Hello fellow members, new investor here from Minot, ND. Got military orders to move to Great Falls MT on Feb 2018 and I've heard about some BP members active over in that area. I'm reaching out to network, get connected, and hopefully be a part of that REI community. :)
I am primarily focused on buying and holding multifamily/commercial multifamily as my real estate investment vehicle of choice. I still have not gotten my feet wet into actually acquiring my first property; Been analyzing buy and hold deals in Minot and I may be doing it wrong (being new), but couldn't find anything viable. Seems like rents are too low for the prices of properties in the area. So for the remaining time I have here in Minot, I'm switching strategies and I will at least try to do a wholesale deal since I feel that that may be what could work. If I fail, at the very least I can feel good that I've taken a step forward to financial freedom and I've learned a lot of lessons from the experience.
This move to Great Falls is my opportunity to finally get my start in the buy and hold business and I'm also currently house hunting for a residential multifamily over there that I will house hack.
I'm pretty excited and looking forward to meeting you :)
I am not in that part of MT but believe your VA loan qualifies for a fourplex without any hassle. I've juat picked up my sixth rental down in Livingston MT and my passive income from rentals equals my pay.. I find myself still learning but getting better at this.
Yes, that is true and I am going to use my VA loan to acquire my multiplex. Thanks Nate!
First off, Thank You for your service. I am in Great Falls. If I can help you in any way let me know.
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I’m not in great falls but in Montana! Best to luck to you!
Thank you. I listened to BP podcast 249 with you in it and it was really good stuff. Seeing as you're in Montana and you did the same thing I wanted to do really motivated me. Thanks!
Welcome to MT @Jolu Talampas ! You should reach out to @Rory Engels, he has a few multi-family rentals in Great Falls, and I know he's looking to get rid of one of them - it's a duplex. He'd be a good resource to understand that market as well.
Sorry @Jolu Talampas , that name is @Rory Egelus. Not sure why BP isn't linking the name - but you can search for him.
@Egan Lohman Thanks! Nice meeting you yesterday. Looking forward to finally get my feet in the game.
Hello Jolu I’m stationed in Great Falls MT right now I’m new to the real estate game but I’d love to get in touch and see were your thoughts for the future are. Hope to hear from you soon.
@Benjamin Cook Nice! Well, I came from Minot and the rental market there is not very good at all. When I got my PCS orders to Malmstrom, I was fortunate to meet @Mark Caiazza who himself had just PCS'd out of Malmstrom and into Minot. He gave me a pretty good insight on how things are in GF and so I figured that if ever there was a time to actually get into real estate, this is it.
From what I can infer with people I talked to, GF has a competitive multifamily residential market. Residential multis get offers pretty much the same day or the next day they go on the market. Vacancy is pretty low as well, and as long as your rental is priced correctly, it's easy to find a renter. My strategy is to buy and hold and I would like to get into the commercial real estate game (small apartments). What's your strategy?
Welcome to Montana!
Welcome Jolu, once you're here and settled feel free to reach out to me. I'd love to get lunch sometime. I'm former military here. You ever been flyfishing?
Joe Tjader, Keller Williams
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