BRRRR in Montana from out of state

[Justin C.]

Hi all - New RE investor looking to get started in BRRRR. Considering investing in Montana from out of state. I would love to connect with anyone who has succeeded with BRRRR in the area.

I was looking in Bozeman recently as I have some contacts there & spend time there sometimes. But the market seems extremely hot - difficult to find a good deal, and mostly cash flow breakeven. Also there don't seem to be many opportunities to drive appreciation through renovation, because most of the town is fairly new and even places that need work are seeing a lot of competition /multiple offers. Curious if people think it's possible to succeed with BRRRR in Bozeman in today's market.

Of the geographies within a few hours of Bozeman, I am wondering if people would suggest looking at any in particular for best results in BRRRR. (Including Livingston, Billings, Helena, Missoula, Great Falls, or others).

I appreciate your thoughts or relevant contacts. I am also happy to discuss if there are ways I can add value to your process.  Thanks in advance.