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GM's Thread About Everything/GM's Thread About Nothing (7 Viewers)

Now I feel like I shouldn't reply with my stupid house-buying #### given @Dan Lambskin's post.  I'm really sorry about the loss, GB.  Even if he wasn't a close friend anymore, that's really jarring.

 
Found out last night one of my childhood friends took his own life.  Haven't talked to him in probably 20 years, so not completely broken up, but still sucks.  Lost his brother in high school to AIDS (got from a blood transfusion when he was a kid). That was a real gut punch as an early teen when one of your best friends tells you he only has a few years left to live
Christ.  Sorry, man.  Tough days. 

 
Also, tell me more about this Boise real estate market?
It's still 10-20% below national averages.  Growing like crazy.  Prices going up a stable 7-12% last few years. Area is going to grow another 50% by 2030.  Boise is #1 for construction in US right now.  People are moving here from everywhere because of the low prices and quality of life.  2.9% unemployment. 99.2% occupancy rate. People are bidding up rentals like houses.

 
Found out last night one of my childhood friends took his own life.  Haven't talked to him in probably 20 years, so not completely broken up, but still sucks.  Lost his brother in high school to AIDS (got from a blood transfusion when he was a kid). That was a real gut punch as an early teen when one of your best friends tells you he only has a few years left to live
That's tough. Sorry, man.

 
You can probably buy 3x as many houses here in Boise. Rents are very high and a great return.  I can be your realtor here.   :D     How many houses would this make?  
Average house cost? Average rent for that house? Typical taxes and insurance for that house? Local residential permitting trends?

 
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mr. furley said:
apparently wondering aloud why someone would buy 3 different size bags of dog food (all the same brand), rip one open and put it in a small container, put the middle sized one, sealed, inside the larger container... while leaving the 3rd & largest bag sitting next to the dog dish is stupid.

:shrug:  
I have no idea what's going on here.

 
Average house cost? Average price for that house? Typical taxes and insurance for that house? Local residential permitting trends?
Ada County  avg. is like $280k now. ($180-$600k)   (Boise, Meridian, Eagle, Kuna)
Canyon Co. $185K  ($140-300k) (Nampa/Caldwell about 20 miles away)

Taxes are a tad over 1%.  Insurance is about $60/mo.    Permitting trends? no clue.  I just know they are building them as fast as they can and there is very little inventory like most of the country.

This was written in Washington Post two days ago about the city of Boise itself.  Pretty cool.  It's really starting to get an Austin feel to it.
https://www.washingtonpost.com/graphics/lifestyle/vacation-ideas/things-to-do-in-boise/?tid=a_inl&utm_term=.ba0d6b779307
 

 
Ada County  avg. is like $280k now. ($180-$600k)   (Boise, Meridian, Eagle, Kuna)
Canyon Co. $185K  ($140-300k) (Nampa/Caldwell about 20 miles away)

Taxes are a tad over 1%.  Insurance is about $60/mo.    Permitting trends? no clue.  I just know they are building them as fast as they can and there is very little inventory like most of the country.

This was written in Washington Post two days ago about the city of Boise itself.  Pretty cool.  It's really starting to get an Austin feel to it.
https://www.washingtonpost.com/graphics/lifestyle/vacation-ideas/things-to-do-in-boise/?tid=a_inl&utm_term=.ba0d6b779307
 
Rent on that 280k House?

 
That's probably going to be about a 5-6% cap rate. We can do better.
Yep, it's slightly under where I'd like, but there is so much room to grow here and demand is going to be solid another 15 years. Lot of decent paying jobs coming here finally.  Think Austin 20 years ago.

 
Yep, it's slightly under where I'd like, but there is so much room to grow here and demand is going to be solid another 15 years. Lot of decent paying jobs coming here finally.  Think Austin 20 years ago.
Room to grow means constant price pressure on your investment. It's much cheaper to build houses in bulk than you can buy individually. Maybe a duplex or quad in the city center if there are still some dicey neighborhoods cheap

 
Room to grow means constant price pressure on your investment. It's much cheaper to build houses in bulk than you can buy individually. Maybe a duplex or quad in the city center if there are still some dicey neighborhoods cheap
That's why I'm waiting. going to meet with someone after the new year on those building costs.  That return should be much higher.  I haven't built before...   The existing Dupes and Quads have terrible returns as they are priced too high, especially in Boise.

