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:
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.
Mike and his wife have been successfully renting out a room in their home on AirBNB since August of 2017. During this meeting, he will present a high level overview of what it looks like to operate a short term rental. He will deliver insight in regards to the platforms available to list your space on, local regulations, tips to succeed, and much more. This will be more of a 101 class, with the intention to dive deeper later in the year.
An absolute beginner's guide to running numbers. Cap rate vs Cash on Cash returns and how to build your own spreadsheet for each. We'll focus on guides for beginner's looking to learn how run their own numbers. Tim Ford will be going over the spreadsheet he uses for looking at potential performance of a rental property.