Belgrade, Montana Home near the Airport

[Tory Brown]

Investment Info:

Single-family residence buy & hold investment in Belgrade.

Purchase price: $350,000
Cash invested: $32,000

My second property that I feel like I acquired by the skin of my teeth. The Bozeman housing market is probably one of the most competitive environments for real estate in the country right now as COVID as caused many many people to leave places with larger population centers to beautiful places like Montana. This property is a testament to how having an actual J-O-B helps you get financing! You might think that you might not be able to get financing because you don't make enough money. But when you set your mind to it and make sure that you have a bit of cash reserves to afford that down payment (even 5%), you can really make big things happen!

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

Love the single family home option at this point. They are always desirable for new families to the area.

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

I found this deal online and luckily I found eager sellers so it was quite easy to negotiate with them. They didn't have quite enough cash to pay for a lot of the inspections that I asked for during negotiations so I came out with a large lump-sum of cash that the sellers paid out in order to cover any unexpected costs that might arise.

How did you finance this deal?

I used a conventional loan with 5% down.

How did you add value to the deal?

I painted all of the walls and replaced the flooring in order to get it rental ready!

What was the outcome?

I currently live in the home and have roommates. Looking for the next property where I will buy, live, fix up, and rent out!