make it functional and inviting.
Final Inspection : Once the finishing work is complete, schedule a final inspection with your local building department to ensure that everything meets code requirements.
BONUS: Enjoy Your Finished Basement : Once you've received approval from the building inspector, you can start enjoying your newly finished basement space!

Remember that finishing a basement is a significant project that may require professional help for certain aspects, especially if you're not experienced in construction or home improvement. Always prioritize safety and follow building codes and regulations to ensure a successful outcome.

Also, remember every situation is different! Sometimes, a professional is necessary to the process, at least to guide and give pointers. We'd love to give you advice and point you towards some of our trusted contractors who will help you as you rehab your house!

Ready to talk with someone at Boise Turnkey? Call us at 208-900-9660 and we'll be in touch!

Scaling Your Real Estate Portfolio: From 1 Rental Property to 10 with the BRRRR Method

Wed, 06 Dec 2023 23:05:44 GMT

Are you a savvy real estate investor looking to level up your game and rapidly grow your rental property portfolio? If so, the BRRRR method might just be the key to unlocking your next level of success. BRRRR, which stands for Buy, Rehab, Rent, Refinance, and Repeat, is a powerful strategy that allows investors to recycle their capital and build a substantial real estate empire. In this blog post, we'll explore how you can use the BRRRR method to go from owning one rental property to an impressive portfolio of 10.

Understanding the BRRRR Method

1. Buy Wisely:

The first step in the BRRRR method is to identify and purchase properties below market value. This may involve seeking distressed properties, foreclosures, or off-market deals. A thorough understanding of the local market and emerging trends will help you spot hidden gems that have the potential for substantial returns.

2. Rehab Strategically:

Once you've acquired a property, the next step is to renovate it strategically. Focus on improvements that add value and appeal to potential renters. Keep a close eye on the budget to ensure your renovation costs align with the property's future appraised value.

3. Rent for Maximum Returns:

After rehabilitating the property, it's time to find reliable tenants. A well-maintained and attractive property will not only attract quality renters but also enable you to maximize rental income. Screen tenants thoroughly to ensure a steady and reliable cash flow.

4. Refinance for Increased Leverage:

The magic of the BRRRR method lies in refinancing the property after it has been rehabbed and rented. As the property's value increases, you can refinance it to recover a significant portion of your initial investment. This allows you to recycle your capital and use it to fund the acquisition of additional properties.

5. Repeat the Process:

With the funds recovered through refinancing, you can repeat the process by identifying and acquiring new properties. As you continue to leverage your capital, your portfolio will grow exponentially, and you'll be on your way to owning 10 rental properties or more.

Tips for Success:

1.Build a Strong Network:

Cultivate relationships with real estate professionals, contractors, and property managers. A reliable network can provide valuable insights, opportunities, and support throughout the BRRRR process.

2. Stay Informed:

Keep yourself updated on market trends, financing options, and local regulations. Being well-informed will help you make educated decisions and navigate potential challenges effectively.

3. Diversify Your Portfolio:

Consider diversifying your portfolio by exploring different types of properties, neighborhoods, or even branching into commercial real estate. Diversification can enhance the stability and resilience of your investment portfolio.

In conclusion, the BRRRR method is a dynamic strategy that empowers real estate investors to rapidly scale their portfolios. By buying wisely, rehabbing strategically, renting for maximum returns, refinancing for increased leverage, and repeating the process, you can transform your one-property investment into a robust portfolio of 10 or more. Remember to stay diligent, adaptable, and well-informed to make the most of this powerful investment strategy. Happy investing!

Top 10 Things to Do for the Holidays in Boise, Idaho

Fri, 10 Nov 2023 17:15:00 GMT

The Treasure Valley goes all out for Christmas. From ice skating, to decorations, to simply enjoying the snow and the cozy time together with our families, we at Boise Turnkey wait all year long for the joy that the holiday season brings in Boise. For this month's blog, here's our top 10 best things to do to celebrate the holidays in Boise! Whether you're new to Boise, thinking about moving to the valley, or are just looking for something new to do this year, this blog is for you!

Kick off your holidays during Thanksgiving week (November 21-27) with St. Alphonsus' Festival of Trees . Wander around rows of themed trees, make crafts, listen to local music artists, and even meet Santa!
Go ice skating at Indian Creek Plaza in Caldwell , and then walk through miles of lights! Ice skate through the ribbon under festive decorations, grab some cocoa and walk along the creek under miles of lights.
Walk through 45 miles of holiday lights at Scentsy Commons in Meridian. This massive display begins November 10 and runs through the new year. Plus, it's free!
Another Boise favorite spot for lights is the Winter Garden Aglow at the Botanical Gardens! Walk through the garden's Winter Wonderland between November 26-December 31, enjoy intimate moments by the fire, and sip on tasty drinks as you wander through the display.
Haven't had enough lights? We've got one more for you: Christmas in Color at Expo Idaho. This one has been a classic the last few years–and you can stay warm while you do it. Drive through millions of lights synced with your favorite holiday tunes, December 17th-January 2nd.
Want to burn off a few calories before you feast? Try out the Turkey Day 5k or the YMCA Christmas Run , both in beautifully decorated Downtown Boise! Dress in your festive gear to walk with your family, or show up ready to win.
Go see the Nutcracker at Ballet Idaho! This is a family friendly classic, running December 15-24. There's no better way to usher in the holidays then spending an evening humming along to beautiful music and watching the dancers tell a classic Christmas tale.
Want a bit more adventure? Go tubing at Gateway Parks. Slide down three different speedy runs on sturdy tubes, or bring your snowboard and create your own adventure, starting November 25th. But buy your tickets ahead of time–they sell out quick!
Want to buy beautiful, locally made gifts for your loved ones this year? Shop the Wintry Market, and wander through "Idaho's premier curated winter maker's market." Find the perfect gift here, knowing you are supporting your local artists, all the while shopping intentionally for those you love! This year, it takes place November 17-18 at the Grove.
And, BRAND NEW THIS YEAR , a new ice skating rink will be opening in the Grove plaza, opening the day after Thanksgiving and the tree lighting . Skate around the classic Grove Plaza tree with your lover or your kids for an unforgettable Christmas experience. This is also a great option for those already in Boise who don't want to drive to Caldwell to skate.

Now it's your turn: What do you love to do at Christmas?

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9 Steps for Preparing Your Finances for Real Estate Investing Success

Fri, 06 Oct 2023 06:00:00 GMT

Investing in real estate can be a lucrative endeavor, but it's not something you should dive into blind, without proper financial preparation. Just like any other investment, real estate requires careful planning and a solid financial foundation to ensure long-term success. At BoiseTurnkey, we're determined to help you invest no matter where you're at! Here's a place to start, so you can confidently step into the world of real estate investment:

Assess Your Current Financial Situation

Before you embark on your real estate investment journey, it's crucial to have a clear, realistic understanding of your current financial situation. Start by taking a close look at your income, expenses, debts, and assets. Create a detailed budget to gain insight into your monthly cash flow. This will help you determine how much money you can comfortably allocate to real estate investments without jeopardizing your current financial stability.

Set Clear Financial Goals

What do you hope to achieve with your real estate investments? Are you looking for passive income, long-term capital appreciation, or a combination of both? Setting clear financial goals is essential to guide your investment decisions. Knowing your objectives will help you choose the right real estate opportunities and create strategies to achieve them.

Build an Emergency Fund

Real estate investments can come with unexpected expenses, such as repairs or vacancies. It's essential to build an emergency fund now to cover these unforeseen costs, without compromising your investment or your personal finances. Aim to save at least three to six months of living expenses in your emergency fund.

Reduce High-Interest Debt

High-interest debt, such as credit card balances, can be a significant barrier to real estate investment success. Before you start investing, paying down those high-interest debts. Reducing your debt load will free up more funds for investment and improve your overall financial health!

Improve Your Credit Score

When it comes to real estate investing, a healthy credit score is crucial. Lenders use your credit score to assess your creditworthiness and determine the interest rates you'll qualify for. Review your credit report, correct any errors, and take steps to improve your credit score by paying bills on time and reducing credit card balances.

Create a Realistic Investment Budget

Once you've assessed your financial situation and set clear goals, create a realistic investment budget. Determine how much you can comfortably invest in real estate without straining your finances. Remember to factor in not only the purchase price of properties but also ongoing expenses like property taxes, insurance, maintenance, and property management fees.

Explore Financing Options

Real estate investments often require significant capital, but you don't need to have all the money upfront. Explore various financing options , such as mortgages, loans, or partnerships with other investors . Choose the financing method that aligns with your financial goals and risk tolerance. At BTK, we have clients that use a variety of investing methods, and we'd love to talk you through all your options for financing.

Diversify Your Investments

While real estate can be a valuable addition to your investment portfolio, it's important not to put all your eggs in one basket. Diversify your investments across different asset classes to reduce risk. Real estate should complement your overall investment strategy, not dominate it.

Continuously Educate Yourself

Real estate is a dynamic field, and market conditions can change rapidly. To make informed investment decisions, commit to ongoing education. Attend seminars, read books, and stay updated on market trends and regulations. Knowledge is a valuable tool for successful real estate investing. Click here for a free, up-to-date Guide to Real Estate Investing in Boise!

In conclusion, getting your finances in order is the first step toward a successful real estate investment journey. Take the time to assess your financial situation, set clear goals, and build a strong financial foundation. With careful planning and a well-thought-out strategy, you can confidently enter the world of real estate investment and work towards achieving your financial dreams.

House Flipping 101: 10 Things You Need To Know

Sat, 09 Sep 2023 00:15:00 GMT

Once you've been with Boise TurnKey for about five minutes, you know we are passionate about BRRRR Real Estate Investing. The first R is for Rehab (and all the terms that encompass the reality of taking an old, outdated, or simply gross house and making it a beautiful home.) Also known as house flipping, it's gained immense popularity in recent years as an enticing way to generate passive income through strategic investments.

In this guide, we'll take you through the 5 Step basics of house flipping, and leave you with 5 tips for flipping success, providing you with a solid foundation to embark on your journey towards a successful BRRRR investment.

5 Basics

House flipping involves purchasing a property (the B: buy), typically one that needs renovation or repairs, at a relatively lower price, and then reselling it after making necessary upgrades to increase its value. The goal is to transform a neglected or dated property into an appealing, modern home that you can sell at a higher price than what you paid for it.

1.Research and Planning:

Successful house flipping begins with thorough research. Study the local real estate market to identify trends, property values, and potential areas of growth. Create a detailed business plan that outlines your budget, timeline, and target profit margins.

2.Property Selection:

Choose properties that have strong potential for improvement. Factors to consider include location, property condition, and the potential for increased value through renovations.

3.Financing:

Secure financing options that suit your needs. This could involve traditional mortgages, hard money loans , private investors, or even personal funds.

4. Renovation and Repairs:

The key to profitable house flipping lies in the renovations. Focus on improvements that provide the most value, such as kitchen and bathroom upgrades, flooring replacements, and curb appeal enhancements. Always stick to your budget and timeline.

5. Marketing and Selling:

Once the renovations are complete, it's time to market the property. High-quality photographs, online listings, and staging can make a significant impact. Price the property competitively to attract potential buyers while ensuring a healthy profit margin.

5 Tips for Success

1.Know Your Market:

Understand the preferences of potential buyers in your target market. This knowledge will guide your renovation choices and pricing strategy. Download our free investors guide to Boise here for market stats, neighborhood descriptions, and other investment tips.

2. Budget Wisely:

Set a budget for both the purchase and renovation phases. Factor in unexpected costs and give yourself some financial cushion.

3. Build a Reliable Team:

Establish relationships with contractors, real estate agents, and other professionals who can help you execute the project effectively. If you choose to invest with Boise Turnkey, that's us! Not only will we walk with you through every step of the process, we have a team of trusted contractors we recommend for different projects and we can provide you with a list of recommendations.

4. Stay Realistic:

While house flipping can be highly profitable, it's essential to have realistic expectations . Not every flip will be a massive success, so be prepared for potential challenges.

5. Continuous Learning:

The real estate market evolves, so stay updated with industry trends, regulations, and best practices to adapt and thrive.

For more on BRRRR basics, check out this article.

If you have questions about any of the above, or are interested in going through the House Flipping process (with the right people!) and want to talk to an agent, reach out to us here!

5 Steps (and Tips!) For Your First BRRRR

Wed, 26 Jul 2023 23:25:06 GMT

At Boise TurnKey, we’ve been BRRRRing before it had a name. While there are many ways to invest in real estate, BRRRR is the simplest way to get started with limited funds and resources. BRRRR is an acronym that stands for Buy, Rehab, Rent, Refinance and Repeat.

Is this your first rodeo? Don't think twice about it–we've put together an overview of the basics to get you on your way.

B: BUYING

When you BRRRR, the goal is to have the property cash flowing with as little of your own money left in the deal when you are done. In order to do that, when you are done with step 2 (rehab), you need to have created approximately 25% equity in the property.

For simplicity’s sake, let’s say you buy a property for $50k and you spend $25k fixing it up. When you're done, you'll want that property to be worth around $100K.

Here’s the simple equation in reverse for a bit more clarity:

Finished value of property (ARV)= $100k

Cost to purchase: $50k

Rehab expenses: $25k

Profit (Equity): $25k

Take a few minutes and look at some properties in your local market and practice applying these ratios to see if there are any properties that fit this equation.

NOTE: You might be thinking, "sure, this all sounds great, but I don’t have the $75k that this scenario would require." Well, we have good news: there are many ways to invest in real estate, and one of those ways is through funding these types of deals. Many people and companies out there solely provide cash to investors who do these types of deals. Search our blog for more information on private money loans (PML), hard money loans (HML) and portfolio lenders. You might even have friends or family members who want to lend you a few bucks and get in on the fun too!

R: Rehab

When most people see a house in poor condition, full of trash and with so many pets that feathers are fluttering out the window, they think “what a mess!” Investors see a house like that and think, “what an opportunity!"

In order to get to that opportunity, you’ll have to do some dirty work. There are two ways to go about it: hire a general contractor (GC) to come in and take care of everything OR do big chunks of the work yourself. If there’s room in the deal for you to hire a contractor and still end up with that 25% equity that we discussed above, that might be a good way to go about it. If you have the time and willingness to work, there’s no better way to learn than jumping in and doing what you can on your own. It'll teach you how difficult or time consuming each task in a rehab might be, which will help you negotiate more effectively with contractors in the future. You’ll learn where to push back and where to be reasonable- and you should always be reasonable. Remember, everyone you work with is on your team.

Finding the RIGHT contractor is your biggest challenge, especially on your first job. Do you hire a GC or do you hire and supervise the individual contractors on your own? If you supervise the job- in what order should the contractors be hired? How should they be compensated? Should you pay them a deposit up front? Do you trust them with your money?

The best way to start is ask your friends and family for referrals- do they know someone trustworthy and reliable, who is reasonably priced? Will they let you shadow them and learn a bit?

Finally, know that some sort of surprise is coming and don’t beat yourself up- that’s how we all learn.

Boise Turnkey partners with several local, honest contractors in all fields. We are happy to refer you to a trusted partner or manage a rehab on your behalf. Let us know how we can help!

R: Rent

Step three? Renting out your newly beautiful place!

The MOST expensive mistake most new investors make? Not thoroughly and properly screening their tenants. You think your rehab was expensive and stressful? Wait until you have a disrespectful tenant who won't pay rent for months on end. Your rehab bill could be a walk in the park in comparison.

But there is good news- it’s actually pretty easy to find yourself reliable and responsible tenants. Screen them. Screen them properly, thoroughly and in accordance with all fair housing laws. It’s really that simple.

You’ll need to develop screening criteria that have nothing to do with the protected classes. You can screen based on income, credit scores, whether they have pets, if they have good references and any other criteria you feel strongly about, as long as they aren’t related to those protected classes. You need to publish your criteria- either on your website, your ads for the property or on your application.

Insider tip- If you own the property and your tenant knows this, every interaction now becomes a negotiation.

If you need help, our property management division has never had a formal eviction. Of course anything is possible, but having an experienced team behind you goes a long way.

R: Refinance

Befriend an investor.

At the top of this post, we recommended a simple formula as a guideline for the math of a BRRRR deal. The actual numbers are imaginary, but understanding the ratios is essential to the process. If you can achieve those ratios on any deal, you can “repeat” the process infinitely, using the same down payment over and over. That’s it!

There are challenges to this and compounding factors; debt to income ratios, required reserves, banks discounting your rents, etc. But here’s the key to remember. A bank is going to require that you have approximately 25% down for every property you own. That 25% can be equity, and you can create that equity through improving the value of the house. If you can improve the value of the property by 25%, the bank will give you your down payment back.

Now you have your pile of cash to repeat the process, which leads us to step 5....

R: Repeat

This is the easy one: just do it all over again! You’ve done the work and you have your initial investment back in your pocket, now go out and repeat!

By now, you have some experience. You’ve worked with a few contractors and you’ve treated them fairly, they’ve treated you fairly, you have the basics of a team built now.

Where do you find your next deal? You might be surprised- now that you’ve got some contacts, sometimes those deals come to you. At Boise TurnKey, we’ve had contractors bring us deals, past clients bring us deals, realtors, tenants, etc. Once you get your name out there and people trust you and you do business fairly and honestly, people will hear about it. Success begets success.

Finally- don’t write off the MLS. People like to assume that deals cannot be had on the MLS, but 95% of the property sales happen there. Keep your eyes peeled and know when to act.

