Northeast Bozeman Residence

[Corey Meyer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $680,000
Cash invested: $25,000

I purchased this property as my primary residence in August of 2021 with my wife. There is a basement apartment we are currently remodeling and hope to launch as a rental this coming April!

What made you interested in investing in this type of deal?

I have been renting and was ready to buy a property to call my home.

How did you find this deal and how did you negotiate it?

My wife and I were walking in the neighborhood and saw the sign in the front yard. It was a block away from our favorite bakery and coffee shop. We decided to put an offer on the property and the seller accepted.

How did you finance this deal?

We financed the deal through a local bank with a traditional 30 year fixed rate mortgage.

How did you add value to the deal?

We are currently adding value with a full basement apartment renovation.

Lessons learned? Challenges?

This house is old and will need a lot of maintenance. This is our biggest challenge for the foreseeable future.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Diana Hafemeyer with Tamara Williams was our agent, I highly recommend her.