Updated about 10 years ago on . Most recent reply
Hi from Grand Haven!
Greetings from Grand Haven, MI. After about 20 years of stock market investing, I'm looking to diversify our family's portfolio with some rental property. We are currently looking in the Holland/Grand Haven/Muskegon area for leads and ideas. Being new to this style of investing though we are taking it slow and working on learning the ropes. I appreciate the wealth of information on the forums. Happy investing all!
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We bought our first duplex in 2012, and now we have 7 duplexes with our 8th one under contract. So it will be 16 units. Self managing teaches you a ton about the business and will also help vet property managers later. Because we are still purchasing more, don't really want to hand over 10% or in our case $1100 per month. I work from home so can handle any phone calls from tenants. Repairs can be farmed out if you don't want to do them. We are getting between 1.2% - 1.6% of rent vs. purchase price. It works for us! The only repairs we have farmed out are roof, furnace, sewage leak, and tub replacement. I hope this helps!