All Forum Posts by: Laura Kusto

@Alexander Price - good to hear it's gone well with them so far. Someone in this thread - early on - mentioned that they only attract foreign investors because their financing option is "highly aggressive and expensive" - did you find that to be the case? Or did you not need financing? 

And @Christopher Thompson, I'd be interested to hear what your experience is if you go with them.

I, too, am looking at investing with them - still in the initial stages where I'm seeking non-biased opinions and experiences but I am pleased to hear good feedback.

Hi Chris - looks like an interesting opportunity! Just chiming in because I happen to live in Big Sky, MT and saw your last note about the self storage/ski workshop here in January 2018. Drop me a note if you need any local insight into that - I have many friends who work at the resort. (And yes, you should go - it's lovely here! ) Aside from that, no experience to add as far as storage units are concerned.

I live in Big Sky, MT - it's a resort town and a huge 2nd home market. I know for a fact that my local bank here doesn't require it and it's likely because people have a hard time being in person. They even offered to FedEx me my closing docs when I was possibly going to be out of town for my last closing. Granted, those were traditional closings but I would definitely ask my bank. PM me if you want my mortgage broker's name and contact details - he's got an office here and in Bozeman but they have branches all over MT - Big Sky Western Bank.

Thanks @James Mc Ree and thanks @Wayne Brooks for weighing in!

@Kim Kaiser - I hear you! I live in Big Sky. I'm just getting started but I was reading your posts here just nodding my head. It's tough. I hate to say it but all these doom-and-gloom forecasts of a downturn are what have me half-hoping the skies will part a bit and there will be some opportunity. Although Big Sky and Gardiner aren't far as the crow flies, those darn mountains make it hard to meet up... but I'll throw it out there that it'd be great to meet a fellow Montanan investor who lives in the rural YNP vicinity at some point!

Hi @Amanda Smith! I'm a newbie too in the Bozeman area. I live up in Big Sky but get down to Bozeman weekly. There is an REI Club - you can find it on Meetup.com and we are meeting again this Monday at 6pm at the KW office right on 19th near Clark's Fork. Come if you can - I think your first meeting is free and then it's only about $6-$7/month for "dues". Lots of great people - I just went to my first one last month.

Thanks @Greg Hamer. Appreciate the insight!

I was approached by a buyer from out-of-state (relocating here for work) because he saw my Craiglist ad looking for buyers in need of creative financing options. He estimates they'll have about $200K to put down after their house sells where they live now, but SFRs where I live are easily in the $650K+ range, which puts them in jumbo mortgage territory and their credit score - at 650 - is falling short.

However, they pointed me towards a house they saw on the market for $638K. The owner put it on Craigslist so I called him and now know it's an inheritance (owned by him and his 2 siblings) and they're motivated. THE CATCH - there is a seller's agent. The owner just took it upon himself to do extra marketing. (Talk about motivated...)

I called the agent and saw the house today. It's move in ready but windows do need replacing and it's a bit dated so there is plenty of room to negotiate. My conservative estimate based on a recent appraisal of a similar home has me at $580K, at which price my buyers WOULD qualify for a conventional mortgage as that gets them below a $424K jumbo mortgage. I think we could potentially get it for even less, however.

MY QUESTION - what do I do? Is there a role for me to play? I am not an agent but I do know other agents. I could always hand the lead to them and my mortgage broker and build up some good future karma - but I'd love to make some money here. It's important to note that I DO NOT have money to buy it myself but would be potentially able to find other investors.