Get out there and build that portfolio!

Want a partner as you work your way through these 5 steps? Boise TurnKey works with any investor at ANY point in their journey. Give us a call at 208-957-087 and we'd love to see how we can help you.

The 5 Best Things to Do in Boise: Summer

Fri, 07 Jul 2023 14:50:13 GMT

Warm air. Long nights. Seeing the city alive well after dark. Running around with friends and family just for fun. Sunscreen, pool time, and ice cream. Soaking up every possible moment outdoors.

Here at Boise Turnkey, summer is kind of a big deal. There are so many things to see and do, and we think everyone deserves a chance to enjoy the city of trees during its warmest months. Some might think going out of state is the best option for their summer vacation, but we’re here to argue otherwise!

Need some convincing?

We created a list of The 5 Best Things to Do in Boise in the Summer. Let’s dive in!

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10 Steps for Estimating Rehab Costs When Using the BRRRR Method (and one SIMPLE budgeting shortcut secret)

Wed, 17 May 2023 18:33:48 GMT

At Boise TurnKey, we offer a wide variety of different investing methods, most often through turnkey investing and the BRRRR method: Buy-Rehab-Rent-Refinance-Repeat. Today, we'll be focusing on the second R: rehab.

Rehab is a hefty step in the process and can feel really overwhelming. Often, getting started on a solid foot is the hardest part with the most complexity; one of the most critical aspects of renovation is accurately estimating rehab costs. This way, you can plan your budget effectively, and avoid any unwelcome surprises. Our goal here is to take the scope of the project and narrow it down by giving you a simple guide to kickstart your rehab process and keep things simple.

Here are 10 steps for Estimating Rehab Costs.

1.Look at the buyer and the neighborhood.

Before you get started, have an idea of the end product and whether or not it will fit in the garden you're planting it in. Is it a vegetable among a raspberry patch? A good thing on its own but out of place where it is? Rehabs are a little like that.

Ask questions about what you're planning– a high end remodel, or just a cosmetic renovation? What do you actually need? Does it fit in the neighborhood you're in? What sorts of people live there? Attend other open houses in the area to see what the standard is: will below-market finishes in a wealthy neighborhood result in a house left empty? Or will a luxury remodel in an inexpensive neighborhood result in buyers unwilling to pay extra, leaving your property lingering in vacancy?

What sort of homes are in the neighborhood, and what do those homes need in order to be competitors in the market? Answer those questions first, and then jump in.

2. Evaluate the scope.

Once you understand what sort of remodel you're undertaking, make a list (bathrooms, kitchen, flooring, electrical, plumbing, etc.) What needs to be replaced/redone/remodeled, and to what extent? Walk through the property very slowly, taking photos and videos to help jog your memory as you plan and execute later. Be extremely detailed, and don't cut corners. Be honest about what needs work, so you're not unpleasantly surprised later. Go through each room and write down potential problems in each room, and finish with the exterior, taking note of roof, siding, etc.

This finished list detailing which rooms need work and to what degree will provide a clear roadmap as you move forward, and help you to make the most accurate estimate for your budget.

3. Make a spreadsheet

Bigger Pockets has created this spreadsheet of 25 categories to organize your list, which encompasses every element of the rehab process. Utilize this to ensure nothing falls through the cracks (pun intended).

4. Research and gather information.

Once you're clear on what you need to do, start your research. Going through your spreadsheet one category at a time , take a thorough look at materials at home improvement stores and online marketplaces. Make calls to contractors, and do online research. If you're planning on doing multiple rehabs in your investment journey, make a second spreadsheet of each repair cost, including final receipts, quotes, and other details you want to remember so you only have to do this work once!

Boise Turnkey is consistently rehabbing properties, and we are always happy to either help you along the way or simply manage the entire process for our clients. The contractors we work with seasoned contractors that are reputable, and in many cases, have been our partners for well over a decade.

5. Determine material costs.

We recommend spending a good amount of time in person in home improvement stores, especially if you're beginning your journey. This will give you a good idea of how much materials typically cost, which will help you see how much you should be paying contractors, or where you're getting the best bang for your buck. Research different suppliers and factor in the quality, durability, and price variations. Better quality materials will cost more (as you would imagine), but don't just settle for the cheapest materials. If you want your rehab to be beautiful and functional long-term, make the necessary sacrifice and purchase better quality materials. The last thing you want is to replace today’s work and expenses again in three years.

6. Determine labor costs.

For a rough estimate on labor cost in labor, we suggest doubling the price of the materials. If you work with a contractor, they can provide you with updated costs for each rehab task. If you plan to hire professionals, obtain multiple quotes from licensed contractors with a solid reputation.

Look for reputable contractors who are experts at what they're doing. You can use an online contractor platform, or approach contractors yourself through online searching. Get at least three quotes, and don't necessarily just pick the cheapest one. There's probably a reason they're the cheapest…trust us, we’ve learned that one the hard way. It’s a rite of passage! Consider experience, expertise, and reviews most of all, and ask your friends who have done similar projects who they used, how much it cost them, etc.

Alternatively, if you're confident in your own abilities, you can estimate labor costs based on the time required for each task and apply a reasonable hourly rate. Another way to estimate rehab costs, should you decide to do the work yourself, is to multiply the rehab cost per square foot by the size of your property. This doesn't work all the time (for plumbing/HVAC upgrades, etc.), but it is a great way to get a loose idea of how much the rehab will cost you.

7. Create a contingency budget.

You'll want to plan a contingency budget anywhere between 5-15% of the quoted price. This ensures that you're not surprised later on as unforeseen costs crop up, such as structural damage or plumbing problems, and results in peace of mind (and potentially a happy surprise at the end of the project if you don't actually need it.) Our team always highly recommends a professional inspection before you purchase a property, which should eliminate any big, nasty surprises.

8. Permits and Professional Fees:

Check local building regulations and determine if your remodeling project requires any permits. Research the associated fees and factor them into your estimation. Additionally, if you plan to hire architects or designers, don't forget to include their fees in your budget. Keep in mind, the property owner cannot obtain permits for skilled trades unless the property is their primary residence, so you will still need to hire out HVAC, plumbing and electrical.

9. Time Frame:

When do you need the rehab done? If you need the job done quickly, expect to pay more, and keep in mind, doing the work yourself might save you money up front, but holding costs may destroy any savings. Also, remember that a drywall job that can take you a week to complete would likely take a pro one day.

10. Ongoing maintenance and upkeep:

Don't overlook the long-term costs associated with maintaining your remodeled home. Consider any additional expenses for routine maintenance, repairs, or upgrades that may be required after the project is complete.

BONUS BUDGETING HACK:

There is a shorthand for budgeting rehabs that we’ve come up with, that we've found works really well when analyzing a deal at a high level to see if the numbers work:

For a “lipstick rehab” which is generally flooring, paint and some upgraded hardware and light fixtures, you can estimate a budget of approximately $10 per square foot when working with a reasonable general contractor.

For a heavy remodel- new kitchen, baths, etc, you can estimate approximately $20 per foot.

As you prepare for your rehab, reach out! We'd love to walk through this process with you, or simply give you the help you need as you estimate how much you should plan to budget. Questions about funding or loans? Give us a call at 208-957-0870 to start the conversation.

5 Reasons to Use a Hard Money Loan

Fri, 05 May 2023 06:00:04 GMT

If you're considering real estate in vesting, whether you are a seasoned professional, a property developer, or brand new to the whole experience, you probably have stumbled across the term "hard money loans." But you may be wondering: what exactly are they? How are they any different from traditional bank loans? And why do they matter to me? In this post, we'll explore definitions, their function, and what you need to know about them to maximize your investing experience.

What are Hard Money Loans?

Hard money loans, aka private money loans or asset-based loans , are just one type of short-term financing most often used by real estate investors or developers to purchase, renovate or refinance properties. Simply, a hard money loan is a loan for a property that doesn't come from traditional lenders, but from people or private companies that accept assets as collateral. This type of loan can be beneficial for a few reasons, mainly:

You don't need to have great credit. Because hard money loans are not traditional bank loans, the borrower's financial history or credit is not necessarily taken into consideration. The loan is based on the value of the property alone.
It speeds up the process. Because you're not going through a traditional financial institution, the borrower can get their money within a matter of days, instead of weeks or months. This can be helpful in situations such as foreclosure auctions or competitive markets.

So, how does it actually work?

Har d money loans are typically pro vided by private lenders, such as investors or small companies, rather than banks or other large financial institutions. The short-term loan ranges from a few months to a few years, and, to compensate for the higher risk involved with hard money loans, the interest rates are higher.

As mentioned above, the key factor in these types of loans is collateral: the property being purchased or renovated. The value in question determines the loan amount, and the private lenders tend to provide loans ranging from 50-70% of the property's appraisal. You'll need to provide a down payment on the property (about 20-50%) and then that property serves as the loan's security. If the loan is not repaid, the property is foreclosed and sold to recoup the investment.

Why Choose Hard Money Loans?

So to close, why would you choose to use a hard money loan?

Despite the higher interest rates and fees compared to regular loans, they can be a great option depending on your situation. Here are 5 reasons you, the borrower, might use a hard money loan:

Credit Issues : If you have a history of poor credit, foreclosure, or bankruptcy, you may find it challenging to qualify for traditional loans. Hard money lenders focus on the property's value rather than your creditworthiness, making these loans a viable option for borrowers with credit issues.
Time-Sensitive Deals: In a competitive real estate market like Boise, a quick offer can make a difference. Hard money loans have a fast approval and funding process.
Property Renovations: If you're a real estate investor who plans to employ the BRRRR method of real estate investing, you'll need to purchase and rehab properties to increase their value. A hard money loan is a great option for this type of investing, because the property serves as collateral, and the loan can be used to fund the purchase and renovation costs. Once you complete renovations, the property can be sold or refinanced with a traditional loan.
Flexible Loan Terms: Hard money loans typically employ more flexible loan terms and requirements. Instead of only considering credit score or income requirements, lenders have the potential to consider factors such as the property's potential value, the borrower's experience in real estate investing, and the overall profitability of the deal.
Investment Properties: If you're looking into purchasing non-owner occupied investment properties, like rental or commercial properties, you may find it difficult to qualify for a traditional loan, especially if you're just getting started. Hard money loans can be a viable option for financing investment properties, as they are primarily based on the property's potential value.

If you have more questions about Hard Money Loans, you know where to find us! We'd love to talk with you about all things real estate investing, and look forward to meeting you.

Give us a call at 208-957-0208 or email us at info@boiseturnkey.co m to ge t started!

What is Seller Financing, and Why Should I Use It?

Fri, 07 Apr 2023 06:00:00 GMT

Looking to sell your home quickly? Or purchase a home while your credit is in repair? Seller financing might be just the way to go!

Seller Financing is a process where the property owner also handles the mortgage process instead of a bank. This is a unique process that allows the buyer and seller to together handle financing agreements and negotiations on their own. It functions similarly to a traditional mortgage, but eliminates the standard rules and requirements of a bank and allows the buyer and seller to agree to whatever terms work for them.

So, what would be the point of choosing to use this financing option?

For buyers, no minimum downpayment is necessarily required, and provides home ownership access for those who are working on their credit. For low-income buyers, this also allows more access to other financing opportunities, and lower expenses with closing costs, alleviating some of the financial burden of purchasing the home. The agreement terms are more flexible as well, and buyers don’t have to pay PMI (private mortgage insurance) premiums. PMI protects the lender should the buyer fail to make their payments, and this piece is not necessary in seller financing. Essentially, with seller financing's lack of regulations, the terms of the loan are 100% flexible.

For sellers, advantages abound as well. Sellers can minimize closing costs by utilizing seller financing, and set themselves up for success through amortizing capital gains tax savings over time. Interest rates are negotiable on the loan due to the nature of this type of financing and lack of institutional protection- obviously not the case when you are working with Wells Fargo. Additionally, you can sell the promissory note to an investor to liquidate your assets quickly. There are fewer regulations to sell, which speeds up the selling process; the property is able to be sold as-is, without the need for repairs and the requirement of having an appraisal is eliminated. Sellers are not required to pay property tax, homeowners insurance, and other maintenance expenses.

However, as with many things, there are also disadvantages to seller financing. Fewer regulations can result in more freedom, but, when not handled correctly, can wind up complicating the process.

If you feel as if seller financing might be the path forward in your personal real estate investing journey but don't know where to start, or want to be sure to avoid the possible pitfalls associated with seller financing, we are uniquely positioned to guide you and answer any questions you might have. The best way to protect yourself and your interests is to work with experienced and qualified professionals.

At Boise TurnKey, we want to help you have the best investing experience possible, and see your financial goals come to fruition. Give us a call at 208-957208 or email us at info@boiseturnkey.com . We look forward to financing with you.

BRRRR's, Air BnB's, and Other Types of Investing with Boise Turnkey

Wed, 01 Mar 2023 21:48:10 GMT

As you finish February on the brink of springtime, are you sitting at home, wondering about ways to mix it up and shake off the winter blues during the next few months? At Boise TurnKey, we have been busy preparing for summertime and vacationers (Air BnB's, anyone?), as well as helping our clients meet their start-of-year goals, one step at a time.

Here's what we've been up to, and how you can jump in with us!

We currently have eight properties under contract for different investor clients, and are finishing up this BRRRR for an out-of-state client! (You don't have to live in Boise to reap the benefits of investing in the valley!) This property will be perfect for long-term tenants, or to use as an Air BnB.

At Boise TurnKey we implement a variety of real estate investing methods, including the BRRRR method of real estate investing listed above: Buy-Rehab-Rent-Refinance-Repeat. This provides a passive income, and a cyclical process for recycling the same cash over and over to buy and own multiple rental properties. It differs from traditional real estate investing in that we focus on investing in properties that need some love, fix them up, and help our clients get those properties refinanced in order to pull all (or most) of the cash they’ve invested back out and purchase a new property.

In addition to BRRRR's, we do turnkey deals, 1031-exhanges, wholesales, house hacking, ADU's, military house hacks, and occasional flips.

If you're interested in cultivating a passive income with Boise TurnKey, want more information about any of the investing methods above, or are interested in using your property as an AirBnB, we'd love to get in contact with you.

And speaking of AirBnb's…

THIS WEEKEND, we are hosting an in-person educational networking event specif ically for learning about key strategies for managing AirBnBs. It will take place at an actual investment property that our team JUST finished preparing for the STR market right here in Boise. They’ll go over all of the details, processes, expenses and projections and answer any questions that you might have. Plus, there will be snacks and drinks! Check out the flyer below for more information!

If you can not make this event, no worries! We'd love to meet with you and talk through the variety of ways that real estate investing could fit into your lifestyle. We believe it does!

Give us a call at 208-957-0870 or email us at info@boiseturnkey.com to get in touch today.

Professional Tenant Screening and Best Practices

Fri, 10 Feb 2023 07:00:01 GMT

I t's official. You've just invested in your first rental property. You're thrilled about your new investment, until the dread of the unknown creeps into your brain. One major question hovers in your mind: who will be living in your investment? How do you ensure the tenant living there will be responsible, qualified, and on top of payments?

If this sounds like you, don't panic. Tenant screening is actually easier than you might think, for one simple reason. You don't choose a tenant. Your tenant qualifies for your rental, or doesn't. This both lifts the pressure from you feeling like you have to choose the right person, and protects you from any sort of Fair Housing violation , allowing you to make objective decisions (your applicant's credit score is too low) as opposed to subjective decisions (you didn't get a good feeling about the applicant). The fact of the matter is that simple screening and guidelines will make your life easier and dramatically reduce chances of discrimination claims against you.

So, how does professional tenant screening actually work? Your property manager will have basic criteria that every applicant must meet, such as income requirements, credit score, criminal history, etc. They make sure none of these are related to any protected classes, and make sure they screen each tenant the same way every time. The criteria will be published in the rental ad, so prospective tenants know what to expect right away.

As you create your screening criteria, you should have two goals in mind: remain in compliance with Fair Housing requirements, and create a list that will best assist you in finding an applicant that will pay rent reliably, follow lease terms and rules, and treat the property with extreme respect. Some ethical, objective application requirements:

Verification of income and employment (demonstration of ability to pay bills on time)
Review a credit report
Follow-up with previous landlords
Ask for references
Review criminal history
Review public records
Review history of lease violations or history of evictions
Consider pets

The last thing to keep in mind? The first person to pass your tenant screening qualifications is offered the property. This makes it easier on you, and again, helps you avoid sticky situations. Give the prospective tenants a deadline to pay their security deposit or other financial terms as specified in your lease. If the deadline passes, move on to the next application. Remember to document everything, and keep all your communications in writing. You never know when you might need to prove that you are operating within the boundaries of fair housing.

Does this still seem like a lot to handle on your own? BoiseTurnKey has specific tenant screening criteria , and we'd walk you through setting up ap plications and rental agreements. We value protecting our clients and providing quality housing for all, and above all, we want your process to be seamless and stress-free.

Reach out to us here with any questions or to set up a meeting with one of our agents!

One Secret to Reaching Your New Year Goals

Thu, 12 Jan 2023 22:05:13 GMT

What if this January you used real e state investing to position yourself to receive passive income that opens your schedule and allows you to actually do the things you care about?

H appy New Year from Boise TurnKey!

