Billings, Helena, Bozeman (still working on Missoula and Kalispell) clubs will join like Voltron to form the ultimate group. We will have a round robin of presentations to provide a summary of each market and recent deals. Then there will be small breakout discussion groups to get to know people in other markets. NOTE MEETING DATE MAY CHANGE.
We are back at the hotel meeting room, so joining virtually is back on (in fact one of our speakers may be joining from South America). We will be discussing the ins and outs of executive rentals. This is fully furnished monthly rentals. Being a month to month avoids limitations of VRBO but can get a higher rental rate than long term lease. Tory and Mike will be presenting on their efforts.
Come with questions, ideas, successes and learning moments. While the weather is nice, we will enjoy outside. We will have open discussion at a pavilion at Story Mill Park. There will be some picnic table seating, but feel free to bring a blanket or camp chairs.
Tory is going to give us a tour of his tiny home. Bring some camping chairs, we will sit outside and visit while Tory takes us in a few at a time for a tour. We may have a cookout or bonfire after, more details to come.
We are going to tour spend a day touring several Bozeman properties. Then mastermind the our impressions over a beer. Exact time and meeting location may change so check email a couple days prior to June 11. For now plan on meeting at the parking lot across from the Local in Belgrade at 9am.
With the recent appreciation in real estate, it may be time to sell that rental property and roll it into something bigger. But what about taxes on the capital gains, and what about all that depreciation tax write off I have enjoyed over the years? Learn how to minimize your tax burden with a 1031 exchange. Karen Martin and Tarie Asay with Bozeman's own 1031 Property Exchange company specialize in these transactions. They will be presenting and discussing how these transactions work and the rules around them.
No speaker, although some random ramblings to get discussion started. A chance for us to catch up, share thoughts and insights and socialize as a group. Encouraged to bring refreshments for yourself or to share.
Some of you have invested in real estate with your retirement accounts, either syndications or all-cash. But what if you want to buy a duplex and use money in your IRA for a down payment? The challenge is the lending. Banks often want a personal guarantee, but the IRS does not allow you to give that if the asset is held in your retirement account. Another challenge is owning real estate within an LLC vs holding in your personal name. Banks often will not lend to LLCs. First Western Federal Savings Bank, based out of Rapid City, SD, is one of the few lenders in the nation that provides this kind of lending. They provide non-recourse loans and specializing in lending to individual retirement accounts for real estate. The LTV and interest are not the same as conventional loans. We will hear for the bank's founder, Roger St. Pierre, who has over thirty years of lending experience. Find out how this unique financing works.
How do you fund your first deal, fifth deal, tenth deal and what are the differences if you plan to use the property as your primary residence, a short term rental, or a long term rental? How about if it is a condo versus a single family home versus a multifamily property or even an apartment complex? There are many nuances to lending, and this presentation will help you understand how to prepare yourself to successfully get your investment financed. We will have two experienced lenders from First Security Bank presenting this month. Tanner Aasheim is a Residential Mortgage Lender and Cory Hollern is a Commercial Lender here in Bozeman. They will have a wealth of information to share, and they will be ready to answer your questions too. So whether you're looking for Lending 101 information or are seeking information for more advanced lending strategies, these guys will have you covered!
Want to help with affordable housing and create some passive income? You may be able to build an additional dwelling unit (ADU) on the home you live in. An apartment over the garage, an attached mother-in-law suite, or a detached unit on the same lot. Keith Miller is the President of the Missoula Real Estate Meetup, and is focused on infill development. He has built his own ADU, and is currently building two backyard townhouses. He will be providing an overview of how to build your own ADU, including codes, permitting, financials, process, and tips.