All Forum Posts by: Ian Boyd

@Jay Hinrichs

I agree! My main points are the cost of living, taxes, expensive education, and number of people. No doubt the redwoods of California can get very rural and are absolutely gorgeous.

Every time we visit I think it's cool how the the urban areas just seem like one giant city to me. It's very different than anything you will find out here and I have decided it's not ideal for what I want. That being said we will probably have a str in California for the coldest part of the year. I love having seasons, it really makes you appreciate the nice days. I'm a big skier. Most people from warm climates don't believe me that there are nice winter days but their are! The -20 is about 14 days of the year which is bearable but is certainly not for everyone.

@Brian Garlington

In Montana, because of how rural it can be, you really have to pick a good location and you can find can flowing properties. I would bet this rule applies to more mountain states that just Montana. That being said, I would not blindly purchase any property anywhere without doing due diligence.

Mountain states are in demand for recreational activities (skiing, hiking, hunting, fishing, biking) that are hard to find and can be overloaded with people in big cities. Also a good place to have a second home, or str, in the summer for seasonal elderly people.(low humidity and lots of golfing).

I believe the influx of people to these states is everyone looking for low cost of living, cheap education, and a friendly, beautiful, environment. Not just millennials. My girlfriend is from Santa Cruz and moved to Bozeman, MT for school and now she doesn't want to go back to the city.

@Meghan Macur Welcome! I live in Bozeman and am a Realtor with Keller Williams Montana. I have listened to almost all of the BP podcasts and I am hoping to get into REI as soon as I can. If anyone in this area has questions about the Bozeman market or if you are interested in partnering/collaborating feel free to reach out.

@Mitchlyn D.

In my city you can only have 2 dogs unless you have a breeders license.

I have lived all over Montana, the state can vary significantly depending on where you go. What areas are you interested in? I would be more than happy to give you advice along your journey. Feel free to PM me anytime!

Well it seems you have the power here. Shes a RN and the regulating board catches wind of it she will be fired and banned immediately. I would evict after a warning because good tenants are hard to find and shes clearly not a good tenant. Keep in mind though it could have been a friend without permission. Definitely give a warning and be honest with her. 

@Jeff Byrne. Read never split the difference. It's great book about negotiating and it changed my outlook on negotiations and just communication in general. He talks about doing an accusation audit or finding out what their concerns are and being prepared for them as well as using mirroring techniques. The author was the top hostage negotiator for the FBI for years and it's a fun read. It's also on audible so you can just listen to it, like I did.

 I agree, my only thought is that should the economy go south so can cash flow. Obviously it depends on your market and about a million other factors.

I think it depends on the value of the home, how much it would appreciate, and how long until the mortgage is paid off to 20% to stop paying private mortgage insurance. Once your not paying PMI you may start making money and or at least breaking even. Doing this is going with the risky assumption that appreciation is going to be more than the amount of money you sunk into this. If I was even going to consider this I would speak with a good agent that is well versed in the rental market in your area. Find a good agent if you dont already have one. I am an agent in Bozeman MT and my father is an agent in Billings MT @Patrick Culleton's comment pinged my notifications when he said "Billings"

You may also be able to sell the rental and put the built up equity into your new "house hack" and also to make sure you get the 20% down. You can put the info into a calculator to see how much you can save on interest by doing this. There is also such a thing as Interest Rate buy Downs. Depending on your lender, its possible to buy down your interest rate with higher fees at closing to effectively save a lot more in interest in the long term. Once again, talk to your agent and lender. I recommend going to more than one lender as some are more willing to work with you than others.

Are you guys still meeting twice a month? I would be very interested in joining you guys. I have been listening to bigger pockets for a few years now and they are a big source of my motivation in real estate.