2023 is here, complete with our traditional January inversions settling in on the valley, winter sports like tubing, skiing, snowboarding, and ice skating, and that desire for warmer weather to come quickly! January typically ushers in a season of traditional new year goal setting and desired achievements–diet, exercise, less screen time, more productivity, increased asset gains, and quality time with family and friends. But at the start of the new year, we are asking a new question: what if January also meant a renewed season of buying back time to focus on your goals, that coveted time for fitness, family, recreation or travel?

What if this January you used real estate investing to position yourself to receive passive income that opens your schedule and allows you to actually do the things you care about?

Hear us out: real estate investing helps to diversify your existing investment portfolio, and can become an additional income stream. It can be as hands-off as you want it to be, depending on how you choose to invest. Not only is it a safe strategy for creating long term wealth, but real estate investing is a tangible asset with incredible tax advantages , such as IRS 1031 exchanges . It is difficult to be defrauded, and is a great way to hedge against inflation. Unlike stocks, you can leverage your debt to buy more real estate, and selling is always an option. The worth of your investment never drops to zero–it is always worth something.

To make this new strategy work, you'll need a team who knows real estate, investing, and the ins and outs of the local market. You're looking for someone to guide you through the whole process, start to finish. That's where we come in.

At Boise TurnKey, we are expert real estate consultants who serve our investor clients first. We work with investors from around the globe to build portfolios of high quality properties that grow in value and produce generations of income. We utilize the BRRRR method of real estate investing (Buy-Rehab-Rent-Refinance-Repeat,) and offer in-house property management, property rehabilitation, house valuation, real estate investing expertise, financing, and creative solutions to find and craft flexible deals that work for you!

To get started on buying back your precious time to focus on new goals and refocus on forgotten ones, contact us today at info@boiseturnkey.org or 208-957-0870.

A Thank You to Our Clients, and a Christmas Show!

Thu, 08 Dec 2022 19:23:17 GMT

With the holiday season in full swin g, it is easy to get caught up in the frantic rush to meet end-of-year goals and finish long-term projects. It is tempting to focus on resolutions, goals, and hopes for 2023, the new calendar waiting for us just three weeks away. And although we at Boise Turnkey love goals and seeing you succeed, we wanted to take a moment to pause and reflect.

As we draw near to the end of 2022, we wanted to acknowledge the number one thing that has made this year incredible: you.

We are so grateful for all of you, our incredible clients, who have trusted us with your investments, your time, and your energy. We are grateful for your continued service and support. Your trust and relationship with us is not something we take lightly, and we are immensely grateful! We could not do the work we get to do without you, and we treasure getting to partner with you. We are truly honored to have spent the last year with you, and look forward to continuing into the future.

As the year closes, thanks to you and your continued trust, we are able to sponsor a Christmas family variety show that will benefit our friends at LEAP Housing. LEAP is a Boise-based nonprofit with a focus on affordable housing solutions. The show, "I'll Be Home For Christmas: A Handmade, Homespun Family Christmas Show," will take place at the Basque Center in the heart of downtown Boise on December 22nd. The silent auction, with items such as "experience baskets" and original paintings and photographs from local artists, will start at 6:00pm, and the show will start at 6:30 pm. Admission is free, and donations are encouraged. Additionally, there will be snacks and cocoa to purchase, ample Christmas cheer, and many different Christmas acts, including instrumental pieces, kids choir songs, singer-songwriters, movie clips, spoken word poetry, and even an improv act! It is the perfect way to usher in the Christmas weekend, and we hope to celebrate with you there!

This will be our last blog of the year, but we'll be back in January with more great tips and tricks for real estate investing in Boise. In the meantime, follow us and our friends @turnkeybrothers on instagram for fun, ongoing content.

Wishing you a very happy holiday season, and thank you again, from the bottom of our hearts.

–Your friends at Boise TurnKey

Switching to eXp Realty

alyssa@solidcreative.media (Alyssa Stadtlander) — Fri, 11 Nov 2022 07:00:01 GMT

As of this last week, BoiseTurn Key has officially switched from Keller Williams Brokerage to eXp Realty. This may not seem like a big deal to you but it was time for a change to serve our clients to the best of our ability.

There are several reasons we decided to make this change, but before we go any further, we wanted to take a moment to walk you through our reasoning in making this shift to eXp, and why it matters for our clients!

First, eXp is a one united brokerage, instead of individual franchises. This international brokerage (branching into Australia, Canada, and the UK) works to make life as simple as possible for their agents, which in turn, creates simple, repeatable systems that benefit our clients. This is vital to your success as our real estate investment client because we will now have access to the experience and support of people across the globe, increasing both our skill and our bank of expertise to draw from as we advise and encourage you.

Along these lines, eXp realizes that even though they are a global company, it doesn't mean their agents need to feel disconnected. Your agents at Boise Turnkey continue to learn and grow through live ongoing training and classes, undergoing a robust curriculum for new agents. The training covers sales and listings, lead generation, social media, CRM tools, and more, all strategies that are ever changing, keeping us (and you!) with our finger on the pulse of today's market. This will result in more equity in your pocket, as we improve at our task of equipping you with the tools you need to succeed.

The most attractive part of this change is being around and networking with other top agents from around the country, learning innovative ways to best serve our clients to the highest level possible. It’s vital to our team that we are on the forefront of technology and providing as much value as possible to our clients. This move gives us access to more resources, more partnerships and more value.

If you have other questions or concerns regarding this change, please reach out to us at info@boiseturnkey.com . We'd love to answer any questions you might have, and help to put you at ease.

We are so grateful for your continued trust and look forward to continuing to serve you.

The 5 Best Things to Do in Boise: Autumn

Fri, 14 Oct 2022 21:00:04 GMT

The Idaho state capital is great year round, but we'd argue that autumn is Boise's best look (and the best time to visit!)

Shorter days. Stunning sunsets. Those crisp, chilly mornings where you can see your breath. The crunch of golden leaves beneath your feet. Fresh air. Sweaters. Warm tea. Pumpkin spice… everything.

At Boise Turnkey, we love this autumn season and all it has to offer, especially in our city of trees. The Idaho state capital is great year round, but we'd argue that autumn is Boise's best look (and the best time to visit!).

Don't believe us?

We've made a list of The 5 Best Things to Do in Boise in the Fall. Let us try to convince you!

Hike the Hill at Camel's Back Park:
Camel's Back is an incredible place to view the stunning array of colors as the trees turn. For your more active family members, hike straight up the staircase embedded into the front of the hill. Or, if sweating isn't really your thing, climb the winding trail around the side of the hill and meet your friends at the top. Catch your breath and marvel at the views of the city, the fall colors, the downtown skyline, and the blue October sky. Afterwards, walk down 13th into Hyde Park for a coffee or sandwich at a variety of delicious coffee shops, cafes, and restaurants.

The Love Family Farmstead

The Farmstead in Kuna is the classic fall event. When it comes to pumpkin patches, The Farmstead knows what they are doing. They host the traditional pumpkin patch activities such as Idaho's original corn maze, a large pumpkin patch, and hayrides, but also provide a whole host of family fun: jumping pillows, ropes course, beeline, corn boxes, pig races, potato sack slides (this is Idaho, after all), a bee train, a cow train, pony rides, games, and more, if you can believe it. If you go early enough in the season, they also have a U-Pick flower farm!

In addition to all of this, they have food trucks, hot cocoa, chocolate milk, cookies, incredible sunsets and instagram-worthy photo ops.

Kelley Orchards

This off-the-beaten path requires an hour drive into Weiser, but is well worth the trip. Although it is not flashy like other U-pick orchards, family-run Kelley Orchards provides friendly service, and rows of fresh, premium produce for you to pick, or to purchase from their barn. Cultivate a connection with the Earth, and breathe in the country air as you walk through the rows of delicious fruit. Dogs are welcome to romp as you fill your bags. But be careful, the fruit looks so incredible, you may accidentally pick too much! (Although, that's never a bad problem to have. Applesauce, anyone?)

They have a variety of grapes, plums, pluots, nectarines, peaches, and apples available throughout the fall. They sell delicious salsa and in-house dried fruit as well.

On your way out, stop at Jack Henry Coffee Shop in Fruitland for a delicious chai latte, or other sweet fall treat!

Boise State Football Games

We'd be remiss to not cheer for our Boise State Broncos! Attending football games downtown is a classic fall activity. Hit up one of the many fun events hosted at the plethora of local breweries during October, and follow it up with a BSU game on the blue turf. This eye-catching field has been a Boise highlight since 1986. Incredible weather in October also lends itself well to tailgating in many of the city parks under the changing colors of the oak trees.

Alberton's Stadium is fun to experience as well, and is about to get even better. Construction is underway to replace the small south screen with what is set to be the largest video board in the Mountain West, at 120 by 50 feet.

Fall Harvest at the Botanical Gardens

The Botanical Gardens offer top quality entertainment and beauty year round! Visit the Garden every Saturday throughout October for the family-friendly Fall Harvest Days. Each Saturday offers a unique experience featuring Scarecrow Stroll, artisan vendors, food trucks, local beer, cider, and wine, and live music. There really is something for everyone! Set aside a few weekends to come and enjoy one of the best times to be in the Garden.

The Fall Harvest days are FREE for members, and for children under 3!

If we didn't convince you yet, open your blinds and leave your windows open for an afternoon. Or better yet, open your door and go for a walk. Listen to those leaves crunch under your feet and breathe deeply. You'll be glad you did!

Why You Should Diversify Your Investment Portfolio To Real Estate

Wed, 21 Sep 2022 13:31:00 GMT

Whether you are a first-time investor looking to dip into the pool or a seasoned investor ready to diversify your investment portfolio, real estate is the place to be. A substantial investment portfolio can mean financial stability, endless streams of passive income, significant assets, leverageable equity, and last but DEFINITELY not least, massive tax benefits.

Why Real Estate Investing?

The beauty of real estate investing is the stability of income through property management and, of course, the physical asset aspect. Many new investors fearful of the rollercoaster that often accompanies the stock market and other investment opportunities find solace and fortune when they diversify their opportunities to real estate.

The Key To Turnkey

Turnkey properties are attractive for investors because they come with everything they need to immediately offer a return on investment. Companies with extensive experience in this process, like Boise Turnkey Properties, simplify this even further for investors. Here are a few key things to keep in mind as you consider investing in turnkey properties:

The great thing about Boise Turnkey Properties is that you choose your level of involvement! Whether you’re aiming for a hands-off approach purely focused on passive income or coming at this from a feet-on-the-ground viewpoint, we’re your team. Contact us today to start your real estate investing experience!

Investment Properties: How To Spot Potential

Mon, 29 Aug 2022 18:48:00 GMT

Are you looking to grow your investment portfolio but unsure how to identify properties that will perform in the way you would like? Whether you are a seasoned investor or a first-time homebuyer, searching for potential can be a daunting, complex task. Investment properties, whether prospective rentals or flipped homes, can be exceptionally profitable if you make the right choice.

An investment property needs to fit into an investor’s vision for their future returns and the life they plan to lead. Affordability, financing, and return on investment are key factors when selecting the most suitable investment property. When shopping for investment properties, consider the following factors:

Capital Improvements

Many clients ask us, “what types of repairs are dealbreakers?” The simple answer is none- if the numbers work, they work- anything can be repaired if you can afford to have the repairs done. That’s the key- affording the repair. If a property needs capital improvements- a new roof, driveway, siding, etc., make sure you have worked those expenses into your numbers and know exactly what you are getting into. Your due diligence period is vital to this in order to eliminate any surprises!

Rules of Thumb

There are several “rules of thumb” that people use for analyzing investment properties; the one percent rule, the two percent rule, the 70% rule, the list goes on and on. Depending on your experience and the market you are investing in, those rules can be helpful for rudimentary analysis. The problem, however, is that many new investors never dig deeper than those rudimentary numbers and pass up on good deals or buy bad ones based on one simple calculation. Learning the nuances that make properties perform is crucial.

Location, Location, Location

The location of a property can be an essential determining factor in its inherent value. Knowing your market and what features will be desirable to their buyers will help in either selling or renting out that property. In fact, many renters are often willing to pay more if a property is in a desirable part of town or in a growing neighborhood.

Property Management

Many new investors think that self-managing is a great way to create better cash flow on a new investment. While it’s possible to self-manage well, the truth is that most new investors get themselves in trouble very quickly. Sometimes they end up with a professional tenant who is taking them for a ride, or they use a “free” lease that they found online and learn the hard way that it doesn’t protect their interest in the way they want it to. Finally- many new landlords simply don’t know how to calculate market rents and leave way too much money on the table every month. A good property manager will pay for themselves very quickly, so don’t overlook them as a valuable business partner, but make sure you vet them in the same way you did the property!

The entire real estate investment process can be daunting to undertake alone. As you look to grow your investment portfolio, ensure that you find properties that will perform in the way you need and expect them to. If you have any questions, feel free to reach out to one of our investment ninjas or check out our free guide on finding potential in investment properties.

Is It A Better Investment To Flip A Home Or Rent It Out?

Fri, 26 Aug 2022 15:00:00 GMT

There are unlimited resources available when it comes to real estate investing. The BRRRR Method can be essential for investors who understand the housing market and want to create a stream of passive income, leaving little to no cash of their own in each deal. However, many people don’t want the hassle of continued involvement that comes with renting a property. As with any business strategy, there are pros and cons to both. It all depends on your goals and what you’re willing to put into it.

Flipping (Active Income)

Ultimately, the stark difference between flipping a house and renting it out lies in semantics. Flipping a property is not real estate investing- it’s active and taxed as such. It can an extremely profitable endeavor, but it requires more effort. However, once investors are through this initial process, there is a much faster return. While many argue that flipping properties removes the hassle of property management, but property management can be outsourced to a professional manager.

Renting (Passive Income)

While flipping can bring a return quickly, renting still has the potential for much better long-term returns. Consistency is perhaps the most significant advantage of this investment strategy; a monthly income from rent can allow investors to find a stream of passive income through real estate. Another incentive to rent out properties is that the value and rents will increase over time, allowing you to increase that monthly income. The greatest benefit of buy-and-hold investors is often overlooked- depreciation. That depreciation is quite literally cash in your pocket in addition to rents. If you are new to the concept of depreciation, reach out and we will walk you through how it works and the long-term benefits.

So, Which Is Better For Me?

End all be all, there isn’t one perfect real estate investment strategy that is guaranteed to work for you. Flipping is an excellent strategy for those that need to build capital, but the ultimate goal should always be to keep properties and let them grow and depreciate passively, creating generational wealth. When you flip a property, you stop making money when you sell it. When you rent, you lock in that income indefinitely and passively. Fortunately, some methods can work for both types of investors. Boise Turnkey offers investors the opportunity to invest as little or as much as they please. We are your feet on the ground, will find and negotiate properties for you, and will even handle the tenant side of rentals with our in-house property management company. All you need is a desire for passive income through real estate investing! If you’re ready to start your investment journey in Boise, contact us at info@boiseturnkey.com or click here .

Understanding The BRRRR Real Estate Investment Strategy

Tue, 02 Aug 2022 13:38:00 GMT

As you navigate your real estate investment journey, you’re guaranteed to have heard of the BRRRR Strategy. This method is often used by investors hoping to build a robust framework of passive income through real estate. The framework itself is broken up into five steps: buy, rehab, rent, refinance, and repeat. When used properly, the BRRRR Method can provide passive income and a revolving process of purchasing and owning rental properties.

How The BRRRR Method Works

This investment strategy involves an investor purchasing a distressed property in need of rehabilitation, flipping it, then renting it out to tenants for extended periods. This rent will support the investor in refinancing and fund the purchase of a second rental property.

Check out a breakdown of the BRRRR Method below:

Caldwell Client Story

Boise Turnkey is always on the lookout for excellent BRRRR opportunities, and a recent client project of ours provided the perfect example of this method.

This project was on behalf of an out-of-state client focused on building their investment portfolio and increasing their stream of passive income. We found, negotiated, and supported the purchase of the property at $210,000. Many elements go into a purchase of this sort, and it is essential to know the area where the property is located. The property is a historic home residing just outside of Boise in Caldwell, one of the hottest metro markets in the area.

While the property needed some work, the location was unbelievable! This was an incredible find, within walking distance to restaurants, parks, coffee shops, etc. The client invested $30,000 for the rehabilitation, which took six weeks after closing, and was immediately rented out by our in-house property management team for $1,500.

After six months, our client completed the final step in the BRRRR process, refinancing. The property was appraised for $385,000, allowing the client to get a 100 percent return on their investment AND leave closing with a hefty check of roughly $40,000.

Beginner BRRRR investors often face the challenge of determining which investment properties will give them a healthy return on investment and building a reliable team to take the project from “fixer-upper” to a cash-flowing investment. Boise Turnkey already has every member of that team built for you, when you work with us, you tap into our network of contractors, lenders, and vendors that we have spent decades building out. Our client story above is a prime example of how knowing these buyer incentives, like an excellent Caldwell location, could put a property above others and indicate it will sell well. Don’t let uncertainties steer you away from incredible investment opportunities. Contact us today, and we’ll be your feet on the ground.

A Real Estate Investment Chat With John and Kyle from Investories Podcast

Tue, 19 Jul 2022 20:36:00 GMT

Our goal at Boise Turnkey Properties has always been to share our passion for real estate investing. And I recently had the pleasure of speaking with John Hooper and Kyle Robertson on the Investories Podcast to do exactly that. If you’re interested in getting into the investment industry, but are unsure of how to start, let’s jump into some of the most important things to know.

