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Updated over 3 years ago,

User Stats

170
Posts
54
Votes
Gayle Eisner
  • Investor
  • Monterey, CA
54
Votes |
170
Posts

Hmmm, Am I Making a BIG Mistake? Out of State investing

Gayle Eisner
  • Investor
  • Monterey, CA
Posted

I love Montana, Gardiner, especially & am contemplating purchasing a house near the YS river and in town.  This town is surrounded by Yellowstone Natl Park and forest service lands, so I predict real estate will always be at a premium ...  I see that homes in that area rent out for $350 night for a 2br 1 bath (pristine condition). The season runs roughly May-Sept and there is no housing in the area for Park employees and others to live...It is crazy... I would love to make it work so I could at least break even and stay there some times.  I calculated roughly that if I get 19 nites / 5 months of tourist season I could do that? OW, I can just rent the property out to employees at a profit. It is right on the Yellowstone River.   I am just thinking about it and was wondering if anyone has experience with vacation rentals, esp in the greater yellowstone area? Or dealing with this kind of thing.  I would have to have a property mgr for AirBNB, so it might not even be worth it.  I see on VRBO.com and airb&b, they are pretty booked right now from June-Aug and it is only February.... thoughts, suggestions?  Housing in that area is very expensive because the Park is right across the street! thanks!

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