All Forum Posts by: Melissa Zimmermann

Hi Claire, glad you found this forum!  I love Billings, MT glad you are starting your investing here :)

@Vance Foster definitely, some of the multifamily is a bit overpriced, but those are usually the ones that have been on the market awhile. If the listing agent isn't knowledgeable about investment property, they tend to use a per sq ft price comparable to SFR in lieu of an investment model to price the property. Properties, that do pencil out, are usually grabbed pretty fast OR they don't even hit the MLS. You can still get some good buys off market. Also, alot of the property in Billings that goes on the market is being underrented. When you do your calculations, if the tenant is on a month to month, definitely use potential rents, not current rents. Real Estate's a long game, and you can't expect it to cash flow in year 1, not in this market. The client investors I work with are always thinking outside the box, for ways to do a value add, to get those rents higher. There are currently alot of investors in Billings, which is making it hard to get those good deals. It takes some digging but you will find property that works, hang in there.

@Keith Miller being a non disclosure state does have it's positives.  If we were a disclosure state it would be much easier for everyone to obtain the information nationally, including Zillow etc.  You would see a huge increase in competition in ALL aspects of real estate in Montana.

@Barron Peper Hi Barron, thank you for circling back.  No updates.  Non disclosure states make it really tough.  Driving for $$ is about the best I've found, and that's marginal.  Technically, in Montana, you can't use the county assessor's information to mail out solicitations.  You can always go door to door, but renters and vacancies would be more difficult.

@Matthew Hubbell The last I had heard it was tabled/ or died for a variety of reasons.  

@Mark McCollum did you see this one pop up in the Bigger Pockets marketplace?  Maybe your numbers will work and it's close by to rehab.

120 S. D St., Livingston, MT 59047

@Mark McCollum I feel your pain.  Billings is a tough market to make the numbers work.  @Account Closed is right, it helps to look for off market deals. The sellers both off market and on market know they're in the drivers seat, which is making it exceptionally difficult. Are you in the Billings area? Call or email me and we can visit. I have a couple of off market deals but I need to know whether you plan to do rehabbing yourself, etc. Also, I have worked deals with sellers who offer seller financing. This is nice starting out, because you can eventually BRRR the property and pull your equity out for the next property. Sometimes you just have to keep turning over stones and with a little patience, you will find the right deal. No matter what area you are in, I would advise finding a Realtor who understands investing.

@Gene Hauck I didn't organize the last gather, @Joshua D. did.  It was a few weeks ago, in Laurel.  I was unable to attend.

@Heidi Goehri the Billings market is as crazy as the rest of MT.  The $200-$250 price point is extremely competitive and  will result in a multi offer situation.  Analyze your deal going in and prepare to offer at the price point that works for you, whether above or below asking price.  We have a zero vacancy rate and has been that way for several years.  If you have questions or need help in the Billings or Yellowstone County area.  I would be glad to help.

@Joshua D.

I would say any and all of your list.  Even experienced investors can learn new tricks and tips.  Any platform to share experiences and make those connections between buyers and sellers.  With this lack of inventory, seems my clients' 'wish list' for both buyers and sellers keeps growing.  If we can do some matchmaking that would be awesome!  I have an investor who wants more property in Red Lodge so 

@Jesse Hall we would love to have you.