The Bobcat Nation

anyone in belgrade? is this a nice subdivison? sis looking to buy investment home.

Yes it is a good investment. I have two there myself.

Have several friends who live out there. It is a nice little subdivision for the most part. They have a fair amount of covenants, but seem to be pretty selective on the ones that are enforced. For investment home it would probably be a pretty good be though.

Hello Kitty wrote:Yes it is a good investment. I have two there myself.

Do you manage those yourself, or do you have one of the local agencies take care of those particulars? I've been playing with the idea of buying something up there (not necessarily that subdivision, but in the Bozeman area in general) for quite awhile, but I've never gotten to the point of getting into all of the details about property management, etc.

so is it a nice area for kids? have a "friend" that can build me a home - Brad bite your tongue - and I don't know if it's worth it to do that (which comes with benefits) he'd be giving a great deal on a custom home, and large lot in a subdivision he's building, or to get one in river rock.

i'd rent it from my sis while doing the grad school thing, so she doesn't need prop management.

I am sorry I was lying about the sub division. I just feel like you are always brining up personal finances on BN. I was being sarcastic. I should have said, I heard a great way to research property is through a collegiate sports forum.

I won’t reply on it again.

This is an all topics board (as opposed to the Bobcat Athletics Board and the the Other College Sports Board), so questions about anything of interest to MSU alums, fans and friends is okay, including people doing research about places to live when they move back to Bozeman.

I agree and apologize.

well, may be KMAX knows? sorry kitty, but don't currently live in area, like to know local feed back before i lay 260K down. nice to get a non realtor response.

Hello Kitty wrote:I agree and apologize.

No worries ... a little sarcasm here and there is good for all of us.

River Rock is a nice subdivision. There's a K-4 Belgrade elementary school there, the parks are developed, and they have big pond in the middle of the development. Just keep an eye on the kids-no life guard on duty. There's curb, gutter and sidewalks throughout the subdivision, which is a rareity in Montana outside of the bigger towns. There is an MYO sandwich/ice cream shop there, and a coffee/espresso shop in a slowly developing business center.

On the downside-there's not much business close by yet so you'll be driving to Belgrade for milk and bread and that sort of thing-but I'm sure that will be coming to the River Rock area soon. You also might ask how much the water bills run-I've heard they're a little high.

Traffic is a bit of a mess at rush hour-it can back up a ways at the Belgrade overpass (nothing like a big City though).

GREAT views of the bridger mountains.

I think Belgradebobcat did a nice summary of the subdivision. I have heard plans for a convenience store/gas station but don't know a timeline. I would add one more point to all of this. This subdivision, because it is in Belgrade, allows you to build a bigger/nicer house for less money then in Bozeman.
Right now you can buy a houe in Belgrade for probably 115-125/sf. In Bozeman, they've went over 150/sf. A genereal rule of thumb I tell my clients is you can get about 1000 sf more for the same price in Belgrade.

What does this mean for an investor? You can come into the situation and be cash flow positive a lot easier a lot sooner.

If you purchase investment property and don't live in the area, I would definitely suggest a property management company. There are several in the area.

thank you. i will be residing in the home with two kids, and multiple pets. i can go bigger and cheaper in RR SD than if I chose to have the home built by my "friend", however, his home would be nicer, the lot larger and, well it comes with "perks". he charges 165 a SF so he's high, but it's quality work. plus in no other situation can I drag the builder around holding his hand at the local Home depot and say "i want this and i want that." and make him rub the carpet samples so I don't know which way to go , i'd be buying the place with my sister because although "perks" come along, i can get a liitle carried away in the customizing of the house. BUT if my "friend" survived the experience, or should I say I ducked his volcano explosion it would be a beautiful home. He can have free advertisement too. I know he's supposed to put in a little strip mall, that might be Chad's you are speaking of there in belgrade.

thank you for the imput. by the way what is commute like into MSU most mornings?

I live in Bozeman and work with investment property deals everyday. If I had some extra money laying around, I’d just buy land on a short term interest only loan. Pay your interest for 12 to 18 months and then flip it. Much less hassle than building a spec house or future rental. In my opinion, the increased price of land is what is making the money.

thanks rye cat I may by land, but we need to live somewhere. RR would be a generic cookie cutter home, but that might keep things "friendlier" with him in the long run, than if my "friend" has to make sure my baby girls room is "princess" ready with the special paint job, oh and most builders don' t fence or landscape and I haven't found another one yet who'll get stuck installing the playset as well as constructing the home. let's not forget all those times he's going to get dragged into home depot and told which faucets and shower heads are needed. the fact that i want a real split log mantle for the fireplace and he's on speed dial in anything goes wrong. that is if he's not already over at the home when something breaks.

my sister in laws family (Vogel) just sold a bunch of land headed towards the M, and we're shocked what it's all re-selling for. so you are very right about just investing in property.

barechestcat wrote:If you purchase investment property and don't live in the area, I would definitely suggest a property management company. There are several in the area.

If you know someone you trust I would ask them to manage it for you. My mother had an absolutely terrible experience with the property management company she used, and I've know a couple other people who have echoed her thoughts.

Rebecca, is that the same land that instead of listing a price per lot, they're asking people to put in bids?

i think it was something like that. they originally sold it to a developer in Last (2004) July, and i know VERY pricey homes were planned for it. I know the property sold that bordered Bridger Ski Hill (sold as a buffer to Bridger) went for several mil. in late 80's. I know this went for several mil. as well, but we haven't discussed other than proceeds went into trust for my nephews, and they are good for life. what are the bids starting at? curious.

i know i'll put in b/w 240-260K and the house in reality will be worth at market more like 300K. my dad calls it the "whole sale" house. so i'll get a very good deal from my friend. he'll get blood pressure pills from me

The property I'm talking about is north of the highway just past Story Mill Road. There's a line of older homes that sits right next the highway. The land being sold is behind those houses and is being developed as "The Legends at Bridger Creek." The lots are less than 1/4 of an acre.