Thinking about taking the leap, and purchasing your first investment property? Becoming a landlord is one of the best ways for adults to build personal wealth. Rental properties have the potential to become passive income.
The Gallatin Valley has some amazing opportunities for investors. With our thriving economy (fastest growing Micropolitan in the nation for the past 2 years), large college population, and home to large tech companies; the Bozeman area should definitely be on your radar.
Belgrade, Montana has fast become a market to watch. With the revitalization of its Downtown Main Street, the anticipated Yellowstone Airport Plaza, and an influx of new construction… it’s a market not to be missed! If you are considering a rental property, there are some great opportunities in Belgrade.
First Steps to Becoming a Landlord:
- Meet with your lender. A good lender will help you either use equity from your current home, or help you find other lending options to make your purchase.
- Call your real estate agent. Once you know what your purchase power is, you can start touring possible rentals. We LOVE helping folks make informed decisions about investment properties. Having current real estate and rental market knowledge is KEY.
- Submit your offer and go through the home purchasing process.
- Lastly, do you want to manage your rental on your own OR would you prefer someone manages it for you? We have a few local property management companies that we highly recommend.
“Don’t wait to buy real estate, buy real estate and wait.” -Unknown