All Forum Posts by: Evan DeVisser
Evan DeVisser has started 5 posts and replied 51 times.
Post: Looking to connect with commercial investors in Grand Rapids, MI
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Hi Michael and welcome to the Grand Rapids market. I have a few good connections that own commercial multi-family. How large of a deal are you looking to take down?
Post: New Member Introduction
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Welcome to BP Sneha. You have come to the right place as many of the Grand Rapids agents and contractors here are very helpful. Please reach out anytime if you need anything.
Evan DeVisser | Greenridge Realty
Post: New Investor Introduction!
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Congratulations on your flip Frankie. Welcome to the forms my friend.
Post: To payoff mortgage or hold cash
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Here is the angle I am taking over the next year or 5. This is not to say it's the best option for everyone, but it's what works for me and is what I think will ultimately protect my money the most.
Besides a health cash reserves stash I want no extra cash laying around. I want all my cash in hard assets because I personally believe we are going to see a lot of inflation with all the cash being printed lately.
I think if you have extra cash laying around I would pay off the SFR mortgage. It may not be the best ROI, but to me I would take the 10x cash flow.
Post: Is there anyone doing new build small multi-family?
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Originally posted by @Charles Kao:
@Evan DeVisser
Getting very popular as alot of R2 and R3 lots particularly in Kentwood still available. One of reasons I think you are seeing even large apartment complexes built as a bunch of small multi is because the fire suppression system is getting significantly higher so by building less population dense buildings you can circumvent a significant cost.
Is that why they are doing that Charlie? I was wondering why I had see that recently.
Just a quick side note: I am listing to episode 178 again. I forgot how funny this episode was. I looked up a punchable face in the dictionary and sure enough Josh Dorkin's name is in there.
Post: Is there anyone doing new build small multi-family?
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Originally posted by @Mike Mocek:
Hey @Evan DeVisser Great question, and I would be more than happy to discuss this and my experience with you. 3 years ago, I ventured into four new builds in Tampa, FL. While it was an experience, I do not think I will do it again (ok wait .. I am doing it now with 2 more in Florida :P). Essentially, you have nailed it on the head, the appreciation is great, I have 4 hours right now valued at $325k HOWEVER, they are sitting in an area where houses are only at a value of $225k. With that being said, I will need to hold them for a while before anything however, with my rents at $2,500 to $2,800, I am ok with holding them.
I hope this answers your question, feel free to message me and we can chat!
Thank you so much Mike this is super helpful. That was one of my concerns also that the new build value would be dragged down by the surrounding comps. Do you think you made the right choice if you were to hold these long term? (anything longer than 10 years?)
Post: Is there anyone doing new build small multi-family?
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Originally posted by @Connor Anderson:
I don't know of any builders doing it but I know there is demand from my buyers and myself looking to purchase nicely constructed side by side 2-4 units in Grand Rapids.
Connor you are not alone. I have seen the same thing with buyers which is what got my wheels turning. I thought it could turn into a profitable investment strategy.
Post: Is there anyone doing new build small multi-family?
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
I have kicked around doing a new build small multifamily for years now. Personally, I always thought that they would be a product that would appreciate faster than older units. I always figured that they would be a better investment long term even if you only break even for the first years.
Has anyone done this? If so how has your experience been with doing a build to rent scenario? Thanks in advance.
Keywords: New build, Grand Rapids, Chicago, appreciation, Cleveland, Toledo,
Post: Deal Number 3: Buy and Hold
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Originally posted by @David Kramer:
Thanks @Evan DeVisser! I am looking to add another property in 2021 (either SFR or small multi). Currently, I am consuming as much literature as possible on multi-family properties to build my knowledge base.
That is awesome David. Small multi is the place to be. Keep it up my friend.
Post: Deal Number 3: Buy and Hold
- Realtor
- Grand Rapids, MI
- Posts 53
- Votes 25
Congratulations David! Where are you headed in the future with investing?