All Forum Posts by: Olivia Cannizzo

@Andrew Postell - thanks for this advice - super helpful. Current living situation is with SO and good friend - who would likely move with us to new place. So rent would stay the same as our current place - and I'd have two rooms essentially cash flowing. 

I think it's probably best to put the $ I have currently sitting in HYSA into a CD or something of the sorts for the next year+ instead of trying to rush into buying a property and then moving - hard because it feels like there is never the right time to get into REI and I just need to jump! But, def understand what you're saying on the out of state piece.

Thanks for this advice...makes sense. We'll be moving back to CA - and in the grand scheme of things, housing will be much more expensive there and most likely a larger barrier of entry $ wise if I were wanting to house hack. 

One benefit to buying now would be that we'd rent out additional bedroom to current roommate - so we wouldn't be paying more in rent than we are now. But yes, 20% locked in plus often more at closing might not make much sense in the long run. 

Currently renting in Bozeman, MT. Thinking about buying instead of renewing lease, but we'll be moving in about a year regardless. So, if we bought property it would become most likely a long-term rental next year.

In Bozeman - all we can afford right now would be a condo or townhome. With 20% down, mortgage, HOA, etc would be sitting right around $2500-2700/month range. Similar properties that are long-term rentals are currently renting for just a bit under that. How would you think about this buy? While we'll be living in it for the next 9 months to a year, any purchase will ultimately be a strategic investment. With townhomes and condos not appreciating as much and rates still high - I want to make sure we're making a good long-term decision by buying instead of renting.

So - how would you approach this situation? What numbers should I be looking for (is grossing $100-200 a month once a long-term rental too risky/not beneficial)? First time home buyer so would really appreciate all the advice and help I can get. It's scary to just go for it - but maybe that's what I need to do? Or - looking into different areas in the US to invest in would be another option as Bozeman is a tricky market. 

Currently renting in Bozeman, MT. Thinking about buying instead of renewing lease, but we'll be moving in about a year regardless. So, if we bought property it would become most likely a long-term rental next year. 

In Bozeman - all we can afford right now would be a condo or townhome. With 20% down, mortgage, HOA, etc would be sitting right around $2500-2700/month range. Similar properties that are long-term rentals are currently renting for just a bit under that. How would you think about this buy? While we'll be living in it for the next 9 months to a year, any purchase will ultimately be a strategic investment. With townhomes and condos not appreciating as much and rates still high - I want to make sure we're making a good long-term decision by buying instead of renting.

So - how would you approach this situation? What numbers should I be looking for (is grossing $100-200 a month once a long-term rental too risky/not beneficial)? First time home buyer so would really appreciate all the advice and help I can get. 

Thanks for the info, Stephanie! Curious, how do your clients find the area in the wintertime? Does it slow down quite a bit, is it even profitable? 

In your experience, what would you recommend for a first time STR investor? I'm in the Bozeman market - where it's already taken off and median home prices are sitting around $800/900k for poor new construction homes. It doesn't feel worth it to me. I follow some investing coaches, who seem to think automating processes are just as sufficient, so you don't need to be local if you hire out the right people and tools. Thoughts?

Hey all - I am wanting to invest in real estate - and am also a first-time home buyer. From some research, I think doing a STR would be the best cash flowing asset for me. I have about $80k saved right now - will have $100k or so in next few months.

Are there specific areas I should be looking in? Probably won't put all cash down and would put 20% down on something - if that was the best option. Was looking into Kalispell/Columbia Falls, MT due to Glacier traffic, Finger Lakes area (Watkins Glen, Burdett) - but seems like it wouldn't pay off in winter. Any ideas out there - places I should look, things I should be thinking about??