Home Buying in Missoula>Question Details

Msw, Home Buyer in Missoula, MT

What type (e.g number of bedrooms and baths, etc) and where to buy a rental house in Missoula to meet the greatest demand?

Asked by Msw, Missoula, MT Sat May 15, 2010

We are relocating to MSLA and thought we would buy a smaller, less expensive property to live in while we acclimate and find the property we want to live in long term. WE would continue to rent the first house after we move into the 2nd one until 2 two year capital gain period was up, then sell. Suggestions about location, type of property?

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Tiffany.wellman3’s answer
Again, I don't know if you are still looking but, I am selling my Pleasantview home FSBO. This means I am willing to give you a screaming deal! The house is wonderful and my children do not want to leave but, now with 3 kids, we need some more space! Please call me and I can send you a direct link to my shutterfly album. Asking $199,900 but EXTREMELY motivated:) Tiffany 406-240-7845
0 votes Thank Flag Link Tue Jun 12, 2012
Not sure if you're still looking as this was posted some time ago but you really ought to consider the Pleasant View neighborhood. Is a great neighborhood, very close to Hellgate Elementary, it's quiet, is mostly owner-occupied, and is located near good shopping, restaurants and more. The neighborhood is new so the houses are in good condition and would require consistent fixes, upgrades, or more. There are a range of styles and prices that appeal to many people. It's a very popular neighborhood in Missoula.
Web Reference: http://buyhomemissoula.com/
0 votes Thank Flag Link Thu Oct 27, 2011
Missoula is such a small town on the scheme of things. Really it would depend on what you can afford and qualify for. That alone can dictate where you may want to live. If you can go up in the 200's+, then as close to the university or close to bike and bus routes are good as well. It would be good to sit down and look at what a mortgage payment will be and compare rental income to location and condition. You want to make sure that you are not putting a ton of your own money into the rental to pay that mortgage payment if the rent cannot sustain your payment. I own 2 duplexes in town and know how important location and condition are to getting good renters. I personally like smaller properties, they are easier to rent, and you won't have a ton of impact on the property...iE; not having a 3 or 4 bedroom house, where you may have 3 or 4 students, or a large family to fill it. There are so many different ways to go about this, it is always best to sit face to face. If you are interested, I am more than happy to sit down with you and brainstorm!
0 votes Thank Flag Link Tue May 18, 2010
Ty is right, the best location to rent a home is in the University area. The problem is finding a home that you can financially achieve your objectives, I don't believe the University area is that area. The reason why is property is already very expensive in that area so finding an affordable property is difficult. Many students have even started looking to the Orchard Homes area. It is almost as far as you can get away from the University as you can get with staying in town but the area has many perks. The city bus will take you to nearly anywhere you want to go in town, there are bike paths that will take you to town and the most important reason; there is still reasonably priced existing homes and land ready to develop. If someone could buy an existing home and convert it to a 2 or more resident unit they could still collect nearly the same rent as a home near the University without the cost. If someone was really ambitious they could buy something that would allow a horse and collect even higher rent payments.
I know about quite a bit about student housing because I am not just a Realtor, I am a student as well. I am working on a business degree in my spare time. I have also taken the necessary steps to work in property management and over 50% of my sales involve foreclosed properties so I know that market as well. I know how to get you the best property at the best price. I will do all this without high pressure sales, we will work at your speed. Please contact me to be of assistance, Thank you. Patrick Bowler 529-5573
0 votes Thank Flag Link Mon May 17, 2010
If I had a million bucks, I would buy every property I could get my hands on in the University area and Rattlesnake area. There will never be a shortage of University Students or staff looking to rent. Having said that, you will pay a bit more of a premium but should have no problem renting it out when you are done. Moreover, when the time comes to sell, you will be less affected by negative market trends. The next area to look into is the Pleasant View area. It is highly sough after because of Hellgate School. Prices are more affordable, the homes are smaller (1200 to 1600 sp ft,) and the lot's are smaller also. The only problem with this sub division is it that when it comes time to sell you will not only be competing with all the other homes for sale out there (it is a mecca for first time home buyers) but you will also be competing with the builders who are still expanding the subdivision. Please let me know if I can help further and good luck!
Web Reference: http://www.Ty-Robinson.com
0 votes Thank Flag Link Sat May 15, 2010
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