All Forum Posts by: Michael Glunk

@Anthony Lucent I'm curious to hear how this turned out? 

Also, I would be interested in what you've learned about unattached multifamily properties. I haven't been able to find much on them. I ask as I might build one as a lot I purchased isn't wide enough from a zoning perspective to be subdivided for two single family homes (it is 75 feet wide and zoning requires 50 feet width per lot). Although I am pushing to see if I can get a variance. If that doesn't work out, I was thinking of asking about building an unattached multifamily property. I could just build a standard duplex/townhome, but my preference is for the homes to be separate if possible.

Thanks,

Michael

@Monique Davis My experience is in long term rentals in Whitefish. Only certain areas in Whitefish are zoned for short term rentals (i.e. The Railway District). So they opportunities are limited in downtown then you have other areas like the mountain which is another option. I've been looking into the short term rental opportunity. (Currently the shortest term I can do based on rental location in downtown is 30 days.) Based on conversations I've had with other investors and property managers the higher end approach is the way to go since you are competing with a lot higher end hotel/resort accommodations and people want that with the added bonus of having the entire place and/or place and yard to themselves. More than happy to chat more.

@Dan Chapman I am fairly knowledgeable on Whitefish, Montana. The cost of ownership in relation to the rental rates/income makes it difficult unless you are looking to park more than 20% into a property.  More than happy to answer more questions if you want to PM me directly.

Also, how are you planning on self managing a vacation rental from a distance? Just hiring a cleaning company?

Cheers,

Mike

Hey Kevin,

I'm more than willing to connect. I live in Evergreen, CO. Is that where you are looking to move to? Feel free to send me a message directly.

Best,

Mike

Thanks @Aaron Treloar @Josh Bloomquist and @Mike Pritchett 

I will definitely give Foremost a call. Happy Holidays.

-Mike

I currently own a duplex in Kalamazoo and have it covered with State Farm. I've started to look at tri-plexes and 4-plexes but State Farm won't cover anything over a duplex. I know there is Ron Jacksons. They tend to over charge in my opinion. Especially if there are students in the rental. Any other options anyone would recommend?

Cheers,

Mike

Welcome to BP. I have some family in the Roaring Fork valley so am there often. Expensive market, but definitely deals there if you can pounce quickly.

@Daniel Hyman Thank you for the input. Have you seen this happen irrespective of the sales price? i.e. One partner covering the down payment...let's say 20-25% down on a property in exchange for the other handling everything seems like it could be viewed differently on a property that costs $90,000 vs. $900,000.