The History of Boise Turnkey Properties

I always like to share my story with potential investors, so they have a better understanding of who I am as their partner and how Boise Turnkey Properties was born. As a Boise native through and through, my passion for real estate sprung from my own personal experience. Before becoming an investor myself, I had a background in education. As my wife and I navigated the process of investing in Boise real estate, we ran into tons of challenges. But no matter what challenges we faced, we were still able to turn a profit. From this experience and our desire to coach others in this process, Boise Turnkey Properties came to fruition.

Our primary focus lies in supporting investors across the nation in finding prime real estate opportunities and turning these investments into incredible streams of passive income for our clients. While our focus is on Boise real estate investments, we support clients throughout the country, helping them find incredible opportunities in a booming real estate market !

While there are many turnkey companies out there, our business model is unique. We work with clients individually to gain a strong understanding of their investment goals; then, we hit the ground running to find the best possible match. Depending on the goals of the client, we help them maneuver through the buying process and utilize our key partnerships throughout Boise to support any rehabilitation to the property. Our in-house property management company, Cohesion Properties , provides a supplementary service to support investors in managing tenants and the maintenance of their investments, creating a stream of passive income for our clients.

How To Get Started As An Investor

Jumping into the investment industry without experience is terrifying. Trust us, we know. That’s why we not only partner with our clients to find the perfect investments, but we also coach them on best practices and how to get to know the business and the market. As you consider your options, here are some pointers we like to give first-time investors that are wary of taking that first step.

If you prefer a more hands-off approach, we handle all of these aspects for our clients. We discuss your goals, dissect all the available options in the area, detail a realistic timeline, and then get down to business. Our team will be out looking at properties, negotiating on our clients’ behalf, and handling the closing process, establishing a source of passive income for our investors.

The Boise Market

A unique aspect of the Boise real estate market is the popularity of short-term rentals. The demand for short-term rentals is skyrocketing, and this is coming from multiple areas. With the entire housing market booming in Boise, many investors are utilizing short-term rentals to come down and shop for investments.

In other ways, Boise is uniquely situated. Endless opportunities are at the fingertips of every resident. One minute you can be going for a leisurely bike ride downtown, and the next, you’re on a mountain trail with stunning views. The perfect combination of incredible outdoor recreation and the vibrant nature of a bustling city, Boise is truly a hidden gem for real estate investors.

If you know the business, build meaningful, long-lasting professional relationships, and put in that initial work, you’ll be amazed at how many opportunities will drop in your lap. Listen to the full podcast here , and let’s chat about your real estate goals.

What Makes These Neighborhoods in Boise Great

Thu, 16 Jun 2022 14:01:00 GMT

Summertime; grills are being fired up, lawn mowers are humming all over town and families are packing up their cars for trips to Wallyworld It’s the most fun time of year for many people. It’s also the perfect time to spend the extra long days checking out properties, reading, and listening to real estate podcasts! Boise summers are seriously the best. It’s light until 10:30pm, it’s sunny and 95 degrees every day. Whether you want to go mountain biking up 8th street, surfing at whitewater park, or water skiing at Lucky Peak, Boise is the best-kept summer spot in the United States.

It’s just the icing on the cake that Boise is such a great place to invest. There are remarkable real estate opportunities, safe neighborhoods, and strong communities rich in local events. Some of the most desirable areas to invest in include the Bench, the North End, West Boise, and Downtown. Let’s look at some reasons why these areas are the best spots to invest in Boise.

The Bench

Named for its sudden rise in elevation, The Boise Bench is home to a close-knit community of friends and families that love to enjoy the enthralling outdoor amenities that come with living in this funky corner of town. Located just south of downtown, this neighborhood is known for housing the famous Aquarium of Boise and the historic 1925 Boise Depot. Some of the things that people love about the bench are the diversity of the properties- it’s an excellent mix of unique and historical homes along with many pockets of restaurants, coffee shops, and local boutiques mixed in among the homes. It’s also got excellent access to downtown and BSU- there are a few bike and footpaths that snake off of the Boise River Greenbelt up to the bench, but only locals know where many of them are. Residents can enjoy the outstanding views of the downtown skyline and the Boise foothills, an abundance of family-friendly parks, and easy access to downtown Boise.

West Boise

This community brings the calm back to the city. While residents enjoy the peaceful aspects of their hometown, there is plenty to keep up with in West Boise. The Urban Air Adventure Park will have your heart racing, and don’t forget to check out the laid-back bars and restaurants like Sockeye Brewing for an end to a beautiful summer day. West Boise is really the heart of town- dozens of parks, public pools, and bike and footpaths are peppered in to every neighborhood. Families love this part of town because it’s geographically the center of the valley, so access is great, but the lots are larger, there are more parks and schools are all close by. For someone looking to have their own large yard and get a true feel for Boise life, West Boise is the place!

Downtown

A polar opposite of the laid-back West Boise, downtown is the center of activity. A bustling location, Downtown Boise is home to the Boise Art Museum, the Grove, the Basque Market, the Boise Zoo, and practically everything else you could ever want to explore, eat, or drink. Boise is so much more than a sleepy oasis in the desert of SW Idaho- our downtown scene is legit- there are plenty of restaurants that will blow your mind , whether you are a wine snob or a street taco aficionado, Boise has exactly what you need. Insider tip- the best bakery in the Northwest is tucked into the edge of downtown- order the cherry pie scone and a cup of coffee. If it’s not the best treat you’ve ever had, we will PERSONALLY refund you!. Don’t let the busy downtown fool you, though. There are some exceptional real estate opportunities waiting for the right investor.

The North End

The city’s gateway to nature, architecture, and art – The North End is Boise’s most historic neighborhood. It is merely walking distance from downtown Boise and offers quick access to the Boise Foothills. With a plethora of biking and hiking trails , the Camel’s Back Park, and beautifully crafted residences, visitors and residents alike adore the North End. On weekends, you can find most locals in the Hyde Park district for a taste of culture, community, and artisan foods. This is the neighborhood where you can have a cup of coffee on your front porch and watch the entire town slowly pass by on Saturday morning, as everyone in the valley is making their way to the parks, foothills and grabbing a world-famous, fresh baked english muffin or breakfast sandwich at Certified .

If you are looking to invest in prime real estate with extensive opportunities for passive income, consider these neighborhoods as excellent starting points. As always, contact us here at Boise Turnkey if you want to find the perfect investment without hassle or risk.

A Military Guide to Real Estate Investing and House Hacking

Wed, 08 Jun 2022 16:49:00 GMT

Investing in real estate can seem very intimidating for military members and families. Rental properties are not usually equipped to handle the short notice that many active members are accustomed to during their service, and on-base housing, while being more convenient, is more restricting in some areas. Buying a home frequently remains the best path for service members. What many military families don’t consider is how well suited their lifestyle and military benefits are to house hacking; that is, buying a home for themselves and leaving it behind as a rental when they move.

Why Home Ownership

One circumstance that is not often explored by military families but reaps incredible benefits is homeownership. Buying a home can be an excellent option to provide stability, flexibility, and profitable investment for your family. There are countless opportunities available to military families and active members to assist in this process, not to mention that your BAH can also be applied to your mortgage payments in many cases.

You can also receive government assistance when applying for loans or putting a down payment on a home in many situations.

Top 3 Resources For Buying A Home

Investment Tools

VA Loans

VA loans are easily the best loan option on the market, current active duty members and military families have a huge financial advantage in being able to use this tool to start an investment portfolio. These loans are incredibly powerful with no down payment, competitive interest rates, and relaxed credit requirements.

Perhaps the most significant benefit of VA loans is the ability to have multiple at the same time. VA loans are life-long benefits, and there is no limit to the number of loans members can have as long as there is remaining entitlement.

House Hacking

The military lifestyle’s short-term notice and constant moving can make homeownership a daunting endeavor. But investment strategies can allow military members and families to have a permanent home and create a passive stream of income simultaneously. “House Hacking” is a real estate investment strategy that allows members to buy a home for their personal use, then rent it out when they need to move. Part of what makes this such an incredible opportunity for active duty military and veterans is the ability to get owner-occupied terms on those initial loans, which carry over when you rent it out. There is no other option out there to buy an investment property with zero dollars down. Your return on your cash is literally infinite when this method is employed.

With VA loans offering zero down payment, there is no risk for buyers in the market. These investors will get infinite returns in the shape of appreciation, equity, and all cash flow from renting out the property without the need to put any of their own cash in to the deal.

Make It Happen

Whether you are choosing the best living situation for your family while on duty or looking to make highly profitable investments in real estate, these tips and resources will take you in the right direction. Boise TurnKey has several active duty military members on staff who have, and continue to use this exact investment method- we put our money where our mouth is and our team can walk you through the process step by step, having personal experience doing the same thing you are doing. As always, if you need any help finding the right investments, contact us here .

4 Reasons Why The Boise Housing Market Is Booming

Tue, 24 May 2022 20:40:00 GMT

Housing markets have been skyrocketing over the past few years, due to the unprecedented COVID-19 pandemic and rising inflation. Among these is Boise, Idaho. Consistently named one of the fastest-growing real estate markets in the country, Boise is booming. Here are four reasons why Boise real estate is an investment worth making:

Season of Migration

As supercharged inflation continues to threaten residents of the more expensive housing markets, expect a trend of migration to more affordable living in mid-sized metropolitan areas just like Boise. With remote work on the rise, it is easier than ever for people to jump ship and move across the country. And Boise is just such a destination.

Demand is High

Despite a nationwide housing inventory shortage, Boise is thriving. Houses are flying off the market, and a booming construction industry means even more developing land for investors. With a rapidly growing population, the population growth in Boise has outpaced inventory, driving continued equity growth for investors.

Income per Household

Boise’s household income has been skyrocketing over the years. The median household income in Boise is the second highest in the nation, and that number is likely to rise as high-earners continue to migrate there.

Boise Art and Nature

Boise, Idaho’s bustling capital, is known as the City of Trees. Home to numerous parks, Boise always provides easy access to nature. While the natural beauty of Boise appeals to its more adventurous residents, its fascinating art-filled culture brings a dynamic and exciting side to the city.

If you would like to learn more about the Boise housing market or how to get started with investing in the Boise area , don’t hesitate to contact us !

Spring Activities in Boise

Thu, 21 Apr 2022 17:40:00 GMT

It’s spring in Boise, so it’s time to get outside and enjoy everything our wonderful city offers! Here are some of the most popular and well-known outdoor spring activities.

Spring Activities: Hiking

Boise isn’t called the City of Trees for nothing! Here are some hikes and their length:

Spring Activities: Swimming

Take a dip in the local waters and hot springs! Here is a list of some popular ones:

More Spring Activities in Boise:

Check out these additional spring events to get the real Boise feel this season:

We love spring in our city, and we hope you do too! If you’re looking to buy a home this spring in Boise , contact us !

We Answer Your Investing Questions!

Tue, 05 Apr 2022 17:36:00 GMT

BiggerPockets is a website and community of investors and agents to help each with investment strategies and give advice. BoiseTurnkey has an account on BiggerPockets, and we wanted to share the valuable information Corby has shared with investors when answering their investing questions.

Investing Questions About Multiple Properties

Question : Currently, I have 2 houses unimproved and one fully remodeled and ready for the market. What should my strategy be?

Answer:

“ I’d get a consult from a realtor doing lots of business in your area – they should have a solid handle on comps and what is, or is NOT, necessary for you to maximize your net.”

Question : “I was hoping to get some feedback on my goals to see if it is realistic and any changes you would recommend.

Answer:

“ Welcome! I love the focus and how specific you are about your goals – you are much more organized than I have ever been!

You’ve asked a lot of questions, and you should, but I want to help you focus on a concept if you want to scale. Making the assumption that since you have $10-15K to start, you aren’t a high W2 wage earner. That gives you two options to start:

1. House hack locally with an FHA (MFH) or 5% conventional (SFH) – I know this is tough in Seattle, but it’s option #1, and you’ll get the best “jump start” by going this route.

2. Invest in higher cash flow areas like those you’ve mentioned above – BUT, the challenge is that unless you have the ability to save more down payments quickly, you won’t be able to scale in these markets. You’ll need to save another $20k or more every time you want to buy a new property.

People here on BP don’t really like hearing it, but if you don’t have a ton of cash and want to scale, you need to buy in growing areas that are rapidly appreciating. It’s the equity build-up that will help you buy more properties- cash flow won’t do it. If you find a market with reliable and aggressive appreciation and no rent controls, rents will rise aggressively, too – so excellent cash flow will follow, and you’ll be able to scale and ride the appreciation up as well.

Best of luck!”

Question : “I’m considering remotely self-managing 4 rentals and am seeking advice!”

Answer:

“Honestly- it’s not a good idea to try and manage remotely unless you have a full team set up of reliable contractors that know and trust you. Sure, the monthly savings is great until you have a problem. What if the tenant stops paying and doesn’t return your calls or emails? What if you get a call that the basement or crawl space is flooded? How do you vet contractors to know that they are actually doing the work that they are billing you for?

Search these pages, and they are full of people saving “big” money on property management, but they’re here begging for amatuer advice because they suddenly have a legal or financial problem that they have no idea how to handle (and most of the people on the boards here don’t either).

If you are local, you could probably make it work by getting referrals from friends and family for contractors, lawyers, etc. From a distance, a GOOD PM will be worth every penny when you actually need them.”

Investing Questions About Tenant

Question : I have a tenant who hasn’t paid rent, and the law in Oregon says if they applied for assistance, you can’t evict them for non-payment of rent. She has applied but hasn’t heard if it was approved or not. My dream home is available, and I got a pre-approval, and it’s under contract. Will the lending fall through because my tenant hasn’t paid, and the rental was factored into me qualifying for the new home?

Answer:

“You need to ask your lender – keep it hypothetical at first. Typically lenders want a copy of your lease and recent bank account statements – underwriters may or may not try to match up deposits with your leases.

That said – here in Idaho, we have applied for assistance on behalf of our tenants on more than one occasion, and the process has been really swift and simple. You might reach out to whoever is distributing those funds locally and ask about your tenant’s application. I don’t see why they wouldn’t share details and the timeline with you.”

Investing Questions About Buying Property

Question : “Are you buying off of the MLS?”

Answer:

“Absolutely. Deals come from all kinds of places. It’s silly for people to say that you HAVE to buy off-market; that shuts new investors down immediately. I’ve bought most of my portfolio off of the MLS.

95% of transactions happen on the MLS. It’s ridiculous to think every one of those is a bad deal.”

Question : “How would you recommend finding/marketing to the right buyer in this situation?”

Answer :

“Great question! I am sure your market has a few investor pages – you can start by just posting there and saying that you are working on bird-dogging and want contact for anyone interested in off-market deals – you’ll get lots of responses, mostly tire kickers, but some legit buyers.

The page in my market has tons of real investors and wholesalers selling their deals on the FB page pretty regularly.

Don’t forget to get out to some REI meetings and network!

That said, learn your market and negotiate good deals – if you do that, they’ll sell, no problem.”

Question : “How to gain traction in real estate?”

Answer : “Focus on one specific thing – investors or first-time home buyers, 1031 exchanges- market yourself and become an expert in that one thing. Every realtor loves to say they’re an expert in everything, and then they don’t do any transactions.”

Question : “Finding a great deal or building a cash buyers list?”

Answer : “This is a common concern for new wholesalers. The reality is, you don’t need a buyers list if you find GREAT deals. They’ll be knocking on your door, begging for more. Most wholesalers try to sell crappy deals, and they think the problem is their list – it’s not. Great deals sell themselves, and you’ll build relationships from there.”

If you need help investing in the Boise area, don’t hesitate to reach out to us and read our resources for investors here ! Read more of Corby’s responses here .

4 Common Misconceptions About 1031 Exchanges

Fri, 25 Mar 2022 16:53:00 GMT

A 1031 tax-deferred exchange is used by real estate investors when they want to defer paying capital gains on one investment property when almost immediately purchasing another like-kind property. There are many benefits to a 1031 exchange, and they’re much simpler than most people think. We will make it even simpler and cover four common misconceptions about 1031 exchanges!

Common Misconception #1. Tax-deferred doesn’t mean tax-free.

This is a big common misconception, and it’s wrong! A 1031 exchange does not mean tax-free gains. Instead, it allows you to postpone paying tax on gains earned from selling an investment property then using those funds to buy a similar property. In this context, a similar property is the same in nature or character. It means the new property has to have the same purpose as the last property. For example, you can sell farmland that you rent and use the proceeds to buy an apartment building. Both properties produce income, so they’re considered similar or like-kind.

2. I can do it by myself.

With anything related to real estate, you need a real estate professional to help you be successful! At Boise Turnkey Properties, we specialize in real estate investing and are investors ourselves, so we “walk the investment talk”! We’re uniquely positioned to guide new and seasoned investors on their 1031 exchange journey. We even go a step further to make this journey pain-free by partnering with a local 1031-exchange provider to ensure a stress-free process for our investor clients!

3. There’s only one type of 1031 exchange.

There are several types of 1031 exchanges ! The delayed 1031 exchange is the most common type and is called a 1031 exchange, but there are other types too. There’s a reverse 1031 exchange that allows the investor to buy the new property first, then sell the second property at a later date. There’s also a build-to-suit 1031 exchange used by real estate investors building a property or renovating a current property. Depending on your investing goals, your 1031 exchange type can be either of those. We can help you pick the right one for your investment property!

