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Fred Krymis

Real Estate Investor

User Name
:
2late
Gender
:
Male
Location
:
Kalamazoo, MI
Country
:
US

About Me..

Status
:
Part-Time Investor
Investing Focus
:
Buy & Hold (Landlord)
Website
:
Real Estate Deals
:
None Complete / None Active

Statistics..

Began Investing
:
Member Since
:
January 12, 2008
Last Active
:
3 months ago
Profile Views
:
215
Forum Posts
:
 

Real Estate Colleagues

(3 Colleagues) View all colleagues
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Real Estate Investor
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BiggerPockets Founder
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Real Estate Coach

Comments

(2 Comments)
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At 12:52AM on January 17, 2008 - Fred Krymis said..
Hi Dan, Values in the Kalamazoo area are around $30 to $40k per unit. I see a duplex for $75 (which we may buy) and a 4-plex for $110k (which we missed). These are foreclosures. Non-fores are higher. Yes, property taxes are and have been high. Hopefully with the recent loss in property valve we can get the assessments reduced. Of course if everyone tries to reduce, this will kill the govt income (but that's just as well as the non-govt income has been killed. Michigan's economy is bad and unemployment rates are terrible, about 7+%. Yes, this affects rentals. Kalamazoo also has rental laws and rental inspectors. I have one 4-plex now (with my brother). One can find a nice 1 bedroom for $550, with landlord paying heat. Two bedroom for $600. I have not yet joined the Landlord investment group, but plan to join. I think you are much better in Indiana, as you can buy there for $20k a unit and rent for more, plus as you say your econemy is better. Fred
 
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At 04:32AM on January 16, 2008 - Dan Brouillette said..
Hey Fred, I'm close to the border near Notre Dame. What are the values like up there. Have you guys been slaughtered with property taxes recently? All I hear on the news is that Michigan's economy and unemployment rates are terrible. Are they? Do they affect your rentals? What are your places renting for? Do you belong to any investment groups? Sorry so many questions. I'm very interested in investing up that way. Thanks -Dan