Remodels to Rentals
For those of you out there thinking about residential investment properties, let me tell you a little bit about Whitefish, MT. The town is a Winter and Summer destination resort.Â JustÂ not in the sense that one may think. When you say winter resort, many people think of Colorado or Utah. When you say Summer resort, manyÂ people will thinkÂ of beaches and the ocean. When someone asks me whatÂ I think of.....well, I think about skiing, lots of snow, fresh water lakes and Glacier National Park. The mild temperatures in theÂ summer and winter monthsÂ alsoÂ allow for folks who can't stand the heat in say AZ during July or the bone chillingÂ cold ofÂ northern New England in January a nice placeÂ to escape.
These are all factors that I kept in mind while searchingÂ for the perfectÂ "reasonable" resort town to start buying property in 10 years ago. Our rental market is currently driven by seasonal workers, young professionals, transplants andÂ long term visitors (nightly/weekly crowd). When folks compare prices to other areas; whether itÂ to purchase investment property or to simply compare nightly room rates and lift tickets - it is impossible not to get the feeling that Whitefish is a diamond in the rough.Â So accept my challenge and see if you can find somewhere similar to here withÂ even close to the same real estate opportunities. I would love to hearÂ about it.....always looking for the next best place.Â