So you’ve heard great things about real estate investments in Coeur d’Alene, ID, and you’re ready to grab your piece of the pie, but you’re not sure where to even begin. No worries! There are several insider-tips that will shorten your real estate search time and help you search more efficiently. Here are a few thoughts from a local real estate investor that will help get you started.
- It’s not what you know, it’s who you know. The most successful realtors in the Coeur d’Alene area are its locals – people born and bred in or near Coeur d’Alene who know the area, understand the housing market trends backward and forwards, and who are well connected through local family, friends, and colleagues. The best way to gain information about the best real estate investments in Coeur d’Alene, or at least within the borders of Kootenai County, is by connecting with local individuals and investment companies who have experience in real estate investments in those specific areas. Talk to friends and family members of your own who live in the area. Even if they haven’t done any real estate investing in a while, chances are they know someone who has. The people who were born and raised in Kootenai County stay very connected to their friends and neighbors, and everyone always knows someone.
- Do your research. There’s really no such thing as a bad real estate investment within the Coeur d’Alene city limits. Even if you purchase a foreclosure sight unseen and it turns out the house is sitting on pilings, is rotting from the inside, and is literally only worth the experience you’ll give the local firefighters when you burn it to the ground (after checking with the local fire department, of course), that piece of property is still worth its weight in gold and anything you build on it will only increase its value. This is especially true if the investment property has access to or a view of the lake, or is within a short distance of Downtown Coeur d’Alene. So again, do your research. Oftentimes, at least in Coeur d’Alene, it’s not so much the house or building that’s the investment as it is the location and the land.
- Spend some concentrated time in the area, if you can. Did you vacation in Coeur d’Alene during its beautiful summer months? Try a couple weeks there during the winter. Talk to friends and family about what living in Coeur d’Alene is like during the off-season, how the tourist industry affects their lives or businesses, and if they own or know someone who owns an investment property, how does the changing of the seasons affect their investments?
It’s unlikely you’ll know or meet anyone who regrets moving to Coeur d’Alene from anywhere else. Everyone who lives here loves living here, and you will, too.Read More