4. The titles can have different names.

This is wrong! This misconception is a crucial requirement if you want to receive the tax deferment! Whether a business or personal, the taxpayer needs to have the same name that’s buying the new property. To be even more specific, it does include spouses. If only one spouse was listed on the old property and the other spouse is added on the new property, it can disqualify the property.

Contact our team at Boise Turnkey Properties today if you’re a real estate investor looking to explore creative solutions to defer capital gains taxes. Call us today at (208) 957-0870, email us at corby@boiseturnkey.com, or fill out the form below. We would be honored to personally help you through the 1031 exchange process.

5 Resources to Finance Your Renovations

Mon, 21 Mar 2022 19:20:00 GMT

If you’re looking to improve your Boise home’s value to get the top value before selling, it might cost you a couple of hundreds to thousands of dollars. If you need help financing your renovations , check out these five resources.

HELOC

A Home Equity Line of Credit (HELOC) is an option homeowners and investors can apply for. It works like a line of credit as it’s similar in the sense that you withdraw funds and then pay back the borrowed amount with interest in monthly installments. HELOCs have two terms:

This is an appealing option for homeowners and investors since it’s flexible and typically has low closing costs and monthly payments.

Home Equity Loans

If your home renovation requires a lot of money, or you need the sum in advance, a home equity loan is a good option. A home equity loan will provide you with the full amount upfront. The equity in the home is where the funds come from, which is why homeowners need a minimum of 20% equity in their home. It’s used as collateral by the lender when you apply for the loan. The benefits of this loan are easy to obtain, fixed interest rates, lower closing costs than cash-out refinancing, and when they’re used for renovations, they’re tax-deductible. The loan is similar to having a second mortgage because you’ll have monthly payments, and if you fall behind, the lender can foreclose on your home.

Cash-Out Refinancing

Cash-out refinancing is similar to home equity loans because you’ll also tap into your home’s equity. When there are low-interest rates, this is a good option. And interest rates are low, but they’re not expected to stay low! Many experts predict the mortgage rates to rise this year. Now would be the time to refinance your mortgage and keep the difference between the old and new loans, also called cash-out refinancing. Since home equity loans and cash-out refinancing are similar, it’ll depend on your home goals that will help you make the best choice.

Credit Cards

If you don’t want to mess with the equity you have in your home, then a credit card is a good external option. It’s also a good choice for smaller renovation projects. Applying for a credit card is simple and almost instantaneous. As another added bonus, opening a new line of credit and making on-time payments can increase your credit score. The downside to credit cards is their high-interest rates and late payment effects like late fees and penalty APRs.

Government-Backed Loans

The last option is government-backed loans through the Federal Housing Administration. One option is a Title 1 loan that can be used for home renovations and repairs and buying new appliances. The other option is a FHA 203K loan. This is also used for repairs, but can even extend to buying a home that needs renovations. These two options don’t require homeowners and investors to have equity in their property and could be the best option if they have a low credit score.

If you need help renovating your home , or choosing renovations to increase your home value , contact us ! Call us today at (208) 957-0870, email us at corby@boiseturnkey.com .

How To Buy A Home Virtually in 2022

Fri, 18 Feb 2022 17:42:00 GMT

Two-thirds of homes were bought unseen in 2020, meaning the buyers did not tour the physical property before purchasing. In the pandemic and even last year, this was a common and now popular choice. If you’re considering buying a home virtually this year, here are some tips to be successful in your home buying journey!

Know your needs and wants

Decide early on before virtually touring homes what is a necessity and what would be a nice luxury. Assess features like how many bedrooms, the layout, appliances, flooring, etc., for what is a need and what is a want. This list of the necessities will help you weed out potential homes and make the search faster. Check out our free report “ How to Spot a Home with Investment Potential .”

Choose your agent wisely

Not all agents work virtually, but we do ! We know how to handle the technology, virtual tours and closings, and all things virtual real estate. We know that working virtually may require more guidance, so we would be happy to help you find your dream home! Contact us today so you can make sure we’re the right fit for you.

Download Facetime, Skype, or Zoom

If you’re not touring a home in person, you’ll need to tour it via live video or video call. While prerecorded video tours are convenient, a live showing will allow for more interaction. The benefits of a live showing are taking your time, asking questions, and even requesting more attention to certain areas.

Ask the right questions

By touring virtually, there are some things you can’t see, so you have to ask the right questions instead. Some questions to ask are about the condition of items and the natural lighting. You want to get as specific as possible so you know if this is the house for you. Your REALTOR® can help as well since they can go to the property and report the things that can’t be seen, felt, or heard, like the surrounding area, traffic, or other noise.

Do your research

Don’t forget to research the area! A great strategy is to use Google Street View to “walk” the neighborhood. It’s also smart to check the local county’s website for property records, as it will tell you the property history and background.

Contact us today if you’re ready to buy a home virtually! Call us today at (208) 957-0870, email us at corby@boiseturnkey.com, or fill out the form below.

Tax Benefits When You Invest in Boise Real Estate

Fri, 04 Feb 2022 18:12:00 GMT

Real estate is one of the more popular investing strategies due to its historically predictable nature and ability to maintain value over generations. Even when the market is down, it’s still wise to own property because the market will eventually change and return in the investor’s favor. Real estate investing gives one of the highest returns on investment compared to bonds, stocks, or other investment strategies. Another benefit to real estate investing is the tax benefits. Here are some of the tax benefits when investing in Boise real estate.

Tax Benefits #1: Deductions

Deductions are the most significant tax benefit for real estate investors. As a Boise real estate investor, you can deduct specific expenses associated with the investment property. Standard deductions include property tax, mortgage interest, insurance, management fees, and repairs and maintenance. You can also write off expenses that don’t add value to the property but maintain its good condition. Boise real estate investors can even deduct a mortgage on their primary or secondary residence and apply it to home purchases or home equity loans.

#2: Depreciation

When the market isn’t working in your favor, annual tax deductions help you recover the cost. Depreciation is subtracting a property’s loss in value over its expected lifespan. Residential properties have a lifespan of 27.5 years. The amount of depreciation you’re allowed to deduct is calculated by the value of your property, the recovery period, and the applied depreciation method.

For example, if you bought a rental property for $400,000, your annual depreciation deduction is $14,545 ($400,000 / 27.5 year). You can also depreciate certain expenses like a roof or HVAC replacement after a certain amount of time. Boise real estate investors can add those additions to the total amount of depreciation to your annual tax deductions.

Tax Benefits #3: Capital Gains

Capital gains are the opposite of depreciation. It’s the profits Boise real estate investors make when they sell their property. There are two types of capital gains: short-term and long-term. Both types have different tax rates and benefits.

Short-term gains reference a property that’s been owned for under one year. There are no special tax benefits for short-term gains. Long-term gains are for properties that have been held for over a year. Long-term properties are usually rental properties, offering a lower tax rate.

#4: 1031 Exchanges

Also known as the best-kept secret in the U.S. tax code, a 1031 Tax-Deferred Exchange is leveraged to defer paying capital gains on one investment property when an investor almost immediately repurchases another like-kind property. While the name may make the process sound complicated, 1031 exchanges are much simpler than most people think. And in Boise, 1031 exchanges are favored, which is why it’s wise to invest in Boise real estate.

Because we specialize in real estate investing and are investors ourselves (and our clients love that we “walk the investment talk”), Boise Turnkey Properties is uniquely positioned to guide new and seasoned investors on their 1031 exchange journeys. But, we take it a step further–1031 exchanges are specialized, so our team at Boise Turnkey Properties partners with a local 1031 exchange provider to ensure that the process is smooth and stress-free for our investor clients.

We would be honored to personally welcome you to one of the most landlord-friendly states in the nation. If you’re ready to take advantage of these amazing tax benefits as a Boise real estate investor, contact our team at Boise Turnkey Properties today! Call us today at (208) 957-0870, email us at corby@boiseturnkey.com, or fill out the form below.

**Please check with your favorite tax professional who understands your particular portfolio.

Types of 1031 Exchanges

Mon, 24 Jan 2022 23:58:00 GMT

We’ve covered what a 1031 is, along with its benefits , requirements , and timeline . Now we’re going to cover the different types of 1031 exchanges. For those who need a refresher, a 1031 exchange lets an investor defer paying capital gains on one investment property when the investor purchases a like-kind property. Here are the three most common types real estate investors use.

Delayed 1031 Exchanges

A delayed 1031 exchange is the most common type, commonly called a 1031 exchange. This means the real estate investor sells his old property before purchasing a new one. Once the property is sold, the investor must identify one or more replacement properties within 45 days of the sale and close on the replacement property within 180 days. This is the 1031 exchange we talk about the most.

Reverse 1031 Exchanges

At Boise Turnkey Properties, we also guide our clients through what’s called a ”Reverse 1031 Exchange” that allows our investors to buy their new property first, then sell a subject property at a later date. The investor purchases the replacement property before selling the other property in this exchange.

While this step is out of order compared to a delayed 1031 exchange, it still follows the same timeline and guidelines mentioned above. But instead of having 180 days to close on a new property, the investor has 180 days to sell the old property for equal or lesser value of the replacement property. It still follows the exact requirement in that both properties must be like-kind.

The most significant change with this exchange is the requirement of an exchange accommodation titleholder or EAT. The investor will choose an EAT to hold the title of the new property throughout selling and closing on the old property. The investor and the EAT create a Qualified Exchange Accommodation Agreement (QEAA) to outline the terms of the exchange. This 1031 also requires a Qualified Intermediary (QI) who will transfer the title of the old property to the new property buyer. Later, they will transfer the title from the EAT to the investor.

This type of exchange allows an investor to purchase a property before selling the old property. This process and exchange gives the investor more time and flexibility, and control over the sale of the old property.

Build-to-Suit 1031 Exchanges

A build-to-suit 1031 exchange is used by real estate investors building a property or renovating a current property. The timeline and rules are similar to that of a delayed 1031 exchange. This exchange will also require an EAT and QI like the reverse exchange. Build-to-suit exchanges can be structured like a delayed exchange where the old property is sold before the new one is bought, or like a reverse exchange when the replacement property is purchased first, then the old one is sold.

This exchange can be stressful, though, because if construction and renovations are not complete within the 180 days of closing on the old property, the uncompleted portion of the project would be considered taxable by the IRS and cannot qualify for the exchange.

How To Get Passive Income Through Real Estate Investing in Boise

Tue, 18 Jan 2022 23:31:00 GMT

There are two types of investors in the investing world: active and passive. An active investor owns investments and manages the properties, finds tenants, hires professionals for repairs and projects, and collects rent. With all those tasks, it’s likely to be a full-time job. A passive investor doesn’t require as many intense and repetitive tasks as an active investor. Instead, they fund the investment then outsource for the property tasks. If you want to be a passive real estate investor, here’s how to get passive income through real estate investing in Boise .

Step 1: Assess Your Finances

The first step is doing a financial analysis of what you have saved and still need to save. This is the time to budget out how much investing will cost you. What’s the maximum amount you can pay for a house? Are you paying in all cash or taking out a loan? How much of a down payment will you put down? Do you have enough saved for emergencies? Do you want to buy a property that’s move-in ready or do you want to remodel? All of these are crucial questions to ask yourself before making a big financial purchase like investing in property.

Step 2: Create Your Goals for Real Estate Investing

Now that you’re financially stable or have a path planned out for it, you can move forward to your goals. With passive income, it usually implies the property will be a long-term investment so create goals that match the long term. Will the property be used for short-term or long-term rentals? When do you want to pay off the mortgage? Or if it’s already paid off because you paid all cash for the property, how much money do you want to make off the property in one year, three, five, and ten? All these questions are S.M.A.R.T goals: specific, measurable, attainable, realistic, and time-bound.

Step 3: Hire A REALTOR® for Real Estate Investing

Now that you’re clear on your finances and goals, you can look for properties . The most effective use of your time and money is to hire a REALTOR® and one familiar with buying investment properties for clients. At Boise Turnkey Properties , we work with each investor individually to find properties that meet their criteria and negotiate a great deal on their behalf. This means doing the research on the location, price, area surrounding the location, and more.

Step 4: Hire A Property Management Company

Once you close on the property, it’s time to turn that investment into a profit. The quickest way to do that is by hiring a property management company. The company will market your property, find tenants, maintain the property, collect rent, etc. A benefit of working with Boise Turkey is having access to our sister company, CohesionProperties.com , which will screen, place, and manage high-quality tenants for you.

If you’re ready to make some passive income and get into the Boise real estate investing industry, contact us! We make investing fun, attainable, and easy. Call (208) 957-0870 or email Info@BoiseTurnkey.com.

Why Should You Invest in Boise in 2022?

Fri, 17 Dec 2021 16:41:00 GMT

It was only a few weeks back when we wrote about Boise being one of the hottest real estate markets in the U.S. in 2021, so it’s no surprise the title is carrying on into 2022. Another data list was recently released to share the hottest U.S. cities for buying and selling homes in 2022. Boise ranked #2, and we’re about to share why and why you should invest in Boise!

Invest in the Expected Growth

The researching company combined forecasted sales and price growth to find Boise’s percentage. It’s almost 13% 8% in sales and price growth that is expected for 2022. Sales and price isn’t the only growth Boise is expected to see next year. Data from the U.S. Census confirmed Idaho is the second-fastest growing state, and Boise is the center of the activity.

Invest in the Median Sales Price

The median sales price in Boise has increased in Ada County since the pandemic. The median sales price moved over the $400,000-range for the first time in August of 2020. Last August was also when 40% of homes sold over list price. In May of 2021, 65% of homes sold for over the $400,000 range, and the price exceeded the $500,000 mark.

Hottest Housing Market in the U.S

In our past blog , Boise ranked number one due to the large increases in six-month pricing, one-year pricing, and five-year pricing. Another report found that Boise is a popular location for out-of-state buyers as 73% of Redfin users search for homes in Boise while currently living outside of its metro area.

Another study found that out-of-town homebuyers moving to Boise spend more on average homes. Homebuyers paid an average of 2% above the asking price during the pandemic while locals paid 0.2% below the asking price. This is a difference of over $10,000 as migrants moving to Boise paid $448,000 versus $439,250 by locals. It also found that migrants have a larger median down payment compared to locals.

Why Boise for 2022?

All this data isn’t a massive surprise since Boise is constantly praised for its affordability, strong job market, and great cultural scene. It also has a low unemployment rate of just 3%. Plus, the Boise area is popular and appealing to investors, landlords , and homeowners due to the landlord-friendly laws , low property taxes, low cost, and increased job growth.

If you’re ready to own property in our wonderful city or take advantage of the investment opportunities in Boise next year, contact us ! Call (208) 957-0870 or email Info@BoiseTurnkey.com. We’d be happy to start and guide you through your Boise investing journey.

7 Warning Signs to Look for When Buying a Home in Boise

Tue, 07 Dec 2021 16:57:00 GMT

Buying a home is a substantial financial investment, whether you’re an investor or a homebuyer, so you want to make sure you buy the right one! Here are some warning signs to look for when buying a home in Boise.

7 Warning Signs to Look for in a Home

1. Lots of Neighborhood Sales

If the home you’re looking at has a lot of homes for sale in the neighborhood, that’s something to investigate. Are people relocating due to the area, or is it just regular migration due to jobs, school, etc.? Are people selling for a specific reason, like a new construction project moving in or something else you’re unaware of? While it could mean you get a home at a lower cost, you could have future problems, which is why research is essential when looking to buy property!

2. Cracks in the Foundation

Foundation cracks can become a problem and structural hazard. Some cracks in the foundation are expected since some can occur naturally when the foundation sets over time. Warning signs include doors and windows that won’t open or close properly, cracks wider than half an inch, and vertical cracks going up to the windows.

3.Roof Problems

The roof is the second most expensive home repair after the foundation. When you view a house, keep an eye out for missing or damaged shingles, mold on the exterior wall, rusted gutters, loose or missing flashing, and even sagging ceilings in extreme cases. Without a proper roof, water will enter the home, and it can cause water damage and mold.

4. Dated HVAC

Your HVAC is your Heating, Ventilation, and Air Conditioning system. If an HVAC is older than 15 years, it might need to be replaced soon and that can cost thousands of dollars. Have your REALTOR® ask the seller’s agent about the age of the HVAC and to see its warranty paperwork, if available. You can also purchase a separate home warranty that may cover some of the cost to replace the HVAC if it breaks after closing.

5. Uneven Floors

If you spot uneven floors, it could be a sign of foundation problems. It could also mean water or pest damage. When touring the house, look for warning signs like any dips and squeaks. Check to see if the floorboards shrink away from the wall when you step on them. The easiest way to see if the floors are uneven (and most fun, in our opinion) is to place a marble or golf ball on the floor and see if it rolls anywhere, which will tell you where the floors are sagging.

6. DIY Upgrades

While most people love a successful DIY home project, it can lead to trouble later on, especially when it comes to plumbing or electrical work. You’ll also want to check that lights are working and there aren’t any unsafe wall outlets or switches that don’t do anything. Also, check the plumbing by filling the sink and seeing how long it takes to drain. Another warning sign of a troublesome DIY is a room or space that feels out of place, like a conservatory or sunroom in what used to be a garage. It can sometimes mean the work was done without a permit and might pose a risk.

