All Forum Posts by: Nic Wilson

Monthly meetups are for active investors, lenders, managers brokers, developers, agents, and tradespeople... or anybody else interested in real estate.

Looking foward to the meetup! I just moved here from Montana, where I owned a duplex and was house hacking. I'm looking to do the same thing in Denver so want to meet the right people. Thanks!

• GUEST SPEAKER - Brady Potts is an accomplished real estate multifamily owner, developer, and investor. He is the President of the Boys and Girls Club of Missoula, owns a property management company, and works full time as a Title Examiner at TSI. (Title Services Inc.) Which allows him the unique experience to pencil through hundreds of real world deals a month, throughout the greater Missoula and Bitterroot area. He plans to break down how he bought 5 rental properties, 1 house flip, and 1 developable lot, all within 2 years! You’ll see his before and after rehab pictures, plus he’ll teach us how to use the BiggerPockets.com rental calculator. You won’t want to miss this one!

• The Bitterroot Real Estate Meetup - Is designed to bring like minded people together who are focused on buying or selling properties. Meetups are kicked off with a guest speaker in the real estate industry, along with a live question and answer. (I.e. property manager, law, developer, agent, home insurance, etc.) The rest of the time is to share strategies and to get your questions answered with people who have real world experience. We’ll close it down with networking, which is where all the magic and partnerships happen so don’t be shy!

• NOBODY WELL HARD SELL YOU ANYTHING, EVER. THIS IS NOT A MLM OR A TIMESHARE.

- Are you looking to partner with other investors?
- Are you looking for multifamilies to buy and rehab?
- Are you looking to house hack or use a VA loan?
- Are you looking to sell or refi your current house?
- Are you looking to buy and flip or buy and hold?
- Are you looking to gain insight into the local market?

- WHEN... Sept 1st, 6:00 - 7:30 PM
- WHERE... Windermere board room
- PRICE... Free entry

- QUESTIONS... Nic 406.240.4742

"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world."– Franklin D. Roosevelt

"Everyone wants a piece of land. It’s the only sure investment. It can never depreciate like a car or washing machine. Land will only double its value in ten years."– Sam Shepard See Less

Based on the huge success of Missoula's Real Estate Meetup, we are starting one in Hamilton, MT

The Bitterroot Real Estate Meeting is designed to bring like-minded people together, who are focused on buying and selling properties. The first 15 minutes is for the guest speaker and will end with a live question and answer. I.e. Property Manager, law, developer, agent, construction, insurance, etc. The rest of the time is purely to share strategies and to learn and connect with people who want the same thing you do.

NO ONE WILL HARD SELL YOU ANYTHING, EVER... THIS IS NOT A MLM OR A TIMESHARE TRICK

- Are you looking to partner with other investors?

- Are you looking for multifamilies to buy and rehab?

- Are you looking to house hack or use a VA loan?

- Are you looking to sell or refi your current house?

- Are you looking to buy and flip or buy and hold?

- Are you looking to gain insight into the local market?

- Are you looking for commercial or residential?

- Do you want to grow your professional network?

- WHO... Anybody interested in real estate

- WHEN... August 18th, 6:00 PM

- WHERE... Windermere board room

- PRICE... Free entry

- QUESTIONS... Nic 406.240.4742

"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world."

– Franklin D. Roosevelt

"Everyone wants a piece of land. It’s the only sure investment. It can never depreciate like a car or washing machine. Land will only double its value in ten years."

– Sam Shepard See Less

@Bradley Scruggs you said it! I won another offer with a personal letter too and they accepted under asking price. There was unforeseen mold during inspection so it fell through, but I won the deal none the less. Personal letters are so crucial!

Thanks @Aaron Ziegler!! 

@Sarah Laird thank you! It’s out in Hamilton.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $409,500
Cash invested: $20,000

Duplex house hack.

What made you interested in investing in this type of deal?

Long term retirement, buy and hold.

How did you find this deal and how did you negotiate it?

MLS, it was originally listed for $485,000 for 6 months during the VOVID lockdown, which didn't have one walkthrough because everybody was so scared during the beginning of the pandemic. It was re/listed at $420,000. I offered $405,000, and we settled at $409,000. My sales background helped during negotiating. My uncle has 30 years of professional real estate experience and was my agent so that helped a lot to, but I think my personal letter to the owner is why I got the deal though.

How did you finance this deal?

Military VA loan

How did you add value to the deal?

Invested 20k of personal money, floor to ceiling paint, new floors, fans, light fixtures, door hardware, new tile around master tub, outside landscape work for main entrance walkway, new gutters.

What was the outcome?

I raised the rent and now cash flow $415 a month, while still living in the 2 bed 2 bath unit. I plan to make $1,915 in monthly cash flow when I move out and into the next property, by renting my unit out for $1,500.

Lessons learned? Challenges?

Everything takes 2 times as long as you think it does and about 10-20% more money than expected.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Bob Pauley - he covers Western Montana, but mostly Ravalli County, Montana.

https://bobp.withwre.com/