Looking for a Missoula, Montana investor friendly realtor

8 Replies

Hey Missoulians! 

I have been doing real estate investing for a while in the Dallas, TX area but now live in Missoula. I have been getting ready to do a flip that my Missoula wholesaler partner found but I am without access to the MLS up here and have a tough time calculating out an accurate ARV or finding good comps.

I want to find an excellent realtor to work with me that would also be able to list my flip properties. I would hope that they do real estate investing themselves, but that is not mandatory. 

Anyone have a recommendation of someone that would fit the bill for this position? I am hoping to be able to establish a long term relationship that will be mutually beneficial. 

Hey Dave, sorry I can't help you with the realtor search, but just wanted to drop in and say hi. I'm an hour north on Flathead Lake. Coming from an out of state perspective, how's the Missoula market in your eyes?

Hey @Kyle Nelson , I know where Polson is located. I have family up by Kalispell. Missoula is definitely an interesting area. The prices all seem to be outrageously high for retail prices, but if you can get a good property under market value, then you have a good situation. Rentals seem to be doing very well (probably because purchase prices are so high compared to the low paying jobs). Rentals would be the goal for me long term around here because they will continually be full around here. We just happened to come across a property that I think would be a great for a flip but would be tough for a rental for my comfort level. From my preliminary estimates I believe it would have an ARV well into the 400ks and probably needs about 20k in repairs and we are picking it up for 300k. Good flip, too high for a rental for me.

How do you feel about Polson for investing?

Hi Dave, we used Kent Pratt from Windermere for our home purchase.  He is a top producer and also invests in multi family himself.  He has a lot of experience and is very knowledgeable.  I would definitely recommend him.  

Also, my husband and I are hoping to do a flip in Missoula as well.  If there are any decent deals that you have to pass on, please send them our way! 

Welcome to Missoula!

Hey @Tara Lindgren

I will definitely check out Kent Pratt and see if it will be a good fit for he and I. Have you only worked with him on your personal residence or have you done any investment deals with him as well?

I will definitely keep y'all in mind for any deals we come across around here! What kind of specifications do you have?

Originally posted by @Dave Passey :

Hey @Kyle Nelson, I know where Polson is located. I have family up by Kalispell. Missoula is definitely an interesting area. The prices all seem to be outrageously high for retail prices, but if you can get a good property under market value, then you have a good situation. Rentals seem to be doing very well (probably because purchase prices are so high compared to the low paying jobs). Rentals would be the goal for me long term around here because they will continually be full around here. We just happened to come across a property that I think would be a great for a flip but would be tough for a rental for my comfort level. From my preliminary estimates I believe it would have an ARV well into the 400ks and probably needs about 20k in repairs and we are picking it up for 300k. Good flip, too high for a rental for me.

How do you feel about Polson for investing?

 Yeah, I think Missoula is a little ridiculous right now as well. Polson is a mixed bag, if you can flip a home that will sell for under $200k you will move it fast.  Inventories are pretty low right now and everyone thinks their property is worth gold. I’m a newbie, but I do know that there are a couple of professional flippers from kalispell that try to get off market deals and go that route. Rental market is pretty slim as there’s not high enough wages to support high rents, but there are very few sfr’s available right now.

Originally posted by @Dave Passey :

Hey @Tara Lindgren, 

I will definitely check out Kent Pratt and see if it will be a good fit for he and I. Have you only worked with him on your personal residence or have you done any investment deals with him as well?

I will definitely keep y'all in mind for any deals we come across around here! What kind of specifications do you have?

 @Dave Passey,

Yes, we have only used him for our personal residence as we are just getting started in real estate investing. Missoula seems to be pretty expensive right now so we are also looking in other areas we are familiar with. Our long term goal is to acquire rental properties but, ideally we would like to find a flip here in Missoula to build capital. We'd like to find something that would have an ARV in the 250-275k range. That seems to be the lower end of the spectrum for the market here.

I look forward to hearing about your success here in Montana!  Happy hunting!

I agree with all the points made about the MT real estate challenges. My wife and I live in Polson and started various real estate options. We bought a house hack for our residence. We bought a duplex to renovate and rent with our IRA and we're learning how difficult and expensive getting work done costs.

Hey Dave - 

You may have found a realtor by now, but in case you're still looking, I would highly recommend Shannon Hilliard with Ink Realty. She's an avid investor herself, and she has helped us analyze lots of properties and represented us on our most recent multi-family purchase. She's very knowledgeable, hard working and tells it to you straight. We interviewed several agents before choosing her. We came across Shannon 6 years ago when she was representing the sellers of our current house - she was a total pain in our side as buyers, and we later recognized that she had done a stellar job representing her clients (who we bought our house from). Definitely worth a phone call and cup of coffee with her.

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