All Forum Posts by: Mike S.

@Jen Allred I hope all is well in Missoula. Thanks so much for the recommendation. I'm not pursuing opportunities in Butte at the moment, but I'm sure this will be a big help to @Justin Ringer, who breathed new life into this thread. 

@Justin Ringer Perhaps you've seen it, but this is a more recent article from the Montana Standard that may be of interest to you: Real Estate Professionals Say Butte Market is Healthy. Granted, those interviewed have, for the most part, a vested interest to say the market is healthy. Nonetheless, it's food for thought. I definitely appreciate the depth of coverage the article affords.

@Justin Ringer That's awesome to hear that your friends are doing well with their properties--and that you have strong connections with boots on the ground there. That's definitely a huge advantage and, from my perspective at least, could eliminate or minimize some of the challenges that exist with investing in Butte. Your friends' experience and your observations remind me of this article I read from the Montana Standard when I was researching the area: "Shortage of Good Rentals? Tech Students, Landlords Address Issue." The article--and the associated comments--provide a brief glimpse at the landscape and issues surrounding the Butte rental market. Please keep me posted on your research and if you decide to move forward with investing in the area!

@Justin Ringer Greetings and welcome to Bigger Pockets! It's such an incredible resource. I ultimately did not move forward with purchasing a property in Butte and have shifted my focus to a different market. There’s much I like about Butte, but the surplus of properties and the high vacancy rates gave me cause for concern. When I was studying properties there more closely, I was looking primarily in the Flats. This was more the result of the specific properties I was considering than an aversion to Uptown. Hopefully, those currently investing in Butte or living nearby can weigh in on this thread and provide a more informed and current perspective.@Dave Passey and others, any thoughts?

What led to your interest in Butte? I think there can be some good opportunities there, I just felt they ultimately didn’t align with my goals at this time. That being said, I still like to check out what’s going on in the market there and love visiting Butte when I’m in the area.

Hi Dominique! Welcome to Bigger Pockets. It's great to hear about your plans for pursuing rental arbitrage in the Houston area. I can't speak from experience, but--if you haven't done so already--perhaps consider diving deep into for-rent postings on Craigslist, Apartments.com, Trulia, Hotpads, and other similar sites. The postings created by a property management company will likely include the property management company's information in the description (they may even have their name watermarked on all of the listing photos). Listings created by the owners who self-manage are likely to be less formulaic.

With regards to opportunities specific to Houston, consider local for sale Facebook groups and classified ads from the local newspapers and websites (perhaps the Houston Chronicle and the Houston Press have relevant listings). It may even be worth posting a detailed ad of what you're looking for and proposing in the "Apts/Housing" section of Craigslist and then reposting this every few days or each week. Your post may resonate with someone who is in the process of listing a traditional rental but who had never previously considered arbitrage.

Please keep us posted on this thread on how you ultimately find your successful leads. More than anything, I imagine it's a game rooted in persistence and casting a wide net. Best of luck!

@Byron Scott Congratulations on purchasing the triplex and kicking off this next chapter of your journey. That's so great to hear--and inspiring. Cheers to your continued success!

@Bill Buzzell, that sounds like it was a wonderful project. I hope you are able to work on more Craftsman-style homes and projects in the future. I appreciate the reminder to also see the potential for Craftsman trim and detailing in homes that weren’t originally built with them. I'll definitely be keeping this advice in mind. It seems like such a great opportunity to reinvigorate and give character to homes that currently lack it. And thanks so much for the encouragement to dive in on a Craftsman project. I greatly appreciate it!

@Jay M., thanks for the great recommendations and the insights on the primary sources from Stickley and others. I imagine it’s especially interesting to see how they proposed building the homes they designed and to get a firsthand look at their philosophies and perspectives when first introducing them to the world.

I had to laugh at your comment about the Cape Cod homes around you. I lived in New Mexico for a number of years and can appreciate your sentiments—I love adobe homes but it’s easy to overdose on them in communities where the prevailing aesthetics (and zoning) lead even McDonalds and Wal-Mart to adapt and appropriate the style (but, at the very least, these are still major improvements over their traditional facades). That’s great to hear that you’re going against the grain with your Craftsman home. Best of luck with the build!

@Jack Ni, I'm no arborist but I share @Brian Van Pelt's sentiments. Based solely on your description and the photos, you might be worrying about this too much. First, as you point out, the trees are your neighbor's--and, thus, their fate is ultimately his or her decision rather than your own. That's not to say you couldn't talk with him or her, but it's worth carefully considering the validity of your concerns before you do.

Second, if only the upper branches would come in contact with your property if the tree(s) fell directly on your home, the damage would not be nearly as catastrophic as if the trees were closer, causing more of each tree's trunk and weight/force to come in contact with your home. That's not to say they can't cause damage, but it's highly unlikely to jeopardize your tenant's life while in the home.

If the trees were clearly diseased or had a dangerous lean, there might be greater cause for concern, but this does not seem to be the issue here.

To put your mind at ease, consider taking a drive through some other neighborhoods near your property. I imagine you'll find many trees far closer to homes and capable of doing far more damage than your neighbor's trees. If anything, your neighbor's trees are helping enhance the value of your property by making the area beautiful, providing shade and protection from the wind, and providing valuable habitat for birds and other animals.

@Lauren Kormylo, this is incredibly helpful—thank you. I wasn’t aware of Arts and Crafts Home magazine and am glad the website is at least still available. The building technology library looks like a tremendous resource—and should I take the plunge on purchasing a Craftsman home, I imagine it will be invaluable. Old House Journal looks like an excellent resource as well.

That’s great to hear that you collect Arts and Crafts era items. My uncle has a Craftsman home. As a kid, there was always something magical about stepping inside it—the built-ins, mission furniture, and trove of Maxfield Parrish prints hanging on the walls left an enduring impression. I can definitely understand and appreciate your fondness for the Arts and Crafts style and era. Thanks again for all of your assistance and insights!

Do you have a Craftsman home? If so, I'll pose a question similar to what I asked Bill above--what have been some of the greatest lessons you've learned throughout your ownership of it? Thanks again, Lauren!