All Forum Posts by: Egan Lohman

Hey @Charles Lewis Pinto - If you plan to invest out of state, you should start by reading David Greene's book on long distance real estate investing. It's priceless.  

https://www.biggerpockets.com/store/long-distance-...

If you're interested in the Butte/Missoula area of MT, send me a PM and I can recommend a few team members.

Hey @Philip C. - Have you read @David Greene's book on Long Distance Real Estate Investing?  It's worth it's weight in gold and not only addresses your question directly, but gives you all the criteria you should use for selecting an out of state team (i.e. realtor, contractor, property manager, lender).  You can find it here at BP:

https://www.biggerpockets.com/store/long-distance-...

Best,

Egan

@Josiah Pisel - Don't you have a local CPA?  

Hey @Rosemary Burton, if you're looking to send a private message to multiple BP members, you can do that by clicking one of the member's name and going to their profile.  Then, in their header photo, top right, there should be a "message" button.  If you click that, you can send them, and up to 9 other members a direct message.  

There's probably a more direct way to get there, but I haven't found it yet :).

Hi BP community!

I'm looking for referrals and/or advice on property management companies that operate in Butte, Montana.  My partner's and I are looking to purchase multi-family property there for long term rentals.  Thus far, I've called the PMs I found on google, and have yet to connect with any of them.

I'd love to hear your feedback, positive or negative! 

@Trevor Ewen - I was afraid that might be the case :).  Fortunately I'm a software engineer in real life so I'm sure I can hack something together.  I'll post my solution here once I've got it working...

Thanks for your reply!   

Anyone have advice on how to achieve the following:

I have a list of leads in excel.  I bought this list from an online list source.  It contains property address, owner name, etc..  But it's a full list for an entire city.  I want to target leads in a specific area.  So I need a way to import my full list to a map view (like google maps), and then be able to select just the markers that fall within a few square blocks.   Google maps lets me import no problem, but I haven't found a way to export just a subset of those leads.  Anyone found software or an online tool that can do this?

This is a fully remodeled (winter 2017/2018) triplex in the heart of Great Falls, MT.  Each unit is separately metered. The property includes a detached 6-car garage (separate individual garages). NEW roof, flooring, drywall, paint, cabinets, fixtures. Gross rents BEFORE remodel were $2,600/mo which did not include use of the 6-car garage. Anticipated gross rents with new tenants is $3,000/mo. Excellent investment rental property.

• Individually metered
• 6 car garage, detached with separate bays
• New roof (Sept. 2017)
• Unit 1 and 2 FULLY remodeled down to studs (winter 2017/2018)

Click here for pictures and pro forma!

Unit 1:

• Basement unit
• 1 bed
• 1bath
• $600/month (pre-remodel)
• Tenant pays gas/electric

Unit 2:

• Main floor unit
• 2 bed
• 1 bath
• $870/month (pre-remodel)
• Tenant pays gas/electric

Unit 3:

• Upstairs unit
• 4 bed
• 2 bath
• $1,100/month (pre-remodel)
• Tenant pays gas/electric

Financials:

Purchase price: $312,500

Monthly gross rent: $2570

Monthly expenses: $759

• Taxes: $178
• Insurance: $50
• Utilities: $145
• 5% maintenance/vacancy: $129
• 10% management:  $257

Monthly net rent: $1811

NOI: $21,732

Cap Rate (with management): 6.9%

Cap Rate (without management): 7.9%

These cap rates are all PRE-REMODEL!  Rents can and should be raised!

Click here for pictures and pro forma!

This is a great turnkey duplex located in the heart of Great Falls MT.  Excellent investment opportunity with the Air Force Base, College, and Hospital all close by.

Seller is motivated!  Significant discount for quick cash close!

The property includes a detached 2-car garage with brand new garage doors installed this fall. W/D hookups in both units with existing W/D included with bottom unit.

Unit 1:

• Main level
• 2 bed 
• 1 bath
• Current rent $1,000/mo (lease ends August 2018)

Unit 2:

• Basement level
• 2 bed 
• 1 bath 
• Current rent $665/mo ($900 with new tenant - utilities included, currently month to month lease.)

• $1,900/mo gross rent potential
• $650/mo current expenses which includes: taxes, insurance, utilities, 5% maintenance and vacancy and 10% management. 
• 10.2% Cap rate - if you manage the property yourself
• 9.5% Cap rate with property management

Click here for pictures and pro forma!