Un-Real Estate [Yellowstone WY]
“Is the Jackson Hole real estate market hot?” Ron Miller ponders the question. “I can’t answer that. There are niches. With my condos at the Village, I’m swatting buyers off. But my place at Indian Trails, I can’t find a buyer.”
Miller, the responsible broker for the Jackson Hole Real Estate Company, has hit his stride in real estate investing – basically, buying and selling properties he never intends to occupy. “I’ve had to teach my wife not to get attached to our properties,” Miller admits. “A lot of people hold on to their property and never realize the gain. They leave it to their kid. They don’t know how to sell. Some people buy a property and say, ‘I’m just going stay here ’til the day I die.’ How boring is that? I don’t think I’d want to do that. Life is too short. I’m always looking for an exit strategy.”
And it’s always a grand exit when Miller gets out. “My return on investment is phenomenal,” Miller says. “When I buy a property at no money down and sell it in a year for a $200,000 gain, that is a huge return on investment. Like, not 10 percent, not 20, not 50, not a hundred… Let’s just say, in an appreciating market like Jackson, it is not impossible to make a 1,000 percent return on investment. I’m here to tell you I’ve done it.”