Details to come
Adding cashflow to a property by adding a cell tower.
We will meet at Story Mill Park. We will be checking temperatures and providing hand sanitizer. We will be outside social distance as best you can. General discussion. My hope is that some investors will share a deal they have done and we can talk about it.
Every meeting as of late has started with a local market recap that has yielded great insights. After this the group will share ideas about opportunities and challenges for taking advantage of the current turmoil. The meeting will be outside and we will socially distance, so face-masks are not required, but are encouraged. I will be taking temperatures of attendees. There will be no online option for this meeting.
We are meeting face to face at Springhill Suites. Open discussion, sharing deals closed in last several months, overview of market outlook and networking.
This month we will be doing a Back To Basics meeting that will cover Due Diligence. What do you need to be thinking about before you make an offer, and after getting a property under contract? We'll look at basic provisions, and run through some scenarios. Bring your questions, knowledge, and experience! We'll also be doing a 15 minute check in at the beginning of the meeting to gain a better understanding of what the local market is doing, and what we're all seeing out there in these changing times.
We will have an open discussion of the current status of the market and coming what we believe are the coming opportunities.
Flipping houses often requires all cash since banks do not like to lend on distressed homes. At the last meeting, the three house flippers all mentioned help with costs from equity partners or lenders. Next meeting, we will have another expert panel: hard money lenders. You might be interested in borrowing to help with your next project or interested in lending to get a good interest rate and have your loan backed by a hard asset. Either way, this should be an informative meeting. We will hear from three great speakers:
- Pat McGowen is the lender on one of the projects you heard about last month. You will get to see that project from the lenders perspective and hear about Pat’s experience lending
- Craig Jennings, like Pat, is an individual investor/lender but in Memphis. Craig will share his experiences with hard money lending. Craig may be moving to Bozeman, so we hope to see more of him in the future.
- Kimberly Knapp, in addition to investing in Montana and California, is a hard money broker, matching lenders and borrowers.
We will hear from several Montana house flippers. They will each present a recent project and talk through some of the challenges of flipping houses. There will be plenty of time for panel discussion so please bring questions.
Paul Bottomley will talk about his recent project in Billings.
Ryan Mix will also cover a recent rehab in Billings.
Jay Miller's topic is new construction, from planning to sale. Focus property will be in Stevensville. He will go over briefly, location, county/city planning, HOA, plans, funding, construction and marketing/sales. That sounds like a lot, but it will be fairly high level, providing more details during question/answer time.
Get hold of this great book, and try to read before meeting. Will discuss the book over coffee.