7. Seller Not Wanting An Inspection

As a buyer, you can ALWAYS get an inspection, no matter what the seller says. So it’s an enormous red flag if the seller objects or negotiates out of doing an inspection. If the property is being sold in good faith, a seller shouldn’t worry about an inspection. While an inspection may cost a couple of hundreds of dollars, it will save you money in the long run, especially if it catches some of the more expensive problems we discussed, like foundation, roof problems, electrical, plumbing, etc.

Contact us if you need help navigating this housing market as a homebuyer or investor! Call (208) 957-0870 or email Info@BoiseTurnkey.com. We’d be happy to start and guide you through your Boise homebuying journey.

How To Do an IRS 1031 Exchange

Mon, 22 Nov 2021 16:25:00 GMT

Also known as the best-kept secret in the U.S. tax code, a 1031 Tax-Deferred Exchange is leveraged to defer paying capital gains on one investment property when an investor replaces the property with another like-kind property. While it may sound like a complicated process, 1031 exchanges are much simpler than most people think. Here is how to do an IRS 1031 exchange.

Why Do an IRS 1031 Exchange?

An IRS 1031 Exchange is great for investors because it allows them to roll their equity from one property to another by delaying paying capital gains. It’s a proven way to build-long term wealth.

Boise is an excellent location for a 1031 exchange because our wonderful state is one of the most landlord-friendly states in the county. There is also a high-quality, long-term tenant base, low evictions, vacancy far below the national average, and virtually no regulations about how an investor can conduct business. Read about how landlord-friendly Idaho is from our past blog here .

How To #1: IRS 1031 Exchange Requirements

The IRS requires that the new property must be of the same kind as the old one by “the same nature or character.” This means they must be used for the same purpose, an excellent option for investors! Like-kind means the property has the same nature, character, OR classification as the old property. A “like kind” property could simply mean that both the property you sell and the property to buy are producing income. They don’t have to be the same type of property. For instance, you could sell farm land that you rent for others to work and use the proceeds to buy an apartment building. They could be considered alike simply because they both produce income.

The next requirement is the new property must be of equal or greater value than the old property. The critical thing to note here is it applies to mortgages too. So, both the value of the property and the mortgage on the property you’re buying must be equal or greater than the value and mortgage of the property you’re selling.

The following requirement, and hopefully obvious, is both properties need to be sold and bought by the same party or taxpayer. If the names are different, it will immediately invalidate the exchange. Read about all the requirements on our past blog, “IRS 1031 Exchange Requirements”, here .

How To #2: 1031 Exchange Timelines

Once you sell the old property, you have 45 days to choose three potential replacement properties. There are three methods of finding a strong replacement property: 3 properties, 200% rule, or 95% exception. Read about each specific strategy on our “IRS 1031 Exchange Timeline” blog here . By day 180 of selling the previous property, you must complete the exchange to receive a 100% of the tax deferment.

If you’re a real estate investor wanting to defer capital gains taxes, contact our team at Boise Turnkey Properties today. We would be honored to help you through the 1031 exchange process personally. Call us today at (208) 957-0870, email us at info@boiseturnkey.com, or fill out the form below.

IRS 1031 Exchange Timeline

Wed, 22 Sep 2021 21:07:00 GMT

We’ve explained what a 1031 exchange is , how it works, the requirements , and the benefits . The last piece you need before you’re fully informed is the 1031 exchange timeline. We mentioned it briefly in our previous blog, but we’re going to expand on it.

Day 1 of the 1031 Exchange Timeline

The 1031 exchange timeline begins on the day you close on the sale of your property. From day 1, you have 45 days to identify three potential replacement properties. These have to be like-kind like we mentioned in our last blog. This means they must have the same nature, characteristics, or class. This requirement has some freedom since the property has to fit only one of the nature, characteristic, or class qualifications. See examples in our last blog here . And from close, you have 180 days to complete the purchase of a new property to qualify for a 100% tax deferment.

Day 45

By day 45 of the 1031 exchange timeline, you should have three like-kind properties in mind. You don’t have to choose one right now, but you do need three strong candidates. If you change your mind later and don’t choose one of the original three candidates, you’ll incur capital gains tax and void the exchange. This is why you must select your three potential properties wisely.

Here are three methods for finding strong replacement properties are:

You can choose three potential replacement properties without having to take into consideration their market value. This is related to #2

There is one exception to this rule. It’s called the 200% rule. If you cannot decide between just three properties, you can choose additional candidates. The rule is that the total value of the replacement candidates must not exceed 200% of the value of the original property you sold.

The last method is also the most confusing. When more than three properties are selected, it will not count as a replacement property was selected. BUT, this does not apply to any replacement property selected BEFORE the end of the 45-day selection period or before the end of the exchange period if the property is worth at least 95% of the market value of all the other identified replacement properties. See what I mean about confusing?

Now that you have your candidates, the remaining 135 days are meant for finalizing the purchase of the new property.

Day 180

Once you hit the 180-day mark, the transaction needs to be completed in order to qualify for 100% tax deferment. The 180 days include federal holidays and weekends, so it will be exactly 180 days. Following this timeline is a requirement to qualify and receive a 100% tax deferment. It’s also important to consult your tax professional who understands the totality of your financial picture.

If you need help planning out your 1031 exchange, we would be honored to help you through the 1031 exchange process personally. Call us today at (208) 957-0870, email us at corby@boiseturnkey.com, or fill out the form below.

IRS 1031 Exchange Requirements

Wed, 08 Sep 2021 21:02:00 GMT

We know how popular our 1031 Exchange blogs are, so we’re providing you with more information! In this blog, we’ll cover the requirements and rules needed to make a 1031 exchange work.

1031 Exchange Requirement #1: Like-Kind Property

The IRS specifies that the property must be of like-kind by “the same nature or character, even if they differ in grade or quality.” The properties must be used for the same purpose. This is great if you’re an investor since two investment properties will be considered like-kind.

Like-kind property is defined as property that has the same nature, character, or class. So this means you can exchange a small office building for a small apartment complex, vacant land, or a larger office building. This is possible because they only need to share one of the same, whether that’s nature, character, OR class. So there’s some freedom with this requirement and it is more flexible than you might imagine.

Another requirement is the property needs to be of equal or greater value for the property you’re purchasing. Remember that this applies to the mortgage as well, so both the value of the property and the mortgage on the property you’re buying must be equal or greater than the value and mortgage of the property you’re selling. If you sell a property for $750,000 with a $500,000 mortgage and buy another for $810,000 with a $650,000 mortgage, this exchange qualifies. What doesn’t qualify is if you sell the property for $750,000 with a $500,000 mortgage, and you buy another for $650,000 or $750,000 with a $450,000 mortgage.

1031 Exchange Requirement #2: Same Taxpayer & Purpose

Both properties that are sold and bought need to be purchased by the same party or same taxpayer. If the names are different on the sale property and the exchange property, it will be invalid.

Both properties have to be investment or business properties to fit the 1031 exchange requirement . It means you can’t sell a personal residence to purchase an investment property. This works both ways, so you also can’t sell an investment or business property to buy personal property.

1031 Exchange Requirement #3: Follow the Timeline

The day you close on the sale of the first property is the beginning of the process. Once started, you have 45 days to choose three potential replacement properties. They must fit the 1031 exchange requirement by being a like-kind property, as mentioned in requirement #1. By day 180, the property should be sold, and the exchange completed to receive the 100% tax deferment.

While it’s important to consult your tax professional who understands the totality of your financial picture, if you’re a real estate investor wanting to defer capital gains taxes, contact our team at Boise Turnkey Properties today. We would be honored to help you through the 1031 exchange process personally. Call us today at (208) 957-0870, email us at corby@boiseturnkey.com, or fill out the form below.

1031 Tax-Deferred Exchange Benefits for Real Estate Investors in Boise, Idaho

Mon, 30 Aug 2021 17:42:00 GMT

If you haven’t heard about it from us already, a 1031 Tax-Deferred Exchange will become your best friend as a real estate investor! This section of the IRS allows real estate investors to sell their property to use the profits to purchase another property of equal or greater value. This exchange means you can defer paying taxes on your profits indefinitely. There are many additional ways to leverage a 1031 and receive the 1031 tax-deferred exchange benefits.

Idaho is a real estate investor’s dream because it is easy to leverage a 1031 exchange. We’ll cover why 1031 exchanges are so prevalent in our area.

1031 Tax-Deferred Exchange Benefits

#1: Idaho Is a Landlord Friendly State

We discussed here how Idaho is a landlord-friendly state. The Boise area has a high-quality, long-term tenant base, with evictions being a rare case. In recent years, vacancies have been below 1%. Lastly, Idaho has no laws regarding how an investor can conduct business. There are no rent controls, no random code violation inspections, and no government intrusion. Idaho is one of the most, if not THE most, landlord-friendly state in the country.

Benefit #2: Continue to Roll Equity from Property to Property

A “Reverse 1031 Exchange” allows investors to buy their new property first and then sell it later. This is a massive benefit to out-of-state investors wanting to move their properties, sale profits, and equity to Boise since the reverse 1031 exchange delays paying capital gain indefinitely. One of the most beneficial aspects of reverse exchange is that you eliminate the stress of having to purchase under a specific timeline that occurs when utilizing a traditional 1031 exchange.

Boise Turnkey specializes in real estate investing because we are investors ourselves. We are uniquely positioned to guide new and seasoned Boise investors through their 1031 exchange journeys. But, we take it a step further–1031 exchanges are specialized, so our team at Boise Turnkey Properties partners with a local 1031 exchange provider, or “intermediary,” to ensure that the process is smooth and stress-free for our investor clients.

At Boise Turnkey Properties, we guide our clients in both 1031 exchanges and would love to help guide you! Contact our team at Boise Turnkey Properties today. We would be honored to help you through the 1031 exchange process personally. Call us today at (208) 957-0870 or email us at info@boiseturnkey.com.

Is Idaho a Landlord Friendly State?

Thu, 12 Aug 2021 21:15:00 GMT

When choosing to invest in property, location is paramount! Location of the property in relation to businesses, entertainment, and schools, and the state it’s in. We’ll cover how Idaho is a landlord friendly state and what makes it landlord friendly.

What Does Landlord Friendly Mean?

A state defined as landlord friendly will have specific qualities that favor landlords like laws, no rent control, low price of entry, low property taxes, low unemployment or high job property, and in-migration. Here’s how each of these qualities work in Idaho . Idaho also has few limits on fees and other charges like security deposits.

Landlord Friendly Laws

In Idaho, the law doesn’t limit how much a landlord can charge a tenant. A landlord will still have to follow state and federal laws for a cap on residential units’ security deposits. Once agreed upon between the tenant and landlord, Idaho law dictates that a landlord reimburses a deposit within 30 days after the tenant has vacated. If both parties haven’t agreed and the tenant left, it’s up to 21 days.

Idaho law is explicit about when a landlord can terminate a rental agreement. There are three types of eviction notices in the state. One of them is an unconditional 3-day quit notice. Tenants have three days to cure the violation. If they don’t, the property owner can file an eviction hearing. A landlord can also give an eviction notice if the tenant has substantially damaged the property, violates a clause in the lease, is dealing drugs, etc.

Idaho law has no rent control laws. It does explain that your lease should include how tenants should pay rent, when it’s due, the amount due, and the number of extra fees if the rent check bounces. A landlord must give a 30-day written notice if there are any changes in a month-to-month agreement.

Low Price of Entry

Idaho is booming now, which makes it the perfect time to buy property! Buy property while prices are still low to make a profitable rental property.

Low Property Taxes

Idaho has a property tax rate of 0.72%. This percentage makes Idaho the ninth-lowest in property taxes in the United States!

Job Growth

More people are relocating to Idaho and sometimes for work, causing the home prices to increase. Jobs in Idaho are expected to grow 1.5% annually through 2022. That growth outpaces the national economy. The 2021 U.S. News Best States gave Idaho No. 1 for economic growth. It also ranked high for its business environment, growth, and employment.

In-Migration

More people are moving to Idaho than people are leaving. According to the latest Census data, Idaho’s population grew by almost 17% between 2010 and 2020. In the past year, the population increased by more than 2%, making it the largest net migration of any state in the country! This creates demand for property and homes for the new residents.

If you’re ready to own property in this landlord-friendly state, contact us ! Call (208) 957-0870 or email Info@BoiseTurnkey.com . We’d be happy to start and guide you through your Boise investing journey.

What’s a 1031 Tax-Deferred Exchange and How Does It Benefit Real Estate Investors?

Tue, 20 Jul 2021 09:42:00 GMT

It’s known as the best-kept secret in the U.S. tax code: a 1031 Tax-Deferred Exchange . It’s a secret because can be leveraged to defer paying capital gains on an investment property. But only when an investor almost immediately repurchases another, like-kind property. While the name may make the process sound complicated, 1031 exchanges are much simpler than they sound.

Because of the 1031 exchange, investors can continue to roll their equity from property to property and delay paying capital gains indefinitely. This is a huge win for investors, and it’s a proven way to build long-term wealth.

Different states have different laws, and Idaho is one of the most favorable states to leverage a 1031 exchange. The biggest driver is the fact that Idaho is one of the most landlord-friendly states in the country. We also have a high-quality, long-term tenant base where evictions are rare, and vacancy rates are below 1%. Plus there are very few regulations regarding how an investor can conduct business as a landlord. Such as no rent controls, no random code violation inspections, and no government intrusion.

Boise Turnkey Properties is uniquely positioned to guide new and seasoned investors on their 1031 exchange journeys. Because we specialize in real estate investing and are investors ourselves. Our clients love that we “walk the investment talk”. But, we take it a step further!Our team at Boise Turnkey Properties partners with a local 1031 exchange provider to ensure that the process smooth and stress-free for our investor clients.

If you’re considering investing in real estate or expanding your portfolio, contact our team at Boise Turnkey Properties today. We would be honored to assist you with a 1031 Tax-Deferred Exchange personally. Call us today at (208) 957-0870 or email us at corby@boiseturnkey.com.

1031 Tax-Deferred Exchange Benefits for Out-of-State Real Estate Investors in Boise, Idaho

Tue, 13 Jul 2021 17:23:00 GMT

Also known as the best-kept secret in the U.S. tax code, a 1031 Tax-Deferred Exchange is beneficial for leveraged to defer paying capital gains on one investment property when an investor almost immediately repurchases another like-kind property.

1031 Tax-Deferred Exchange in Boise, Idaho

If you’re already investing in real estate, you know this. But did you know that 1031 exchanges are more favorable in some states? It’s true, and Boise , Idaho is an investor’s dream when it comes to this type of transaction. Let’s take a closer look at why 1031 exchanges are so popular in Idaho.

In Boise, the biggest driver for engaging in a 1031 exchange is that Idaho is one of the most landlord-friendly states in the country. We also have a high-quality, long-term tenant base. In our base, evictions are rare, vacancy rates are below 1%. There are very few regulations regarding how an investor can conduct business as a landlord. For example, no rent controls, no random code violation inspections, and no government intrusion.

Additionally, Limited Liability Companies (LLCs; commonly used to take title in real estate transactions) are incredibly inexpensive. In fact, they only incur a one-time $100 fee with no renewal fees.

Out-of-State Real Estate Investors

It’s especially advantageous for out-of-state real estate investors to move their properties, profits from a sale, and equity to Boise, Idaho. By leveraging a 1031, out-of-state investors are able to continue to roll their equity from property to property and delay paying capital gains indefinitely. We also guide our investor clients through what’s called a ”Reverse 1031 Exchange”. This allows our clients to buy their new property first, then sell a subject property at a later date.

Boise Turnkey Properties is uniquely positioned to guide new and seasoned investors on their 1031 exchange journeys. This is because we specialize in real estate investing and are investors ourselves (and our clients love that we “walk the investment talk”). But, we take it a step further! 1031 exchanges are specialized, so our team at Boise Turnkey Properties partners with a local 1031 exchange provider. This relationship ensures that the process smooth and stress-free for our investor clients.

If you have out-of-state investments and are looking to move your portfolio, profits, and equity to Idaho tax-free, contact our team at Boise Turnkey Properties today. We would be honored to personally welcome you to one of the most landlord-friendly states in the nation. Call us today at (208) 957-0870 or email us at corby@boiseturnkey.com.

“House Hacking” – What Is It and How You Can Do It

Thu, 24 Jun 2021 20:34:00 GMT

If you’re just getting started in real estate investing, “house hacking” is a great strategy. House hacking means you buy a property and live in it with the intention of leaving it as a rental at some point. This is most common with Federal Housing Administration loans as they require the buyer to live in the property for at least a year. At Boise Turnkey, we do a few deals a year with new investors using FHA and VA loans to turn the property into a rental later on. Here’s how you can do it too!

What is House Hacking

House hacking can come in two forms. You are purchasing a single-family home and living in it for a year to meet the FHA loan qualification. Once the year is completed, then you can turn it into a rental property. The second option is to purchase a multi-unit property and have your tenants pay for your housing expenses. Essentially, you get to live there for free! This can look like buying a duplex or triplex. This is an excellent option for investors interested in becoming landlords as you’ll get the hands-on experience it requires.

The Benefits

As an owner-occupant, you’ll get better financing terms like lower interest rates and terms compared to investment financing. And when you live in the property, you better understand the property and the tenants it attracts. This will help make the transition into a rental property smoother.

