All Forum Posts by: Ryan Frey

Hi Everyone.  I am reposting the Missoula Montana meet up schedule.  For some reason the date was wrong.

@Amy Ranae  The only we have been able to make this work is to buy a lot with a single family house on it and build around that house.  The zoning has to allow for this and the lot has to be big enough.  By leaving the existing house on the property, the land costs for new construction comes in close to zero.  For example, we recently purchased a house and are putting 4 new 1400 ft sq houses on the lot (houses are close together with very small yards).  When we had appraisals done of the existing house with the new homes on the lot, the existing house appraised for $15,000.00 less that we bought the whole property for.  This made out per house land cost $3750.00.  Unfortunately, there is a finite number of lots in out area that carry the proper zoning and are the right size.  We may have to look to other markets in the future.  Hope this helps.

It's time for another meet up here in Missoula, Montana.  The last event was great with Jared from First Security Bank.  This event will be more casual.  Come and share goals for the next year.

Jared Keuhn at First Security Bank is another good one. He will be speaking at our real estate meet up tomorrow evening. Stop by if in town. 

Time again for another Missoula meet up.  We will have Jared Kuehn a commercial lender from First Security Bank here to speak briefly and answer questions.

Hi @Matt Kelly,

Congrats on your first post.  I run a meet up here in Missoula that meets every other month.  Next meeting will be end of August.  It's a good place to meet other investors and talk shop. I can give you recommendations to fill out your team as well.

We recently had a hard money lender back out of a land purchase deal we had under contract a week before closing date.  We had already extended closing by thirty days at this point for due diligence as the property was industrial land the we plan on converting to residential development, so environmental revue and such needed time to come through.  Luckily, we had presented this project to another lender earlier and they were willing to fund the land last minute.  I know it is normal to shop deals around to investors, but is it normal to have back up investors on projects and how would you approach someone as a back up without offending.  Basically, how do I avoid the stress of watching a half a million dollar purchase disappear and the frantic begging for money last minute.  Or, is this something we all have to deal with time to time.

@Logan Aardrup

Hi Logan,  I am an investor in Missoula with some buy and holds and development projects currently.  Reach out to me when you get to town.  I also host the Missoula Real Estate Investor meet up, which meets every other month.  Montana, like most of the country, is booming.  Deals take some effort, but are out there.  I look forward to connecting.

I set up a meet up for June 28th at 3102 West Broadway Suite A at 5:30.  

Come join us for out 3rd BP meet up.