All Forum Posts by: Keith Miller

Agreed Brady, the Missoula market is bonkers right now, both for buying but also the rental market. The show Yellowstone has taken all available rentals in the Bitterroot, and the rental supply is at crazy low levels. Good situation to have if you have a rental, but it's a tough time to try and buy. There's definitely a growing interest for commuting distances from Missoula and Bozeman, but I'm less familiar with the Butte/Anaconda area. Helena is growing a lot in popularity, the long-term prospects seem pretty good as it's the capital. That's one of the places I'd be looking. 

I definitely will, my second shot is in early April so I'm getting ready to start scheduling it!

Hey Kyle and Dylan, 

I'll be starting a monthly meet-up in Missoula in a few months actually, once we have a bit higher COVID vaccination rates and people feel comfortable meeting in person. Ryan (who started this thread) generously offered his space for a monthly meeting, I just got my first shot, so we may be able to get started in a few months. Anyone interested should shoot me a message and I'll start a list. 

Keith

I'm in agreement about Missoula being a much more reasonable market, but with a lot of the benefits of Bozeman. I've had success in Missoula in the last few years, and am about to break ground on two backyard townhouses. I was born and raised in Missoula, but lived in MA just like you Justin, we had a great seven years in Boston. Let me know if you're interested in connecting!

Looking forward to the next one! 

Hello All,

I'm an investor in Missoula, which like Bozeman is a really hot market right now. It's pretty challenging to find anything that meets the 1% rule here, but there are deal that occasionally pop up. 

I'm a landlord in Montana and have a lease coming up for renewal on 5/31. I'm actually hoping to move into the house myself, but I'm worried the tenants will not want to leave. Does anyone know whether I'd be able to evict if they refuse to move? Both tenants are young and in good health, and still employed as far as I know. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $326,000
Cash invested: $100,000

Converted the detached 2 car garage into an ADU, doing most of the work myself. Soon afterwards, we moved to our next house, and am currently renting the main house. We were running the ADU as a Airbnb and making great money cashflow. The whole property currently cash flows an average of over $1,000 per month. We put 20% down on the house, and paid for the ADU improvements in cash. I got a $70K HELOC on the property, and am using that for the backyard duplex I'll be starting soon.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $326,000
Cash invested: $100,000

Converted the detached 2 car garage into an ADU, doing most of the work myself. Soon afterwards, we moved to our next house, and am currently renting the main house. We were running the ADU as a Airbnb and making great money cashflow. The whole property currently cash flows an average of over $1,000 per month. We put 20% down on the house, and paid for the ADU improvements in cash, so we used to have have a lot of equity tied up. I got a $70K HELOC on the property, and am going to use that money for the down payment on the backyard duplex I'll be starting soon.

This is sweet! Right by Chico, and outside of Yellowstone, I bet Airbnb is working really well there. Are you tying in the septic for the new cabins into tanks that were used for the trailers?