That constant price pressure has moved outside Boise about 15-20 miles.   About 30 miles away is Wilder and Homedale along the Snake River with incredible views of the Owyhee Mtns.  That's the place to invest now for 30 years from now on the cheap IMO.  

 
That's why I'm waiting. going to meet with someone after the new year on those building costs.  That return should be much higher.  I haven't built before...   The existing Dupes and Quads have terrible returns as they are priced too high, especially in Boise.

That constant price pressure has moved outside Boise about 15-20 miles.   About 30 miles away is Wilder and Homedale along the Snake River with incredible views of the Owyhee Mtns.  That's the place to invest now for 30 years from now on the cheap IMO.  
Yeah, if I last another 30 years it won't be pretty and I definitely shouldn't be near any mountains or Rivers.

I plan on this for retirement income so stability is very important. I like near City center because #### can blow up and sent the burbs in s tailspin but people still value in town and close to work.

 
Henry Ford said:
How dare you?

"Can you blow me where the pampers is?"
Perhaps I was making too broad an assumption based on Jeremy Pivens's presence.  I barely remember anything except the P-Funk scene.

 
I have a friend that recently moved to NYC. She saw a guy steal a package off her front porch yesterday  :(

She got super  :hot:  and ran after him. For 5 blocks. What the moron didn't know is that my friend is a pretty serious marathon runner. She managed to chase him down and snatch the package back from him.  :lmao:

The only crappy part were all the people who just ignored her as she was yelling to stop the guy and the neighbor lady that yelled at her for "being rude".

 
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Yeah, if I last another 30 years it won't be pretty and I definitely shouldn't be near any mountains or Rivers.

I plan on this for retirement income so stability is very important. I like near City center because #### can blow up and sent the burbs in s tailspin but people still value in town and close to work.
Agree 100%.  I was going to retire this year from my RE income, but I sold 31 homes last year as I like helping young families get into homes. This year I sold 15 and took some sort of vacation every month and was off May to end of August traveling.  It was nice after busting my ### for 40 years.

City center.... had a great RE agent when I started investing. We were in OC at the time and he described RE in terms of waves from the beach. Sometimes just a small wave that hit just the beach, then a wave that extended to Riverside, then a smaller wave that extended just to OC.  The thing is the wave always hit the beach.

The same is true here in Boise as Boise is the beach. Probably the same effect for most city centers.

 
Going to a few open houses tomorrow.  Also enlisted my realtor again.

:bag:  

Oh, how's the new house, @the rover / @-fish-?
New house is great.  I'd sell it to you, but I just remembered how much I hate moving.   Come visit.   I have a full bar and a new chick who is suspiciously not crazy (although she is on the crazy scale reserved for redheads, strippers and girls named Tiffany)

 
Found out last night one of my childhood friends took his own life.  Haven't talked to him in probably 20 years, so not completely broken up, but still sucks.  Lost his brother in high school to AIDS (got from a blood transfusion when he was a kid). That was a real gut punch as an early teen when one of your best friends tells you he only has a few years left to live
So sorry, man... Those parents- Jesus- heartbreaking.

 
I have a friend that recently moved to NYC. She saw a guy steal a package off her front porch yesterday  :(

She got super  :hot:  and ran after him. For 5 blocks. What the moron didn't know is that my friend is a pretty serious marathon runner. She managed to chase him down and snatch the package back from him.  :lmao:

The only crappy part were all the people who just ignored her as she was yelling to stop the guy and the neighbor lady that yelled at her for "being rude".
Did she shove a knife in his throat and say "merry christmas" after taking back the package?

 
I have a friend that recently moved to NYC. She saw a guy steal a package off her front porch yesterday  :(

She got super  :hot:  and ran after him. For 5 blocks. What the moron didn't know is that my friend is a pretty serious marathon runner. She managed to chase him down and snatch the package back from him.  :lmao:

The only crappy part were all the people who just ignored her as she was yelling to stop the guy and the neighbor lady that yelled at her for "being rude".
Where was this?

 
I'm at the bar. Good blues band, but as usual, not one unattached female. Well, the bartender, but she's into fitness so all I'm getting from her is drinks. I should just go home and watch SNL.

 
I'm at the bar. Good blues band, but as usual, not one unattached female. Well, the bartender, but she's into fitness so all I'm getting from her is drinks. I should just go home and watch SNL.
Ask her if she’s into fitness whole dong in her mouth.

 

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