All Forum Posts by: Tom Gierhan

Hey @josh @Josh Santos - I sure wish I had more information for you. This is our first rental and we're just getting started with it. So far, it's been rough with more problems and costs than anticipated. That said, it's been a great education. Most of the property condition surprises/issues could have been avoided or addressed prior to closing had I done a better job with my due diligence. 

Also in hindsight, I wish I would have listened to more advice from these forums as well as the Bigger Pockets and Real Estate Rookie podcasts. It seemed like folks really stressed making sure not to inherit existing tenants and having the property vacant at closing. Our tenants wanted to stay and I got soft with that advice. There are two. One has been great and I'm glad we have him. The other has been a real challenge with property damage (targeted burglary?) and now with him coming up with the rent. It's a long story, but bottom line is I wish we'd gone about all of that differently. Next time...!

As far as the market and appreciation goes, I really don't feel I have a good handle on that and/or it's too early for us to tell. We just bought the property around the first of August this year. The real estate market seems very active. I've been looking for more places to pick up, but haven't come up with another great deal as of yet.

Nice to meet you on here and I hope all goes well with your investments! Tom

@Drew Sygit thank you. Great advice!

@Wyatt Johnson thanks much!

Hi BP community!

I'm looking for recommendations and advice on long-term rental property management companies that operate in the Billings, Montana area. I’ve currently got three units in Billings and would like to continue growing an investment portfolio in that area.

I’d love to connect and share ideas about the Montana investment Market.