If you like to learn more about low down payment loan programs and ready to start house hacking, contact us today! We’d be happy to start and guide you through your home buying journey. Contact us by calling (208) 957-0870 or emailing Info@BoiseTurnkey.com

The Boise Summer Guide

Mon, 21 Jun 2021 20:07:00 GMT

Summer is here and officially begins today! We’re preparing you for the best sights and activities to do this summer. Here’s your Boise summer bucket list:

Boise Summer Sights

Boise Summer Activities

If buying a home is on your Boise summer bucket list this summer, contact us today! We’d be happy to start and guide you through your home buying journey. Call (208) 957-0870 or email Info@BoiseTurnkey.com .

Idaho Buyers: 3 More Tips for How to Navigate a Fast-Moving Real Estate Market

Wed, 19 May 2021 17:13:00 GMT

In our last blog , we covered how to spot a fast real estate market and three tips for buying in a fast-moving real estate market like doing research, hiring a good real estate agent, and knowing where you can compromise. We’re continuing the conversation with three more hot tips for prospective homebuyers in this fast-moving real estate market!

3 More Tips for Buying in a Fast-Moving Real Estate Market

1. Do A Full Underwriting

Get ahead of the game by preparing your finances. A pre-approval letter is good, but full underwriting approval is better. A pre-approval letter is a preliminary check based on your credit score, so it’s not the final say. Whereas, an underwriting approval in real estate means that the process of reviewing a loan application to determine the amount of risk has been completed and is satisfactory. The underwriter will examine your financial standing, along with the property’s value, to assess the deal’s risk. Having a full underwriting approval ready with only an appraisal needed makes it a quick and attractive deal for sellers since closing will be brief.

2. Be Aggressive with Your Offer in a Fast-Moving Real Estate Market

There’s no time to lose when the market moves quickly. If you want to get that house, you’ll need to show the seller you’re serious by bidding over the asking price. Remember, the asking price is only the sellers’ aspiration and may not be a reality of the market.

According to the Austin Board of REALTORS®’s January 2021 report, Austin home sales increased 23% to over 2,500 sales. The median price rose to $365,000, too. This is an increase of 16% compared to January 2020. Homes spent 33 days less on the market for an average of 33 days.

A cash offer is another tactic if you are unable to go above a specific purchase price. A cash offer typically means fewer contingencies with appraisals, inspections, and continued employment. Sellers like cash offers since they also speed up the selling process.

3. Don’t Overpay

The market is fast and competitive right now, but don’t get caught up in the drama of it all and pay too much for a house. Avoid getting caught up in the bidding wars and spend more than what the property is worth. The Great Recession is a painful reminder of the dangers of overpaying for a property.

A great tactic to avoid overpaying is looking at houses 10% to 15% below your budget. This allows extra cushioning so you can overbid while still not putting a strain on your finances.

If you need help competing in this fast-moving real estate market, contact us today! We’d be happy to start and guide you through your home buying journey. Call (208) 957-0870 or email Info@BoiseTurnkey.com .

Idaho Buyers: How to Navigate a Fast-Moving Real Estate Market

Tue, 04 May 2021 21:42:00 GMT

The real estate market in Boise is moving fast, but we’re sure you’ve heard that before! Here’s how to identify and buy in a fast-moving real estate market.

How To Spot a Fast-Moving Real Estate Market

The easiest and quickest way to determine if a market is moving fast is by looking at months of unsold inventory on the market. A healthy inventory is between four to six months because it’s balanced between buyers and sellers. Less than four to six is a seller’s market and more than four to six works in favor of homebuyers. The data tells us we’re in a seller’s market now. In Canyon County, inventory was down a little over 60% in March 2021 compared to March 2020. In Ada county, it’s almost 80%!

3 Tips for Buying in a Fast-Moving Real Estate Market

1. Research

Before making offers and trying to compete with other buyers, research what’s currently available. Researching will help you get a handle on the local market without the pressure of having to make an offer. You’ll also learn more about the area and what features you do and don’t like. Take advantage of the several real estate websites to look at new listings. Take advantage of your real estate agent to schedule tours. Speak of real estate agents…

2. Have a Good Real Estate Agent

An excellent real estate agent is needed in general, but it’s crucial in a fast real estate market due to the pressure and timing of a fast market. An excellent real estate agent is defined by hearing about new listings, having relationships with listing agents, and having a record of winning more than half of their offers. At Boise Turkey Properties, we have a diverse team that helps you and us succeed! Our team comprises experts in client transactions, real estate investing, local Boise real estate connections, communicating, and so much more.

3. Know Where You Can Compromise

Some home features like an outdated kitchen can cause less competition for the house. Take advantage of these unique features so you can get the home you can afford. Finishes and appliances are easy to switch out. In fact, at Sage Wilson, we can help you renovate and provide knowledge about what projects will give you the highest return on investment. What else can you compromise on? The location? The square footage? Several elements can be a luxury and still give you the home you desire. As your real estate agent, we’ll find properties that meet your criteria then negotiate a great deal on your behalf.

Stay tuned for our next blog for three more tips for how to buy in a fast real estate market! If you need help competing in this fast real estate market, contact us today! We’d be happy to start and guide you through your home buying journey. Call (208) 957-0870 or email Info@BoiseTurnkey.com .

The Tax Benefits of Real Estate Investing in Boise, Idaho (Continued)

Thu, 15 Apr 2021 09:36:00 GMT

Earlier this month, we discussed some tax benefits of investing in real estate. We covered deductions and depreciation, and we’re continuing the conversation with capital gains and 1031 exchanges.

Capital Gains

Capital gains are the profits investors make when they sell their residential, commercial, or industrial property. The benefit of capital gains is the lower tax rate compared to regular income tax.

For short-term capital gains, the property has to be owned for under one year. There isn’t an advantage of short-term capital gains since tax can range from 10% to 37% as it’s based on your income.

For long-term capital gains, you’ll need to have the property for over a year. This usually applies to rental properties, and the rates are much lower than short-term gains. With your long-term gains, you’ll have a lower tax rate, and you can take advantage of the deductions we talked about earlier. Together, it will lower your taxable amount.

1031 Exchanges

Section 1031 of the IRS allows real estate investors to sell their property to use the profits to purchase another property of equal or greater value. This means you can postpone paying taxes until you’ve sold the next property.

Another option is a 1031 swap. This a tax benefit that permits investors to roll over paying tax while gaining from one investment to another until you sell it one year later. But this one requires you to qualify. To qualify:

If you’re ready to invest in Boise real estate and take advantage of tax benefits, contact us today! We’d be happy to start and guide you through your investing journey. Call (208) 957-0870 or email Info@BoiseTurnkey.com.

The Tax Benefits of Real Estate Investing in Boise, Idaho

Mon, 05 Apr 2021 19:33:00 GMT

There’s a reason real estate investing is so popular and successful. Many millionaires rank real estate as the best investment to get the highest return on investment. And who doesn’t want to be a millionaire, right? So let’s cover some tax benefits of investing in real estate.

First, why are there tax benefits for real estate investors? The government provides tax incentives because real estate investing stimulates the economy. This tax benefit is an enticing advantage of being a real estate investor. These tax benefits help create wealth for an investor. The government hopes these benefits will make you a more productive investor who will buy more property to stimulate the economy.

We’ve listed what we believe to be the most compelling tax benefits below, but be sure to check with your accountant or CPA regarding your particular tax situation.

Deductions

This tax benefit allows for investors to deduct specific expenses associated with the investment property. Some examples of expenses include property tax, mortgage interest, property insurance, property management fees, and property repairs and maintenance. Repairs that don’t add value to the property but maintain its condition can also be deducted since it manages and conserves the property.

As an investor, you can also deduct a mortgage on the primary or secondary residence. The deduction can be applied to home purchases or home equity loans.

Depreciation

Depreciation is another significant tax benefit for real estate investors. It is beneficial if you own an income-generating property, like rental units, as you can recover the costs through annual tax deductions.

Depreciation is deducting a property’s loss in value over its expected life. A residential property lifespan is an average of 27.5 years, and commercial property is 39 years. Essentially, it’s an allowance given due to wear and tear.

It will be determined by the value of your property, its record period, and the depreciation method applied. Let’s look at an example. If you buy a rental property for $250,000, this is an annual depreciation of $9,090 ($250,000 / 27.5 years). You can also depreciate certain capital expenses like a roof or HVAC system after a certain period. This will add to the total amount of depreciation to your annual tax deductions.

The downside of depreciation is you’ll have to repay the depreciation when selling your property and pay taxes on it too. Think of this as a motivator to keep your property instead.

Our next blog will cover capital gains and 1031 exchanges. So be on the lookout! Always be sure to check with your accountant or CPA regarding your particular tax situation.

If you’re ready to invest in real estate and get those tax benefits, contact us today! We’d be happy to start and guide you through your investing journey. Call (208) 957-0870 or email Info@BoiseTurnkey.com.

5 Home Upgrades and Improvements With High Returns on Investment for Your Boise Investment Property

Wed, 17 Mar 2021 16:43:00 GMT

As a homeowner who’s spent a lot of time at home or an investor looking to spruce up their rental, these home upgrades and improvements will help your home and its value. Ideally, any improvement will increase your value and pay itself back. These are some projects that will do just that.

1. Painting Upgrades

Painting is one of the cheapest upgrades while still being able to provide dramatic results. It’s affordable and an easy home improvement. It’s also a project that could be a fun DIY. If you hire a professional to paint the interior of your home, expect to pay around $3,600 to $6,000, depending on your square footage. An exterior paint job will start at $5,000 or more.

2. Adding Siding or a Fresh Veneer

According to Remodeling magazine’s 2020 Cost vs. Value Report , fiber-cement siding costs an average of $17,000 and recovers about 78% (or $13,195) of a home owner’s initial investment. Fiber-cement is the cost-efficient choice since vinyl siding can crack, split, warp, and aluminum can dent and fade. Another perk to fiber cement is how well it holds up against the elements, and it’s resistant to fire, rotting, and termites.

If fiber cement isn’t your style, then manufacturer stone veneer might be. At an average cost of $9,357, it adds an added sale value of $8,943. That’s a 96% return on investment!

3. Building a Deck

Not only will a deck be an excellent spot for lounging and entertaining, but it provides a seamless transition from going inside to outside. In 2020, wooden decks brought in a 75% return on investment. Natural, rustic wood is recommended to get the highest ROI while also sticking to a classic look.

4. Kitchen Upgrades

Remodeling a kitchen can bring a net cost of 77% on your investment. If you’re thinking about selling in the future, make sure you avoid making overly personal decisions, so your kitchen is still sellable. If you decide to renovate your kitchen, do it right the first time by picking high-quality fixtures like stainless steel appliances and granite countertops.

If a whole remodel isn’t in the budget for you, try some of these upgrades. Instead of replacing appliances, coat your existing appliances with electrostatic paint to give them a metallic finish. Even just painting the cabinets can go a long way as minor kitchen remodels have a higher return on investment than major ones.

5. Modifying the bathroom

Popular bathroom upgrades like updated countertops and new fixtures give a return from 57% to 64%. Still to classic choices so it will appeal to people with traditional and contemporary styles.

If you want more minor upgrades, touch-ups on sinks, toilets, and tubs could make your existing appliances look brand new. A surface-restoration company can recoat ceramic, porcelain, and fiberglass fixtures to bring back the shine in your bathroom.

If you need help picking your next home upgrade or improvement project, contact us ! We’d be happy to advise you about what projects will improve your home’s value and give you a return on your investment. Call (208) 957-0870 or email Info@BoiseTurnkey.com.

Top 5 Things Every New Boise-Area Real Estate Investor Should Know

Mon, 01 Mar 2021 15:31:00 GMT

To be a successful investor, you need specific skills and knowledge. Investing shouldn’t be confusing, complicated, or intimidating. And at Boise Turnkey Properties, we know just the tips to make you a successful real estate investor. As a new investor, these are the five things you need to know when you’re thinking of investing in Boise-area real estate.

1. Start Small and Local

When you’re starting, it’s best to start small, so you’re in your comfort zone. Every transaction allows you to improve your understanding of the real estate investment business. Depending on your goals, each deal will teach you what you need to do to generate cash flow and potential profits. Deals may fluctuate based on circumstances, so be patient.

2. Grow Your Investment Portfolio Slowly

Be realistic and slowly add more projects and deals as you get more familiar with the process. Even seasoned Boise-area investors struggle with multiple projects, so be smart and start small, then add more. If you take on more than you can handle and manage, it can end up costing you money. Small projects are a great way to begin while keeping your full-time job. If you grow too quickly, you can damage your business and finances, making it hard to recover.

3. Be Ready to Work at Real Estate

Investing isn’t like it is on television. It requires work and time, more than you probably think. It’s common for investors to spend time making connections with professionals during and after hours. Or, you may have to tend to a project immediately. When you’re an investor, you’re on call all the time, so expect to work nights and weekends. But, your hard work will be rewarded! Investors who outwork everyone else will usually win more deals.

4. Understand The Real Estate Investment Process

You can’t be an expert in everything, but you should be familiar with the real estate investment process. Before even making an offer, understand what will happen next so you can prepare. This is especially important for properties that require repairs or renovation. Understand the time and effort that goes into those properties, and most importantly, the money required for the investment to make a profit. If you want to be a landlord, you’ll need to know what’s required of a landlord, especially the legalities. To avoid mistakes, continuously check on the project to monitor the progress. The better you understand the process, the better investor you’ll be.

5. Trust The Numbers

Investing can quickly get messy if you involve your emotions. That’s why listening and trusting the numbers is crucial if you want to be successful. Numbers will tell the truth of how successful the property will or won’t be. If you manipulate the data, you’re asking for trouble later on, as it can set you back. Instead, do research and make sure it all adds up.

At Boise Turnkey Properties, we do it all with you and for you! We work with each investor individually to find properties that meet their criteria and negotiate a great deal on their behalf. We oversee rehab at our client’s discretion, ensuring the equity goes into our client’s pockets, not ours. If you’re ready to start your investing journey, reach out to us! Call (208) 957-0870 or email Info@BoiseTurnkey.com.

Also, check out our resources and reports for more information!

How to calculate returns that work for YOU!

Thu, 17 Dec 2020 22:34:00 GMT

Some people are big picture people. Some people are detail oriented. Many of us fall somewhere in the middle. Not me- I am absolutely a big picture person, much to the chagrin of the people on my team who have to dot all of the “I’s” for me as I barrel from deal to deal. I don’t use spreadsheets to analyze deals, though we have many clients who operate using spreadsheets and very specific criteria. This is one of the beautiful things about investing in real estate- there are nearly infinite ways for you to make money and analyze your projected returns, your style, methods and expectations for returns can be totally unique to you. That said there are a few quick ways to determine if a deal could work, some of the most common are cash on cash return (CoC), raw cash flow, and cap rates.

Cash on cash return is one of the more simple ways to quickly determine if an investment will meet your expectations for a return. It is expressed as a percentage of return on the actual cash you bring to a deal- it does not take in to account the purchase price or projected appreciation and equity, simply the return on your cash. For example- if you are buying a property for $200k and paying 25% down, your cash investment is $50k and your return is based on that. If you clear $300 per month in rents after all of your expenses are paid, you would have a raw annual return of $3600 ($300 per month X 12 months. Your CoC return would be 7.2%, which is $3600 divided by your $50k investment.

Raw cash flow is another quick way to quickly analyze a deal- you simply subtract your monthly expenses from the projected rents and decide if that cash in your pocket every month is worth the effort to you. A couple of ways people try to quickly analyze deals in regards to raw cash flow is using the “1% rule.” The 1% rule simply implies that if your monthly rent is at least 1% of the purchase price, you’ll likely have at least positive cash flow. For instance, if you are buying a $200k property, if gross rents would be at least $2,000 per month, it meets the 1% rule. Keep in mind that there is typically a direct correlation between higher rents and lower priced properties. The higher that percentage, the lower the quality of property and tenant, appreciation is typically low or non existent on these properties and you are often dealing with more “hands on “ types of tenants.

Finally- for the purposes of this post, I’ll touch on Capitalization rates or “cap” rates. Many new investors, and even some experienced ones, don’t truly understand cap rates. The fact of the matter is, if you are buying residential rental properties- that is, properties with four or fewer units, cap rates have no place in your deal analysis. Cap rates are only applicable to commercial properties- they assign a value based on the income that the property produces. Residential properties are valued based on comps- what similar properties have sold for. Think of it this way- when the average person is buying a home, they don’t think of it in terms of how much income it will produce, and that is often your competition as a buyer. Cap rates will give you an false sense of the value of a residential property, unless you are buying commercial, you are better off using another metric.

When analyzing your returns, the best thing to keep in mind is what you are comfortable with- it doesn’t matter what anyone else thinks about your investment if it works for you. We’ve had many clients pass over great deals because it didn’t meet some arbitrary rule or an online calculator didn’t spit out an approval for you. Any investment involves some level of risk. Everyone has a different way of calculating their return and investing is very personal, it’s vital that an investor knows their own risk tolerance and how to operate within those boundaries.

Happy Investing!

How to Screen Tenants the RIGHT Way!

Tue, 03 Nov 2020 20:03:00 GMT

One of the most stressful unknows for new investors is the question of these strangers who will be living in their property. Who will they be? Are they good people? Will they take care of the house? What will they do if there is a leak under the sink? Do they have a 400 pound dog or an emotional support goat? How do I pick the right tenant?

First and foremost, landlords should NEVER “pick” a tenant. They either qualify for the rental or they do not. Once you start picking the “better” tenant, you are putting yourself and your property at risk for a Fair Housing violation. Those are not fun and they’re easily avoidable.

