Rental Property Investor · Colorado Springs, CO · Member since 2018 · 15 posts · 4 votes
Just want to start a dialogue with investors in Montana. I am moving to Missoula in August and want to learn the market and meet some new people up in Big Sky country.
Potential topics:
Best cities/towns to invest.
Best neighborhoods in Missoula.
Missoula in general. Restaurants, night life, outdoor activity.
What specifically do you do in real estate investing?
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 am not from Missoula but do invest a bit here in the great state of Montana. I like Montana cuz of the outdoors and the laid back community feel that most places have here.
I’m a buy and hold-er and a flipper. What aye you looking into?
That’s awesome! My girlfriend and I are so excited to spend time in Montana. We love being active outdoors so I think the community and area will be perfect for us.
I am also a interested in buy and hold flips. I am looking to learn as much as I can before we get to MT in August. How long have you been involved in real estate up there?
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.
Best towns around MT i think would be good investment areas would be Missoula, Butte, white fish, Helena.
I know someone is going to mention Bozeman but I personally think the real estate there is over priced.
The desirable area in Missoula would be the South hills but if you can get a killer deal closer to the University i would say jump on it. The North side of town is all right but from what i can tell its less desirable and iv been seeing landlords offering the first months rent half off or free. Thats usually a tell tale sign that landlords are having a tough time filling vacant units on the North side of Missoula.
Night life is catered to the college bound down town and you could try a microbrew every day for the next 6 months and never have the same beer twice.
Iv personally been doing my best to hike down every trail that surrounds Missoula but so far i havnt hit all of the trails yet and iv lived in this town for years.
Most everything else to do in town is either word of mouth and there are some publications that try to keep up with current happenings in and around Missoula. Iv heard one new person that moved to town say that there is never a time something isnt going on that he could do.
I lived in Missoula back in 2013-14! I will be up for a few weeks in August! I would love to meet up about investing in Missoula! My father in law has been a commercial contacter in Missoula for more than 20 years!
@Logan Aardrup, I grew up in Lolo (kind of bedroom community south of Missoula), and still have family in Bitterroot valley (further south). I have done some investing in Missoula surrounding area, but not in Missoula. Although I live in Bozeman, I would agree with @Anthony Wienke that it is an equity market and cashflow is challenging (i.e., overpriced) I would argue that Whitefish / Kalispell is similarly to Bozeman in that it is more of an equity market, but you don't have to go far to outskirts to find better prices. Butte can be great cashflow, but be careful as this market has slower growth (arguably no growth) than many other cities in MT so vacancy and lack of appreciation are concerns. Missoula, Helena, Billings, seem to me to be more balanced (less cashflow than Butte, but not highly priced as Kalispell or Bozeman). Billings is unique as it is largest city, it also gets some impact from ND oil boom (then bust, now starting to boom again). Then you have rural MT, lots of small towns. Great deals to be had in small town MT, but vacancy can be challenging, also limited service providers in those areas (property managers, handmen, etc.). That is my quick take. Hope the best for you as you transition to Missoula and work toward more passive investment income. Best.
Missoula is a fun place to live and always has excellent activities going on. Beautiful hiking and outdoor activities surround us. I really enjoy Missoula.
Real estate investing there has been difficult for me personally here. I know other people have been very successful. @Ryan Frey up above has done some really cool projects in town that I have personally walked through and love what he is doing. Really making the most out of each piece of property. I think that is one of the most important aspects of investing in an equity market as @Patrick McGowen called it. He is right that the majority of properties are overpriced. Finding the right properties and know what can be done with them to make the most out of it will take time to figure out, but seems like it can be worth it in the end.
But, just like any other hot market, there are deals out there, they just sometimes take a little bit more digging to find. Creativity and flexibility with your methods will be key to maximizing your potential on each deal.
Feel free to reach out at any time! Hope you enjoy Missoula!
Hi there, figured I would introduce myself. I moved to Missoula in 93, purchased my first investment properties in 96. Took up property management as a full time career in 2005. Opened up my own firm in 2012. We manage about 120 doors. I am also a licensed a realtor. Would love to connect with any developers or anyone interested in a buy and hold also in need of professional management services.
I just listed a 3/1, central Missoula, that is zoned RM 2.7 which would allow for an additional home on the property. If anyone is interested, reach out. Asking $234,900.
Best neighborhoods.... Well, that depends on what "best" means to you. If you mean most bang for your buck, I would take a hard look at East Missoula. It is really coming around and prices are quite a bit lower than in Missoula. Just a hop, skip and a jump from the U, easy access to downtown.
Missoula in general, our downtown is amazing. Great restaurants, breweries, distillaries, boutiques, galleries, etc. Outdoor activity, trails, rivers, mountains, hiking, biking, fishing, floating, camping, the options are endless.
@Logan Aardrup there's definitely some interesting stuff not in Missoula in terms of vacation rentals for hunters, nature lovers, hot springs, etc my family has owned a few different spots there but never in Missoula. You just need to find a good manager or B&B it with a live-in manager/host.