Mt Pleasant Mi, Multifamily

[Andy Done]

I recently got approved for a remote job, & would like to get a multi-family property in Mt Pleasant MI.

My question is; what would be the average vacancy / default, and repair percentages, that I could use as a base or in the investment calculator? Also who would be the best first contact a agent or property management company?

[Zachary Cummings]

Hey @Andy Done!

Congrats on the remote position, first step to Freedom!

I am in SE Michigan so not very familiar with Mt Pleasant however, property managers in the area will be able to tell you the average vacancy %, so if you call a few PMs you can base it off the average of those then add in a cushion to be conservative. You can also do this for late payments/default. For repairs and capex I would go to  biggerpockets.com/multifamilybonus which was is provided in the back of multi family millionaire vol 1 by Brandon Turner, where you can find how to calculate your percentages for multi units.

Regardless of who you contact first, whether agent or PM, I would interview a few to gage the knowledge of said person that will help you succeed.

Hope this helps!