While these mystery people can cause plenty of stress for new investors, it is almost all unfounded, especially in a great market like Boise. The Treasure Valley is filled with plenty of hard working, honest, on-time paying tenants who want to care for your property and provide a nice home for themselves. You might think it will be tough to find one of those when combing through your stack of 50 rental applications. After all, Boise has a vacancy rate around 3% right now, so you will get a ton of applications and be buried in paperwork, right?

Nope.

The process is mind bogglingly simple with you understand it and execute properly. Want to know the secret? It’s Fair Housing. Yep- that ongoing series of regulations that is just there to punish landlords, right?

The reality is that following remarkably simple tenant screening and placement guidelines will make your life SO much simpler and it will limit your liability when it comes to discrimination. So how does it work?

It’s simple- you, or your property manager, come up with a few basic criteria that your tenants must meet- income, credit score, criminal history, references, etc., none of which have to do with any protected classes. You publish exactly what these criteria are, so prospective tenants know the rules going in.

The first applicant that comes in and passes all of your criteria? They get the house. Simple. You’ll want to give them a limited time frame to pay their deposit and settle up whatever other financial terms you have in your lease, if they don’t make the deadline, you move on the applicant #2.

You can read more about the Fair Housing Act here .

If you want to learn more about what Boise TurnKey tenant screening criteria are or what we do to protect our clients and provide quality housing to all, you can reach out to us here .

Happy Investing!

BRRRR Investing Basics: Step 5, Repeat

Mon, 17 Aug 2020 20:46:00 GMT

This is the easy one, just do it all over again! You’ve done the work and you have your initial investment back in your pocket, now go out and repeat!

By now, you have some experience. You’ve worked with a few contractors and you’ve treated them fairly, they’ve treated you fairly, you have the basics of a team built now.

Finally- don’t write off the MLS. People like to assume that deals cannot be had on the MLS, but 95% of the property sales happen there- no one of those is a good deal? Well, not all of them, but there are deals there. Keep your eyes peeled and know when to act.

Get out there and build that portfolio!

BRRRR Investing Basics; Step 4: Refi

Tue, 05 May 2020 20:50:00 GMT

Okay- up until this particular “R,” you’ve been all like; “sure, this is good info, but it’s pretty obvious.” I get it. But this third R, this is where the rubber meets the road. We have experienced investors reaching out to us consistently that still get caught up on this step. The refinance is intimately tied to the first two steps of the process- buy and rehab.

Let’s briefly get back to the “buy” post. There was a simple formula that I posted as a guideline for the math of a BRRRR deal. The actual numbers are imaginary, but understanding the ratios is essential to the process:

Finished value of property (ARV)= $100k

Cost to purchase: $50k

Rehab expenses: $25k

Profit (Equity=Value-expenses): $25k

If you can achieve those ratios on any deal, you can “repeat” the process infinitely, using the same down payment over and over. That’s it, easy peasy.

There are challenges to this and compounding factors; debt to income ratios, required reserves, banks discounting your rents, etc.

Here’s the key to remember. A bank is going to require that you have approximately 25% down for every property you own. Semantics are key here- I didn’t say “cash.” That 25% can be equity, and you can create that equity through improving the value of the house. If you can improve the value of the property by 25%, the bank will give you your down payment back. Now you have your pile of cash to repeat the process.

Questions? Fill out the comment form below and we will answer any questions you have. As always, feel free to give us a call or send a PM if you’d like to chat about the concept.

Should I Invest for Cash Flow or Appreciation?

Wed, 08 Apr 2020 20:52:00 GMT

It’s the most common question we get: “What would the cashflow on this property be like?” You see it on the real estate investing forums- “Cash flow is KING!” At a first glance, investing in a highly appreciating market might not be terribly attractive to a new investor- lots of competition, higher point of entry and lower cash flow. Why would anyone invest in a market like that? Well, after 20 years of experience, I can tell you there are LOTS of reasons.

Don’t get me wrong- cashflow is vital. It’s what gets you through every month. It’s what pays your mortgage, and can get you through the ups and downs in the market and your own personal financial challenges. But- and it’s a BIG but- with very few exceptions, cash flow does not make you rich and it does not create the freedom that most new investors are looking for. That’s what appreciation does.

I have a saying; “Cash flow pays for your kid’s lunch. Appreciation pays for their college.”

You see, it’s not just about each individual deal. It’s about the geographic market that your deal is in. That market has specific price points, property types, demographics and tenant types that are unique to that market. Appreciating markets and cash flow markets are opposite in most every way. In general, it looks like this:

High Cash Flow Markets: Lower prices/point of entry, higher rent to purchase price ratios, higher turnover rates, more subsidized rents per capita, more expensive turnovers, higher vacancy rates, stagnant or negative appreciation. These metropolitan areas can usually be identified by higher crime rates and stagnant or dwindling populations.

High Appreciation Markets: Higher prices/point of entry, lower rent to purchase price ratios, lower turnover rates, lower subsidized rents per capita, inexpensive turnovers, low vacancy rates. These metros usually have growing populations and lower crime rates.

Don’t believe it? Check out this article on Veros breaking down the projected appreciation during the impending recession . Do the stats match up for the cities that are holding strong? What about the ones that are projected to lose value? I’d say so…

Of course these are generalizations and not true 100% of the time, but they are true MOST of the time. Reading those traits, aside from cash flow, is there any benefit to owning in a high cash flow market? Boise TurnKey gets inquiries regularly from people who were lured by a low cost, high cash flow deal years ago. Almost every time, they have either broken even or lost money on cash flow after vacancy and turn over costs and now that they are ready to get out- their property is worth the same or less than it was when they bought it years ago. Deals like that don’t leave a great taste in your mouth for investments.

Now, I’m not suggesting that you go to the other side of the pendulum and invest strictly for appreciation, You could buy a ranch in San Jose for $1.5 million and rent it out for $4500 and it would probably appreciate fairly well, but you’d have to cover the difference in the mortgage and your income, which could get very expensive very quickly.

Find a balance- a nice property in a nice area that will attract nice tenants and pay for itself for the first year or two. Systematical raise rents as it appreciates.You’ll be shocked at how simple and passive it can be to build wealth in this way.

Let’s say you buy a property in a modestly appreciating area- 8% per year. It breaks even the first year and you raise rents by $75 per year. If you were to make the minimum payments on your mortgage, in five years you’d be cash flowing $300 per month and you’d have well over $100k in equity. Now, what if you did that once per year for 10 years?

BRRRR Investing Basics; Step 3: Rent

Fri, 03 Apr 2020 22:36:00 GMT

BRRRR basics, the third R- rent!

New investors fret for years on the “B” in BRRRR- buying. That first step is always so scary, the deal has to be PERFECT. Once they have that deal, the agonize over the rehab- nickel and dime their contrators, do as much work themselves as they possibly can in an effort to get the property perfect as they prep to advertise it “for rent.”

After all of this work, effort and expense- they take the first smiling prospective tenants to show up with a check.

Friends- let me tell you about the MOST expensive mistake most new investors make; not thoroughly and properly screening their tenants. You think your rehab was expensive and stressful? Wait until you have a tenant smoking in your kitchen, dumping trash down your vents and laughing in your face when you politely ask them to pay rent. Wait until you are forced to move forward with a formal eviction and you’re stuck with seemingly never ending bills from your attorney. For months on end. For reals. Your rehab bill could be a walk in the park in comparison.

It’s awful. But there is good news- it’s actually pretty easy to find yourself reliable and responsible tenants. Screen them. Screen them properly, thoroughly and in accordance with all fair housing laws. It’s really that simple. Sure, there are plenty of details, and there will be much more detailed blogs about landlord/tenant relations, but it all begins with proper screening.

Insider tip- just because you are proud, and you should be, of your new investment, it may not be in your best interest to let everyone and their dog know that you are the owner and the landlord. If you own the property and your tenant knows this, every interaction now becomes a negotiation. Need a rent increase? Why? Be prepared to make the argument, and it’s not likely to go well.

There is a foolproof way to avoid all of that mess- let Boise TurnKey guide you through the process. Our sister property management company, CohesionProperties.com, has never had a formal eviction. Of course anything is possible, but having an experienced team behind you goes a long way.

Whitewater Park Neighborhood BRRRR

Fri, 06 Mar 2020 18:32:00 GMT

We helped our client pick up this duplex near Whitewater park last fall. Both tenants were paying rents well below market rates and were on month to month leases. We immediately started working with them to get rents up to where they should be. One tenant was happy to stay, the other chose to leave. We worked with that tenant to give them reasonable time to prepare and we helped them find a new place that was a better fit.

From there, we managed the rehab of the vacant unit in a strategic way to keep costs low and allow us to maximize rents for our client. Overall, total gross rents were raised by 48% in a matter of a few weeks.

We can help you do the same! Head to BoiseTurnKey.com and fill out our contact page, we’ll help you take your first step on the road to financial freedom!

BRRRR Investing Basics: Step 2, Rehab

Tue, 03 Mar 2020 21:46:00 GMT

BRRRR basics, the first R- Rehab!

Ahhhh….the smell of cat urine and rotting food. A backyard full of trash and dog poop. It’s the first day of rehab, it’s like Christmas to a real estate investor- the most exciting day of the project! When most people see a house in poor condition, full of trash and with so many pets that feathers are fluttering out the window- they think- “what a mess!” Investors see a house like that and they think- “what an opportunity!”

Don’t get me wrong- opportunity is universal to us- this doesn’t mean an opportunity to take advantage of a person in a bad living situation- it’s an opportunity to help someone get a fresh start, but it’s also an opportunity for you to provide a new owner with a clean and beautiful home or a renter with a great place to lay their head.

In order to get to that opportunity, you’ll have to do some dirty work. There are two ways to go about it; you can hire a general contractor (GC) to come in and take care of everything OR, you can do big chunks of it yourself. If there’s room in the deal for you to hire a contractor and still end up with that 25% equity that we discussed in the previous post, that might be a good way to do. If you have the time and willingness to work, there’s no better way to learn than jumping in and doing what you can on your own. It will help you understand how difficult or time consuming each task in a rehab might be, which will help you negotiate more effectively with contractors in the future. You’ll learn where to push back and where to be reasonable- and you should always be reasonable. Remember, everyone you work with is on your team- if you do well, they do well. They all have rent to pay and mouths to feed, just like you.

Finding the RIGHT contractor- that will be your biggest challenge, especially on your first job. Do you hire a GC or do you hire and supervise the individual contractors on your own? If you supervise the job- in what order should the contractors be hired? How should they be compensated? Should you pay them a deposit up front? Do you trust them with your money?

So many variables here, it will make your head spin. The best way to start is ask your friends and family for referrals- do they know someone trustworthy and reliable? Are they reasonably priced? Will they let you shadow them and learn a bit? There are costly and frustrating surprises on every rehab project- there will absolutely be plenty of those on your first few. Know that some sort of surprise is coming and don’t beat yourself up- that’s how we all learn.

Boise Turnkey partners with several local, honest contractors in all fields. We are happy to refer you to a trusted partner or manage a rehab on your behalf. Let us know how we can help!

Want to learn more about the rehab process? Check out the video below to learn the 3 mistakes every newbie rehabber makes!

BRRRR Investing Basics: Step 1, Buy

Wed, 26 Feb 2020 17:29:00 GMT

At Boise TurnKey, we’ve been BRRRRing before it had a name. While there are many ways to invest in real estate, BRRRR is the simplest way to get started with limited funds and resources. BRRRR is an acronym that stands for Buy, Rehab, Rent, Refinance and Repeat. Most people get stuck on the refinance part (we’ll get to that!) but in order for the process to work, you have to understand each step and how it influences the next step in the process.

For today, we will discuss the B- buying. When you BRRRR, the goal is to have the property cash flowing with as little of your own money left in the deal when you are done. In order to do that, when you are done with the second step, the rehab, you need to have created approximately 25% equity in the property.

For now, let’s forget about the next steps, just focus on the purchase. For simplicity’s sake, let’s say you buy a property for $50k, you spend $25k fixing it up. The goal should be that when you are done, the property is worth around $100k.

Here’s the simple equation in reverse for a bit more clarity:

Finished value of property (ARV)= $100k

Cost to purchase: $50k

Rehab expenses: $25k

Profit (Equity): $25k

I’ll explain why this is important and how LTV (loan to value) will effect your investing career later in this BRRRR blog series- but for now, take a few minutes and look at some properties in your local market and practice applying these ratios to see if you can get close to these ratios. Reach out to our team if you have any questions or want to review numbers with us!

Finally, you might be thinking, "sure, this all sounds great, but I don’t have the $75k that this scenario would require." First of all, these are just simplified numbers- it’s likely that if you found a house for $50k, you probably wouldn’t want to buy it under any circumstances anyhow…but I digress. At this top of this post, I mentioned that there are many ways to invest in real estate- one of those ways is through funding deals like this. There are many people and companies out there who solely provide cash to investors to do these types of deals. Search our blog for more information on private money loans (PML), hard money loans (HML) and portfolio lenders. You might even have friends or family members who want to lend you a few bucks and get in on the fun too!

January 2020 Newsletter

Tue, 21 Jan 2020 22:21:00 GMT

Click on the image to view the complete January 2020 Newsletter Issue from Boise Turnkey Properties:

Isn’t Real Estate Investing for People Who Already Have Money?

Sat, 11 Jan 2020 22:24:00 GMT

We hear this all of the time. Don’t you need to have $100k saved up before you can start investing in real estate? The simple answer is, well, “no.” The fact of the matter is that my wife and I were both teachers when we started this journey, and as we all know, teachers aren’t exactly huge wage earners. So- how on earth does someone with a teacher’s salary acquire multiple rental properties? We know exactly how- we have first-hand experience and a big part of what Boise Turnkey offers our clients is that experience. We don’t just talk the talk, and as a matter of fact, we don’t charge a penny to show others how to replicate this process. It’s not complicated, after all, we are just lowly teachers!

We could head down a rabbit hole and discuss any number of ways to invest in real estate without cash, but there are a couple of very simple and straightforward ways to get the ball rolling. You’ll hear real estate investment gurus and people selling investment courses about all of the ways you can invest with “little or no money down,” which is a bit disingenuous. Can you buy a property with no money down? Sure, it’s possible, but it’s not easy. Can you purchase a rental property without using any of your own cash? Absolutely, and most of the people reading this article already have the means to do so. In this article, we will discuss how no money down deals work and one of the simple ways you can purchase a property with none of your own cash.

None of your own cash: If you own your own home now, it’s likely you could buy a rental property with none of your own money. Many investors use HELOCs (Home Equity Lines of Credit) to leverage the equity they have into a down payment on an investment property. HELOCs are cheap, flexible funding that allow homeowners to move their equity from their personal home to an investment property that produces income, essentially doubles their equity growth and reduces their tax liability. Boise TurnKey has assisted many novice investors (several teachers included) in making great use of this strategy and putting the equity in their home to work for them instead of either sitting untapped or buying them a vacation or hot tub.

In short- if you have some equity in your home, it’s possible that you could transfer that equity into a rental property. That rental property would produce monthly income for you, the equity would grow tax-free AND reduce your tax liability. That means that come April 15th, it is much more likely that you’d be cashing a check rather than writing one. This about this- a rental property produces monthly income, increases in value over time and gets you a hefty tax deduction. And if you are using this method to acquire a rental, that can cost you literally not one red cent.

The best benefit of all? The above method can be repeated over and over.

No money down acquisitions: Another term often used for these types of deals is “owner finance” or “owner carry.” This simply means that instead of using a bank, you make payments to the party that owns the property. Think of it like buying a car from a neighbor- they give you the car today, you make monthly payments for a couple of years while you drive the car around. Real estate transactions can work the same way, the kicker is you have to find someone with a problem you can solve through this method, which is where the real work starts. In almost any case, a seller will make more money through a traditional sale than they will through an owner finance deal, so you need to find creative win-win solutions for a seller’s specific scenario.

In a seller finance situation, if the seller has no time, it’s likely that a buyer can solve that problem. Maybe they are going to be foreclosed on in two weeks and lose their home and all of their equity. That is simply not enough time to sell a house on the open market. A buyer could come in and purchase that property at a discount by bringing the mortgage current and assuming payments on the mortgage in exchange for the owner transferring the deed to them. Boise TurnKey never advocates for taking advantage of a seller’s situation, but deals can be struck that benefit all. As a buyer, you can offer enough cash and assistance to the seller for them to get back on their feet; find a place to rent, avoid foreclosure, bankruptcy, and homelessness. A fresh start. One of the best things about this method is, due to the fact that you aren’t including a bank, which is heavily regulated, nearly any terms you can imagine are on the table, you don’t have to think inside the conventional mortgage box.

There are many other ways to invest and leverage, these are just two ways to get your portfolio started when you don’t have a stockpile of cash, like nearly everyone else!

Contact us for a free consultation if you are interested in learning more about the strategies mentioned above or anything related to residential real estate investing.

Happy investing!

1031 Exchange? Boise Turnkey Properties Can Help!

Thu, 02 Jan 2020 15:53:00 GMT

Time and timing are of the essence during a 1031 exchange. Let us help you become more successful by finding lucrative investment properties in the Boise, Idaho area, given your strict timeline. Be sure to ask about our negotiated 1031 rates. We work well under pressure, and we’re ready to help you!

Contact us today:

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