All Forum Posts by: Dandan Weinrich

Got it. Will pm you. 

Hello, I am an investor and STR manager in Michigan. Interested in exploring big sky, Bozeman area to invest in. Is there an operator willing to share some info with me? I will be using a local pm but I want to connect with a PM before I start searching with a realtor to get a sense of the area to focus on. Most realtors do not have the best sense of revenue and returns :-D thank you

Looking to connect with PM and investors in Big SKy to explore opportunities. I am interested in Big sky as a market to invest. Any PM or realtor can provide some color ? thanks (I am a STR investor and operator in Traverse City MI).

Traverse city has str limit in downtown area but certain zoning are exempted. Township like eastbay and long lake are more friendly with a straightforward permitting system. Garfield township is a straight no str. There are lots opportunities in easy bay township or downtown Condos (where str is allowed.) direct west of TC has lots str experience opportunities (water front/ farm house , wineries), direct east close to Williamsburg has great opportunities even for long term summer rental to the horse show participant (June to Sep). It is a great market, yes it is expensive but I feel tourists are paying big city dollars to be here in the summer, ADR on return is very attractive. 

What criteria are you using for your list ? Thanks 

Congratulations! sounds like a dream. Check with township first as it is probably zoned Ag. which different township have different rules on what you can do on your land. Check how many splits do you have, maybe you can split and build on it to rent. If it open field, can it be rent out for hay  to keep it ag zoning for low tax? Lease out the land for other farmers to grow crops? 

Hello Landon, I am happy to share with you my experience. I own and operate 4 Str and expanding into a few more this year. I am NOT a realtor and I found it was not easy to find a realtor who can speak my language. If you find one let me know too :) 

@Ryan Anderson

I am interested in hear about the Long Term opportunity as well. What type of Cash on Purchase PX return is long rent able to achieve in TC?

I have str both in downtown and eastbay area. I feel downtown return are dropping due to higher purchase price at the moment. New downtown condos are not cheap , I can only see 10-15percent return there which makes str less appealing. Maybe I am missing something ?

@Brandon Slaubaugh

Garfield has a tight str restriction now, did you checking the zoning on your lot? If it is allowed (c1-d2) , I’d say same house is a good way to go! At that area (id say a 2bedroom , new /modern house gross about 30-50k , depends on total headcount , yard , how you market it , where you market it. Etc).

I invest in TC, actively manage str and have 3 str and growing. Winter is not bad for me even during Covid :-p  I am happy to answer some questions you have and share a little bit of local knowledge with you! I have a realtor who helps me just looking to locate str but you need to have some in-depth knowledge of the in and out of the local market. Market is hot, I missed on a few and closed on a few. I was suppose to close on another one on Friday but just read entire asso docs from 1970s and find out it doesn’t fit my intended use for it when seller agent flat out false advertised it !!! So doing your though research on each one property is very important !!!