Missoula, MT – The University of Montana
It is often said that some of lifes most important lessons are learned outside the class room. My time at The University of Montana was some of the most eye-opening years of my life. It was a time that inspired me to embrace my surroundings, live life to its fullest and learn as much as I can.
Of all the business classes and life lessons learned, there is one that I didn’t understand untill after graduation. One that I am thankful that I did learn, only I often fantasize about what life would be like if I understood it sooner. This is the story of my experience living in Missoula.
When I was a student at The University of Montana, I, like many students rented homes with friends so we would have a place to stay. Many times this turned into a last-minute rush to find suitable living situation every year and sometimes every half depending on the rental agreement. I moved over five times in four years at the university.
My senior year I lived in a home that one of my underclass friends purchased with his parents. Over the course of 5 years my friend would rent rooms to his friends to help pay the mortgage. When he graduated, they sold the home and was able to pay for his education and give him money to get started with his life.
This concept is one of the most important lessens that I learned in college. I have since owned rentals that have returned residual monthly income as well as appreciation when they sold. The current real estate market is perfect for open-minded investors looking to buy single family homes.
1. Prices are down and rents are up. Investment properties can actually cash flow.
2. Vacancy rates getting lower. Few new appartements are being built to handle the increased demand for rentals. The University of Montana is growing and less people can afford homes.
3. After the first two years, the risk of your investment is substantially reduced.
4. Your mortgage payment may be less than rent on a comparable home.
Email me for a comparison on the true cost of renting a home compared to buying. Even if you sell the home at the same price a few years from now you may be surprised how the numbers work in your favor.