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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4633 Shadowglen, Bozeman, Montana 59718

4633 Shadowglen, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
0.17Acre
2,617Sqft
Four bedroom single family home on Bozeman's growing west side. Two stories with a main floor master bedroom. Generous amount of counterspace and storage in the kitchen, gas fireplace in the living room and formal dining room. Upstairs features two bedrooms, bathroom and loft/flex space currently used as an office.
$769,900

203 Wickwire Way, Bozeman, Montana 59718

203 Wickwire Way, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.20Acre
2,067Sqft
Beautiful new construction available for immediate occupancy in Black Bull, just in time for golf season. Located steps from the club's amenities, 203 Wickwire Way provides easy single level living in one of Bozeman's most sought after communities. With 3 bedrooms, 2.
$1,499,000

2489 Andalusian Avenue, Bozeman, Montana 59718

2489 Andalusian Avenue, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.28Acre
2,770Sqft
Welcome to 2489 Andalusian Ave in the highly sought after Baxter Meadows West Subdivision! This custom home is one of last crafted by renown Bozeman Developer Ed Adamson & Bozeman Building Traditions. This unique green and energy efficient home features two types of solar panels, complete with high efficiency Smart Triangle Tube Boiler System and radiant floor heating.
$1,399,900

29 Hoffman Drive, Bozeman, Montana 59715

29 Hoffman Drive, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.07Acre
2,568Sqft
Spacious 4 bedroom, 3 bathroom Woodbrook townhome by renowned builder Ken Leclair in an unbeatable location near MSU, Downtown, and Bozeman Health. Enjoy the park-like setting backing to beautiful mature trees and babbling brook from the expansive newly built Trex deck. Main floor open living with vaulted ceilings and massive windows providing tons of natural light.
$749,900

340 Stonegate Drive, Bozeman, Montana 59715

340 Stonegate Drive, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.96Acre
3,093Sqft
Brand new to market! Welcome to serene Stonegate subdivision tucked into Bozeman's Riverside Golf Course with spacious 1+/- acre lots & stunning mountain views. Abundant windows & natural light envelop elegant 3093 sq ft home with 4 beds & 3 1/2 baths. Main level master en suite boasts a ginormous walk-in closet/dressing room.
$1,500,000

3109 Augusta Drive, Bozeman, Montana 59715

3109 Augusta Drive, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.29Acre
3,005Sqft
Beautiful home on the 14th fairway of the Bridger Creek Golf Course. "Big" unobstructed views of the Bridger Mountain Range. This home features 2 master suites, one with a walk-in closet big enough to make into another bedroom! Great room concept with corner river rock gas fireplace, large kitchen featuring cherry cabinetry, granite counters, butcher block island and a nice gas range.
$1,050,000

1418 Cherry Drive, Bozeman, Montana 59715

1418 Cherry Drive, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.21Acre
2,523Sqft
This well maintained ranch style home backing to the Hyalite View Park is ideally located within close proximity to downtown Bozeman, Bozeman Deaconess Hospital, and Montana State University. The trail system runs right past the back door for hiking and biking opportunities as well. The two levels of this home afford separate bedroom/living areas for guests or roommates .
$825,000

280 Eagle Creek, Bozeman, Montana 59718

280 Eagle Creek, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
2,182Sqft
This spacious 2-level Cottonwood Condo is ideally situated in the ever-growing West-End of Bozeman. Within walking distance to restaurants, coffee shops, trails, and workout facilities. Natural light floods the main level with an open concept floorplan with warm, oak flooring throughout the ENTIRE condo (helpful for those with allergies).
$720,000

315 N Tracy Avenue 508, Bozeman, Montana 59715

315 N Tracy Avenue 508, Bozeman, Montana 59715

2Bedroom(s)
1,418Sqft
The Henry is a proposed 6-story, luxury residential for sale development in the heart of downtown Bozeman, Montana. Totaling 44 condominiums, the project is 3 blocks from Main Street at the southwest corner of Tracy Avenue and Villard Street. The Henry is positioned to be the most sought-after residential property in Bozeman, given its location, amenities, design and views.
$1,554,000
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