All Forum Posts by: Aaron Treloar

Bill S. Is absolutely right. Figure this expense even if you plan to do it yourself. Nothing lasts forever!

Congrats on your first! Finding tenants in winter in Michigan is more challenging but not impossible. It is important to stick to your screening because you may be tempted to let it slide if you are going on a month or more of vacancy. Just be patient and the good ones will come. You may need to offer a lower rent in the winter also. I would also offer a lease only through May or June to start and then renew yearly from that point to keep your future vacancies in prime leasing season. I typically see a flurry of renter activity between Thanksgiving and Christmas but the weeks of the Holidays are relatively dead in terms of leads. After Christmas it gets very slow.

Ultimately, NOI determines value in a true multi-family situation (read: commercial property). If you can add value in terms of NOI you have a good deal! Sound management coupled with a plan for increased NOI will give you your value.

I did not grow up in Kzoo but have lived there since about 2002.

Welcome, Dan!  I am in the GR market.  Please reach out if if you have questions!

@Matt Brechting welcome to BP!  I am a property manager in Grand Rapids and I would be happy to help you as you delve deeper into investing!  Feel free to PM with any questions!

Hi, John.  I manage properties in Kent, Ottawa and Kalamazoo counties.  If you have questions about market rents in these areas I'd be happy to help!

Welcome, Zachary.  I am a property manager in Grand Rapids and Kalamazoo.  Let me know if I can help you or your clients in any way!

Hi, Kevin.  I am a property manager in Grand Rapids and Kalamazoo, Michigan.  If you have questions about this market feel free to message me!  

Does your lease address alterations/repairs?  If they didn't approve the cost/alterations prior to doing the installation you are not obligated to repay them.

You cannot legally tell them the neighborhood is "unsafe" as that could be considered steering.  That research is a tenant responsibility prior to moving.