All Forum Posts by: Chad Haskin

HI James!  I have worked with a local builder in Hudsonville to sell 6 spec houses recently.  I always love talking about real estate, so feel free to contact me any time to chat.  

Great move, Angelo!  I am also a GR investor, and love to talk real estate.  Contact me anytime.

Nice!  I have been investing in Grand Rapids since 2003 and love to talk all things real estate.  Contact me any time with any questions.

Investment Info:

Other buy & hold investment.

Purchase price: $1,350,000
Cash invested: $100,000

Commercial Business Park building with 10 Suites, and two self storage buildings. Have since added two additional self storage buildings, and RV/Boat parking.

What made you interested in investing in this type of deal?

Value add, automation, room to expand, better control of costs and income

How did you find this deal and how did you negotiate it?

Real Estate agent colleague. Negotiated buy asking seller to finance some of the down payment amount.

How did you finance this deal?

Conventional commercial, with additional seller financing.

How did you add value to the deal?

Automated move ins, added buildings, added web presence and marketing, added yield management.

What was the outcome?

Highly increase NOI, and therefore, market value.

Lessons learned? Challenges?

Was hard to initially get everything switched over from paper leases to automated electronic leases. Somewhat long distance, so we had to work in a boots on the ground commercial customer there to handle occasional on-site requirements. Also added camera systems to keep an eye on things.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes! I am a commercial agent.