Edible Bozeman Spring Edition – Investment Case Study

by Liz Nitz

If you have seen our ad in the spring edition of Edible Bozeman, you will see reference to an individual who Range recently helped to purchase an investment property.

 

One of the unintended consequences of COVID was giving employers and employees flexibility in the work environment. Employees can now have success in their careers as fully remote or hybrid workers, in addition to the traditional workplace. The current economy also supports entrepreneurial endeavors, and many of those entrepreneurs have fully embraced the remote work life.

 

As a result, we have many clients who love Bozeman, see themselves returning here full time in a few years, but would also like to travel a bit before they have more responsibilities. We recently helped an MSU graduate who wanted to purchase something to live in for part of the year but wanted to rent it for the other months. We recommended that he look for something that would be attractive as a mid term rental. Mid term rentals, in addition to being in demand, are commanding more than unfurnished rentals, and are allowing our clients to save the time and expense of moving furniture in and out. Bozeman currently is experiencing a large demand from remote workers wanting to spend some time here and from workers coming here to work on 10 week plus contracts.

 

For this client, we were successful in finding a nice 2 bedroom, 2 bath condo located in the heart of Bozeman. We advised on furnishings and supplied our outfitting list for rentals so that it would be comfortable for him and his eventual renters. We had professional pictures taken, put the condo on the rental market, and quickly had inquiries. He is currently in the condo for the shoulder season, and we have already booked up the summer months !

 

We endorse this purchasing strategy for those who want to travel for a few reasons:

  1. It uses the real estate asset as a vehicle for cash flow. In the best case scenario, it will cover expenses for more than just the rental months.
  2. Depending upon your financial situation and advice from your accountant, there most likely will be tax advantages to owning such a property.
  3. Owning a property in a place that you’d like to live in eventually is a great way to hedge against higher purchase costs in the future. The property that you buy now does not need to be your forever home, but the appreciated equity that you gain will help with a down payment on the forever home.

 

If you’d like to discuss how this strategy could work for you, please reach out to us!



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The following homes listed below were just listed in the last 7 days. This seller’s market is hot so we keep a close eye on the latest inventory. Subscribe below for instant updates of your ideal criteria.

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2316 Gallatin Green Boulevard 17, Bozeman, Montana 59718

2316 Gallatin Green Boulevard 17, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,530Sqft
Beautiful 3 bed 2.5 bath 1530 square foot condo with an attached 2 car garage. This unit features gray cabinets, white hard surface countertops, stainless steel appliances for a great modern feel. Wonderful location close to walking trails, parks, gym, Costco, Target, etc. 3rd bedroom does not have a closet but seller with work with buyer and show them options. AC is an available upgrade.
$445,000

3271 Warbler Way A, Bozeman, Montana 59718

3271 Warbler Way A, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
2,614Sqft
Introducing Skyline Vista, a luxury condo community located on the park in Cattail Creek. With over 2600 +/- sq. feet of living space these 3 bedroom condos live large with a long list of premium upgrades. First floor family room provides a great multi purpose room or office.
$775,000

289 Heights Circle, Bozeman, Montana 59718

289 Heights Circle, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.61Acre
2,011Sqft
Custom Home with Additional Income Apartment and a Separate Office Space on .61-acres across from a 5-acre park! This home, built by Dan Jones, has a vaulted ceiling with alder stained trim and door package. The extra-large kitchen has quartz countertops, ceramic tile backsplash, and stainless-steel appliances. The living room features large windows and a beautiful rock fireplace.
$990,000

2938 Warbler Way 16, Bozeman, Montana 59718

2938 Warbler Way 16, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,392Sqft
Elkhorn Condos are designed by Locati Architects. This is an end-unit 3 bedroom condo located near shopping and public transportation, trails, ponds, playgrounds. All bedrooms are located upstairs. There is a one-car attached garage. The main level includes a galley kitchen that opens to the dining and living room.
$445,000

102 N Chouteau Avenue, Bozeman, Montana 59718

102 N Chouteau Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.23Acre
1,920Sqft
This home is calling you! It's centrally located with great access to all things 'Bozeman'. This is where neighbors come over for a 'backyard movie night' and sidewalks are filled with chalk drawings and people chatting. The outside has very nice curb appeal. The lot has plenty of mature trees and garden boxes. AND, how about your own water well for lawn and garden irrigation.
$699,000

3124 Augusta Drive, Bozeman, Montana 59715

3124 Augusta Drive, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.25Acre
1,948Sqft
Located between downtown and the Bridger Mountains across the street from the Bridger Creek golf course, this single level home backing up to open space boasts an open floor plan and vaulted ceilings. The spacious living room features a gas fireplace and large slider out to your back deck to enjoy the views.
$850,000

986 Cassandra Ln Unit A, Bozeman, Montana 59718

986 Cassandra Ln Unit A, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,769Sqft
BACKS TO OPEN SPACE! This condo feels more spacious due to its ideal location. Easy access to trails, parks, schools, and shops! Unit has 3 bedrooms and 2.5 baths and a 1 car garage.
$610,000

120 Kimball B, Bozeman, Montana 59718

120 Kimball B, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
2,433Sqft
This charming 4 bedroom, nearly 2500sq/ft, condo is not one to miss. The beautiful kitchen features granite counter tops, and plenty of entertaining space. The bonus room on the east side of the condo is a wonderful addition to the living space of this home. The 2-car garage has plenty of space for all your toys.
$695,000

3155 Cattail A, Bozeman, Montana 59718

3155 Cattail A, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,535Sqft
Great end unit in duplex building, with all new paint and carpet. Located in an established neighborhood with open space, trails, parks, ponds, and views. This place is move-in ready and awaiting your personal touches. Great light with lots of windows in this open main level floorplan with half bath on the main level.
$499,000
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