I have an amazing collection of fishing shirts
From one end of the property to the other is one mile. Yes, you can fish up to the high water mark, but with the way the bank is, you'd be hard pressed to wade fish there without getting on private property.I have to question this one due to MT stream access laws.
There is cell service there and power. So yes, I'd plan on having wifi as well as satellite TV, and eventually a lodge with a bar, big screen TV, tables, etc.You’re going to run into a lot of issues explaining it to the insurance company. Might want to get those numbers and see if they’ll even insure it. Vacation rental insurance is a completely different animal. When Karen rolls her ankle getting out of the Jon boat you’re going to want it.
Also, what regulations or licenses would allow you to portage “customers” in a boat? Guide license good enough? How many people will you be allowed to take at a time? What sort of hoops do you need to jump through?
What happens when a pair of lovely hipsters, enamored with your glamping idea. get some food poisoning from the warm fava bean sandwiches and goats milk they’ve stored incorrectly? Or, lodge a hatchet in their shin, or see a grizzly bear and piss their organic selves?
Not your fault, but are you going to have a host to portage their butts out of there at any hour? Or, will they call in a panicked satellite distress on their garmin and create a shit storm for you to deal with?
Last - you gonna have WiFi? Sounds ridiculous right? But if you don’t you’re going to miss out on a lot of the work from home vrbo crowd.
I would buy this property and be more than happy living there 4 months out of the year. The idea of running a bed and breakfast type of "resort" is just in the early planning stages. The domes are around $10k, figure $5-7k for the platform, and $20k or so to finish the interior. At $35-50k per dome, it doesn't take too long for them to turn a profit. I stayed at a little cabin in Craig and paid $300 per night, and it wasn't on the water.
At $250 a night, if I can get it booked for 100 nights a year, its paid for itself in 2 years or less
I'd guess that this would be one of the largest pieces of private property based on riverfront between Craig and Cascade. I'd only buy it if the price was right.10 years on the market should give you a clue IMHO...
In real estate it is, as you know, ---> location, location, location. Water only access in a state where there is lots of waterfront that is accessible is not a good choice...
How will you ever sell it to recoup your investment? Such a small market - good luck with that!
As someone that has bought and sold a number of waterfront properties in MT. Runaway as fast as you can. There are many other options that are a better investment!
Edited to add: Timing can be a good thing in real estate. With the COVID-19 impact, a number of properties may come up for sale as people can not longer afford them due to joblessness. They may be more negotiable/reasonable in price since they are hurting for money. That is something to keep a look out for so you can take advantage of future 'good deals'....