All Forum Posts by: Connor Anderson

7 PM on 9/13 at the Buffalo Wild Wings on 28th St in Grand Rapids.

Come meet and network with like minded real estate investors from all over West Michigan. From people just starting out to investors who have seen it all will be in attendance. 616 Real Estate Investors Meet Up is hosted by experienced real estate agent and investor Connor Anderson, and local investor Brian Cunningham.

Quote from @Montez B.:

@Connor Anderson Hey Connor do you specialize in Single or multi family in Grand Rapids ? I see you are a Realtor.

 Hi Montez - About 50% of my business is multi family and the other 50% is single family. Would be happy to discuss either one with you!

Hi Joe,

My aunt and uncle used to rent their cottage on Horse Head Lake to students at Ferris. Outside of that not super familiar with student rentals in Big Rapids specifically but could for sure give you general advise.

Hi Mark! Welcome to BiggerPockets and West Michigan. House hacking is by far my favorite strategy for beginners and a strategy that I personally use. I am a local agent and have worked with many house hackers I would be happy to connect. You should attend the monthly West Michigan House Hacker on Meet Up. My advice to you would be to make sure you commit to the the right agent and lender. Not all of the all are created equal, especially when it comes to the house hack strategy. Strongly encourage you to find people that have done it before, helped other do it, or better yet have done both! Best of luck and feel free to reach out!

Love this strategy and that location is prime. I own a property in this area and it's cash cow! Good work man.

Long time no talk Brian! I host a virtual House Hack specific meeting once a month for people in West Michigan. Hoping to transition to in person in the summer months. You should be able to find it on the events page here on BP.

Sick of paying high rent? Want to buy a house but saving up 20% is impossible? Monthly mortgage payments are too high for you to tackle student loans?

Then House Hacking is for you. House Hacking is when you use a low down payment loan to buy a house, 2 unit, 3 unit, or 4 unit property, live in one portion of the house, and rent out the other parts, creating a situation where you get to live for free!

Sound interesting?

Come and learn from experienced House Hacker and Investor Friendly Agent, Connor Anderson on how he has tackled two successful house hack properties and has helped 40+ clients purchase great house hack and investment deal.

Connor will walk you through what house hacking is, how to get pre-approved for a loan, how to identify good house hack deals, and what to do once you have closed your first deal!

Hi Kyler! House hacking in Grand Rapids area is a fantastic way to start investing, I have a few house hack clients in the area under contract right now. One thing to pay attention to when looking at houses are you must pick multi family that you can actually move into right away and not property that has tenants currently on long term leases. Common mistake I will see non investor friendly agents make when looking with a house hacker!

Congrats on your success so far Henry! The reason your lender is a little skittish is because you are required to stay in a property bought with an FHA loan for at least 1 year. So you still have some time before a lender would give you another owner occupied loan. Getting a HELOC can be a good way to use the equity in your home to then do more deals, but you may not have enough equity in your current home to pull much cash out. Lenders will still want to see roughly at least a 15-10% equity position in your home after you pull out that HELOC. Hard money is always an option but they also are looking for down payments of 25% to purchase a rental. Your best and easiest bet might be to as soon as you have met the 1 year requirement in your current house hack get another low down owner occupied loan to get another house hack! Feel free to reach out to me directly if you have any other additional questions!