All Forum Posts by: Keith Miller

I’m getting ready to install a kitchen in a downstairs unit of mine, but for code purposes it will be classified as a “Wet Bar”. From my contacts with the city, I can install a sink no problem, but I can’t put in a 220v outlet for an oven, as then it’s classified as a full kitchen. Does anyone have any ideas for a workaround for this issue? In order to get approved for a full kitchen, I’d have to separate all the plumbing between the upstairs and downstairs units, which would be a prohibitive cost. I’ve been running it as an Airbnb, but I would like to switch it to a rental so a kitchen is needed.

I’m wondering if anyone has any ideas for dealing with this. I’m in Missoula Montana, but any ideas from anywhere in the US are appreciated.

Hey Meghan,

I'm curious what the address is, I've done an ADU build here in Missoula, and I've just broken ground on a couple of backyard townhouses. I could give you more specific advice knowing the address and the zoning, and honestly would love to dig into the details and see what your options are. I'm trying to get my reps in for analyzing potential deals and this sounds like a great one to dig into.

Hey Kyle,

Yeah that makes sense, plus it never feels great to jack up the rent on existing tenants. I'm in the process of renewing a lease with one of my tenants and keeping the rent the same because she's been great. 

Once you've renovated it the HELOC is a great choice, my mortgages are also owner-occupied, so it usually makes sense to keep that mortgage in place and use a HELOC to access the equity.

Good luck with the renovation! Are you doing it yourself or hiring it out?

Nice Kyle! I remember seeing this one on the MLS. It's a great neighborhood to be investing in, both my houses are in that general area. Doing it as an FHA was a great idea, then you could save your cash for the renovation. Have you already rented out the other two units? If so, what did you end up getting for rent?

That's great growth, nice work! Are you finding all of your properties off market, or are any from the MLS? Also, what type of financing are you using for the down payments on your mortgages?

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

Shout out to Kevin Jones, who was nice enough to present in our June meeting, and shared some really useful information about how to structure seller-financing deals. Our next meeting will be July 20th at 6:00 at the Highlander. Our speaker is Courtney McFadden, an investor-focused agent who will share with us the current state of the market, what types of deals she's seen be successful lately, and answer any question you have. Please let me know if you have any specific topics you'd like her to cover, hope to see you there!

This is exactly the topic I've been wondering about Melissa, thanks for bringing it up. I was just getting ready to start using ListSource then realized that they don't sell any lists in Montana. I've reached out to Melissa Direct but don't have very high hopes. Reaching out to an investor-focused agent is a really good idea, thanks Brian. 

This was about a year ago, did you ever figure something out Melissa?

@Melissa Zimmermann

Thanks a ton Kevin, I've reached out to them directly with invites. We're actually going to have Leslie Laird from Juniper Capital speak in November, and she said she's gonna come to our next meetup on June 15th, so hopefully you can meet her there! 

Hello,

I'm running an RE meetup in Missoula Montana, and am looking to invite private lenders and hard money lenders so we have have that aspect of the RE community represented. I'm having a hard time finding them, when I do Google searches, all I find is national home buyers, which isn't what I'm looking for. 

Does anyone have any recommendations for how to find people like this?

Much appreciated!

Keith

Hey Tara,

I just saw this post, hopefully you can make our Missoula Meetup on June 15th, Attorney Kevin Jones is speaking and is specifically going to focus on the different types of seller financing and how to navigate them, and answering questions afterwards, so it's spot on for you. Hope to see you then!