All Forum Posts by: Keith Miller

I'd personally pull out as much cash as you can while you still live there using a cash-out refi, then have it professionally managed as a STR. The numbers of visitors to Glacier is only going up and up, I'd personally want to hang onto this property for long-term appreciation.

I agree with your guy's love of this beautiful state, that's why I live in Missoula! I was born and raised in Missoula, and now invest here. I'm looking for multifamily to buy as well, and in the meantime I've been focused on infill development and building my own small multifamilies, I'm in the middle of building two backyard townhouses. I'd definitely be interested in chatting about the opportunities here and how to find and assess properties. Welcome to the community!

Hey Kade,

Thanks for reaching out, welcome to the Missoula Real Estate Community! I'm not sure I understand your question. Do you want to know the laws about wholesaling because you're interested in becoming a wholesaler? Or are you wondering about the laws because you want to buy a wholesaled property? 

Either way, you'd be a great fit for the Missoula Real Estate Meetup, we meet on the 18th this month, learn more here: https://missoularealestatemeet...

LVP and tile are the two best methods in my opinion, both are very durable and that's key. 

I'd consider xeriscaping by putting down river rocks, crushed gravel, or decomposed granite for a portion of the landscaping, as rocks are a lot easier to maintain than grass. 

Did you talk to a commercial lender at a bank, or a mortgage broker? With your unique situation, I'd focus on talking to mortgage brokers, as they have a lot more flexibility since they can shop around your mortgage to different banks. I'd start with that, talk to Pat McGowen in Bozeman for a recommended mortgage broker, he runs the Bozeman Investing Meetup. 

Then you may be able to find a fixer upper between Bozeman and Big Sky that you could house hack with, I still think that's a slam dunk strategy, if you can find a house in your budget. 

Found this really interesting article on the increase in construction, showing that in the West, construction of single and multifamily is up almost 20% year over year (Link). To look more specifically at Missoula, CRE's 3rd quarter report showed that just under 1,200 permits have been issued in Missoula County, and that was at the end of September. We'll likely be closer to 1,500 by the end of the year if the trend continued since September (Link). 

When I've talked to a few property managers and developers, they've all uniformly said that it will be a drop in the bucket, since our total deficit of housing is over 2,400 units, and many of these permits will take years to build (Link). 

I'm just curious what everyone on here thinks. I'm still buying myself, I just bought a single family and have submitted my permit for a backyard ADU, but I'm wondering what everyone else is thinking.

Our speaker this month is Paul Burow. Paul is the General Manager of Professional Property Management, one of Missoula's largest property management companies. Paul has a long history managing construction, and has experience in very large construction projects. As a property manager, he has an excellent sense of the current state of the market, and can share information on data around vacancies, market rents, etc.

The Missoula Real Estate Meetup has three main goals:

1. Learn more about the Missoula Market

2. Make authentic connections

3. Share strategies and information

As always, there will be no selling of any products or services, and it's always free to attend.

We meet the third Tuesday of every month at the Highlander, at 6:00 PM.

Learn more at https://missoularealestatemeet...

Ton's of jobs here in Missoula Montana, and a great real estate community to join, come on down!

Great question, I'm not super informed about this specific situation, but I can recommend Kevin Jones as an affordable and highly knowledgeable real estate lawyer in Missoula, he'd definitely be able to answer this for you. Sorry I couldn't be more help!