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.
Come enjoy some pre-season holiday cheer. We will be celebrating the growth of our club and, more importantly, the growth in our member's passive income!!! There will be awards, please check your email for how to vote for award winners.
One reason some people will not invest in real estate is they think it is risk. But real estate can be much less risky than the stock market with a little due diligence. How do you look into a deal to make sure you fully understand the risks? Due diligence. We will be hearing from Len and Cory Janson. Members of our club that have closed a number of deals in several states. single family, plexes, apartments, and commercial space; the Jansons have analyzed a lot of properties. They will be sharing their playbook for how they dig into details of a property to understand all the challenges.
Ben Franklin say "nothing is certain except death and taxes." We will hear from Kenneth Blaine with Credits and Incentives Crop. There are some activities (creating a film for example) that some states will provide tax credits. If the creators cannot use all of the tax credits, Kenny's company will help sell them to high income individuals. They are sold at a discounted rate so the return seems nearly as certain as paying taxes.
Chad Laird works with Granite Peak Equity. They put together syndications and other investment opportunities in the apartment space. A syndication is a group investment, and a great way for investors to participate in real estate, while leveraging someone else's time and expertise to put the deal together and manage the investment. Chad will provide an example of a past investment and talk about what syndication looks like.