All Forum Posts by: Charles Tucker Kimbrough

My partner, Corey Meyer and I are thrilled to announce that we recently closed on our first joint property in Polson, Montana. This property is a 5 acre piece of land that contains two houses. These houses include a 3 bed / 2 bath, Turnkey Airbnb and a 2 bed / 1 bath, BRRRR. Our property is within a five minute drive to Montana's well-known Flathead Lake. Our goal for the property is to turn it into a popular Airbnb location as well as a destination wedding venue. We strive to provide a clean, safe, and convenient place to vacation or celebrate special occasions.

While this is our first property together, our partnership developed from a Bigger Pockets meetup at a coffee shop in Big Sky, Montana. We started putting offers on houses in Big Sky and after getting under contract after our 11th offer, we finally thought we had one. Unfortunately, the seller cancelled the contract because they were unable to secure other housing accommodations. We adjusted our strategy and went north to a beautiful place called Flathead lake and found what exactly we were looking for! We see this property becoming a mountain paradise as we plan to add yurts and other temporary structures. Corey has expressed interest in getting married at the property and making it into a wedding venue Airbnb location. I could not be more excited to see what the future holds for this property, and we are excited to expand our property portfolio in the near future.

Well for some reason you aren't able to directly contact an appraiser.

No it's financed with a traditional mortgage.

I have a deal that may be in jeopardy in Polson MT. We have been through 2 months of appraisals with 2 different appraisers both of which have refused to appraise our property because they claim that there is a lack of comparable properties in the area. The closing is 2 weeks away and I'm wondering if anyone has dealt something similar to this before and what they did to solve the problem? I also wonder if anyone here might be able to suggest a lending option in that area that would not require an appraisal?

I have a deal that may be in jeopardy in Polson MT.  We have been through 2 months of appraisals with 2 different appraisers both of which have refused to appraise our property because they claim that there is a lack of comparable properties in the area.  The closing is 2 weeks away and I'm wondering if anyone has dealt something similar to this before and what they did to solve the problem?  I also wonder if anyone here might be able to suggest a lending option in that area that would not require an appraisal? 

This week has really not gone my way.  I have been unable to secure a property in my dream area of Big Sky MT.  But I refuse to stop trying.  I decided to spread out my strategies by looking for lease purchase options or ways to build as much capitol without putting any money down but up until now have completely failed to get anything going at all.  But you know what I think that is a good thing.  Ever since I started my real estate journey this year my goal was to Replace the Income I receive from the military, but I have categorically failed at every strategy I have come up with.  My most recent strategy was to text about 50 different For Sale By Owner properties in areas that were in very cold markets looking for motivated sellers for lease options.  Wouldn't you know it absolutely no responses but hey isn't this the real world we live in? last I checked it is and last time I checked failure is a large part of living in the real world.  I Charles Kimbrough currently have a real estate portfolio with 0 properties in it but does that discourage me well slightly i'll admit it does, but it also motivates me.  I will not stop trying scraping and clawing until I reach my goal of 10,000 doors in 10 years.  I encourage everyone else out there to embrace failure take it at face value and keep working.

I have found a local agent in the area who has been absolutely wonderful.  I have also gotten pre approved by both a traditional lender and a private money lender for Big Sky, Bozeman, and Whitefish Montana.

Thank you all for your reply messages that has been very helpful.

I just received a call that my partner and I didn't get our most recent deal in Big Sky.  We placed an offer on a condo at full price and were pre approved with financing.  I assumed that pre approved offers were worth their weight in gold.  It looks like we were beat by a cash offer.  I am wondering how to re-think our strategy so that we can beat all other offers and put a place under contract?  Failure in real estate is the only thing I have experienced but it has only continuously made me work harder and harder.  Below I will attach the letter from the partnership I created in Big Sky that we have put on top of everyone of our offers.

Greetings Bigger Pockets,

My Name is Charles T. Kimbrough I recently moved to Big Sky Montana and have been trying to get a property under contract.  I was able to start a real estate partnership with the owner of a property management company in town and I have read so many success stories in real estate where the investor talked about how the first deal was life altering and propelled them into more and more deals.  But in my case reality hit and in 4 months of submitting offers I still don't have a lead.  But in my case I remain optimistic and have continued to read and learn about how I can create a pattern of success in real estate.  I will not lie I have spent several sleepless nights recently analyzing deals in different states to try and get something going it has been taxing physically and emotionally with lack of sleep and nothing really going my way.  But every morning I wake up and keep trying hoping that eventually my efforts bear fruit. 

About Charles T. Kimbrough:

In May of 2020 I graduated from Auburn University with a degree in Industrial and Systems Engineering. I am a U.S. Marine Corps Officer under contract as a student naval aviator. I commissioned as a 2nd Lieutenant in August, but my next officer training and flight school has been delayed until June 2021 due to COVID-19. Given the unexpected gap in my Marine Corp training, I work at Big Sky Resort a as a ski and snowboard instructor at the Madison Base. When I moved up to Big Sky a few months ago I was struck by the raw natural beauty of this place and I want a piece of Big Sky to call mine forever. I have placed several offers on properties in Big Sky but none have gone through yet. I hope  that my fortune changes soon.  I have a goal to replace my military income before I start to put me on the path to financial freedom early and I am confident I can achieve that goal. 

The reason for this post is I am encouraging others to share their current or previous struggles in real estate and how they either have or plan to overcome them.