All Forum Posts by: Daniel H Hauer

 Feel free to DM me the info on the property you have. Thanks.

Hey Mark,

Great to hear about your journey into real estate investment in Michigan! I'm Dan Hauer, a property manager and investor myself in the same region. It sounds like you're well on your way with securing pre-approval and targeting a specific market segment.

As someone deeply invested in the local real estate scene, I can definitely share insights and experiences, particularly around the Detroit metro area and its suburbs. Being a property manager first, I have a hands-on perspective on what works and what doesn’t in managing 2-4 unit properties, which could be invaluable as you navigate your investment journey.

Additionally, if you're looking into underwriting deals or need guidance on the best approaches for investment in this area, I'd be happy to discuss further. My experience could help you avoid common pitfalls and maximize your investment potential.

Also, if you're in need of a broker to assist with any part of your investment process, I can connect you with reliable professionals who understand the Michigan market intimately.

Feel free to reach out if you want to discuss strategies, market trends, or anything else real estate-related. Looking forward to the possibility of collaborating or simply exchanging ideas!

Best, Dan Hauer

Hello,

My wife and I specialize in property management and working with investor buyers in the Metro Detroit area. We work within the city of Detroit as well but generally steer first time investors away as the risk profile is very high. If you're interested feel free to DM me and I can set up some searches for you in some B and C areas where we can still get a great return but also protect your investment better. Either way, welcome to BP, there is no better place to learn than here.

Hey there!

First and foremost, welcome to the BiggerPockets community! You've chosen a fantastic platform to dive into the world of real estate investing, and your goals and mindset are already setting you up for a promising journey.

It's impressive to see that you have a clear vision of what you want — seeking cashflowing assets, considering long-term rentals, and even the openness to evolving your strategies as you learn. Many seasoned investors started right where you are now, and with the kind of clarity and enthusiasm you bring, you're on the right path.

I resonate with your approach a lot. Not only am I an active investor, but I'm also a property manager. Managing from a distance and being hands-off, especially when juggling day-to-day tasks, is something I'm familiar with. Having a reliable property manager can make a significant difference in your journey, especially when you're looking to invest out of your immediate area.

If you ever find the time and interest, I'd love to discuss your goals in detail and potentially offer some guidance or share experiences. The world of real estate is vast, and having allies can make the journey smoother and more rewarding.

Once again, welcome to BiggerPockets! Wishing you and your wife all the best on this new adventure. If you're ever up for a chat, just drop me a line!

Warm regards,

Dan

These are all great questions and it seems that most of them were answered by other posters. One thing I would point out is that DTE and Consumers Energy have landlord accounts so that when your tenants turn off gas or electric they immediately transfer to your name and your account. This is obviously important here because we have winter and frozen pipes are far more expensive than keeping electric or gas on for a non paying tenant. Priority 1 is to protect your asset. If you ever decide you want to check out using a property manager please feel free to reach out to me, that is what I do full time and would love to chat and see if we are a good fit for your property. 

Hi Jason, I'm not in the STR business but my wife manages our properties as well as a few for others around the state. She is open to taking on a few more and I'm sure she would love to talk to you about it. If you're interested in setting something up feel free to DM me.

Top 5 Property Mangement Complaints

1. I can never reach my property manager when I need them!

2. The fees are constantly changing and I never know what I'm being charged

3. I'm not sure if my manager is even screening the tenants before they are being placed.

4. Every time I have a repair it costs me twice as much as what it should have.

5. My manager promised me regular property inspections and I don't think they have ever even been there since we signed the contract.

These are just some of the complaints I hear from investors on a regular basis. Llandlords often voice a series of common complaints. From unreachability of managers to inconsistent fees, the concerns are many. But with Northpoint Asset Management and its managing broker, Daniel Hauer, the narrative changes.

Here's how:

1. Always Available: One of the biggest gripes landlords have is the difficulty in reaching their property managers. At Northpoint, we pride ourselves on open lines of communication. We've set a precedent of being available, ensuring that every client's concerns are addressed promptly.
   
2. Transparent Fees: Nobody likes surprises when it comes to costs. That's why Northpoint Asset Management is committed to clear and consistent fees. We believe in transparent billing, ensuring our clients always know what they're paying for. 
3. Thorough Tenant Screening: The value of a good tenant cannot be overstated. Northpoint places an emphasis on comprehensive tenant screening. Every potential tenant undergoes a rigorous evaluation process to ensure they're the right fit for your property.
4. Cost-Effective Repairs: Property maintenance shouldn't break the bank. Northpoint Asset Management ensures that all repairs are done cost-effectively, without compromising on quality. We understand the value of your investment and work diligently to protect it.
5. Commitment to Property Inspections: A promise is a promise. Regular property inspections are not just a contract point for us; they're a commitment. We ensures that every property under Northpoint's care receives its due inspections, ensuring the property's upkeep and the peace of mind of our landlords.

In a world where property management complaints are common, Northpoint Asset Management is proud to be different, setting new standards in client service and property care.

If you have ever found yourself saying something mentioned in this post about your property management firm please reach out to me and let's have a conversation about how we might be a better fit for you and your asset. 

My name is Daniel Hauer and I am the Managing Broker for Michigan, the buck stops with me, no matter which member of my team might be working with you at any given time. You can reach me at 586-800-4604, let's talk about real estate!

I get it, that's why I actually brought it up. Similar here in that all I do is property management and I refer out all of my buyers to local agents. We manage properties over in Marine City, Algonac etc. If you ever want to chat about how we could work together let me know, we pay ongoing referrals for any management contracts we get and like I said I refer out 100% of the retail buyers we get.

 Thanks Renee, are you doing property management as well as real estate?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $110,000
Cash invested: $35,000

This 400 sq ft Tiny House serves as our short-term rental property, primarily attracting fishermen due to its prime location on the Lake St Clair canal. Recognized as one of the top 20 Bass lakes globally, the property enjoys high demand throughout the year. We are actively seeking investors to collaborate on similar ventures around Michigan's lakes.

You can check out our active listing on Airbnb here http://bit.ly/3tdEq2i

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

We first got interested in this through two other short term rentals we had owned and operated previously. The first two units we did went well but they had limitations to what we could do, one of them had no internet available due to being in a remote location and the other was a condo and we just had too many neighbors complaining about people coming in and out at all hours. We learned some lessons there and came up with a plan to target a very niche market (sport fishermen).

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

This was a for sale by owner I came across on Zillow. I'd been on the lookout for the smallest place I could find on the lake. This was perfect as our test case house and to prove out the model.

How did you finance this deal?

We used some cash from previous sales as well as a private lender (we are always interested in speaking with lenders as well for new projects.

How did you add value to the deal?

We brought this place to a complete 180, from a tiny cabin with no use case to a fully functional fishing cabin with an 85% booking rate. The compact size of this home ensures reduced overheads and since the fishermen are away for the better part of the day, it experiences minimal wear and tear.

What was the outcome?

We are up and running and happy t report we have a ton of bookings!

Lessons learned? Challenges?

We did learn that we want to target a minimum of 600sq ft for ease of long term debt acquisition. We discovered that it is near impossible on any property smaller than that. Our next property of this type will be built to suit and vacant waterfront land.