All Forum Posts by: Josiah Swartz

I'm looking for some professional advice from a lawyer with real estate experience particularly with seller-financing questions (lease options and land contracts primarily).

I live and purchase in Kalamazoo, Michigan so could you recommend someone either in West Michigan or possibly Battle Creek or Grand Rapids?

Thanks!

Hi, Matt! 

Good choice with looking for a 2-unit. That's exactly what my wife and I did here in Kalamazoo and it's working out beautifully. It came with a tenant and everything! The opportunities are out there for you if you stay focused.

Happy hunting!

Hey Ben, good luck with the multi-family homes. I spent a good 4-5 months looking at units in the Kalamazoo area this last year. Finally ended up with a duplex on the west side since many of the homes listed were poorly converted and maintained single-family homes.

What area is the 4-unit in?

What part of MI are you in?

@Scott Hershberger , nice work! The house looks beautiful and the hard work definitely shows. The house looked like a nightmare beforehand...I'm surprised that they're the same place!

Where do the county tax sales take place? I mean, hypothetically speaking of course, if this inspired some other investor to give it a shot, where would they go or who would they talk to to get started?

Links for you:

http://www.karha.com/home

http://www.meetup.com/WestMichiganREIClub/

Hi @Anthony Bell, I plan to attend the KARHA meeting next Tuesday that @Brad Boone is talking about. It's at Theo & Stacy's (5225 Portage Rd, Portage, MI 49002) at 6pm for dinner and networking and 7pm for the actual meeting. It'll be my first visit.

The West Michigan REI Club is hosting a meeting at Buffalo Wild Wings (2720 44th St Sw) in Wyoming, MI on Wednesday, February 12th at 6pm. I won't be able to make it to that one unfortunately, but I've heard good things. @Brandon Krieg can tell you more.

Yes, @Wayne Brooks, it's zoned, registered, and cleared for the rentals. There's a certification process in Kalamazoo and it's good for another 2 years. Of course, that's info from the seller, which I would confirm in the due diligence period.

What do you think of writing in utility cost percentages for the leases? Any experience with that?

I could try to convince him to lower the price to get to that 2% range, @Brandon Hall. There's some potential to also increase the rents and decrease the expenses.

Does anyone know how costly and/or difficult it is to separate utilities? I suspect the process could vary widely based on the local ordinances.

No idea about the trash bill, @Aaron Montague. I could ask to see a bill. How much do you pay?

Thanks for your input, @Patrick L.. I played around with the numbers and it's looking a lot less attractive.