All Forum Posts by: Jason Carter

How did this one turn out @Jiana Bickham? Get it sold? 

Inspiring job @Maggie Jones!

Your cash flow is still going to be too low in Encino (or most of LA) to amount to anything. I'd follow the house hacking advice from @Brent Coombs. One of my big regrets in investing is the fact that I didn't do that early on. (Didn't know about it).

Do you have to move after 1 year? Get a duplex, tri or quad and take control of a much bigger, more valuable piece of property. You'll see much larger appreciation and you can improve units over time to increase your rents and get that cashflow. Don't focus on 100-200/month cashflow right now. That ain't ****, trust me! And from the looks of your profile and the good job you have - you probably don't need that right now. Instead, focus on building your foundation for a profitable future. 

Can you get an FHA loan and buy one for 3%? That's what I'd try. Fix it up over time. Get experience working with tenants, contractors, experience with rehab work, etc. Raise rents. Then buy another one and repeat. All of a sudden you've got 6 or 8 doors. And keep repeating.

Just my two cents.  I think you'll get to where you want to be quicker with the house hacking strategy. As opposed to condos with minimal cash flow and hoping for appreciation. Best of luck to you! 

Congrats @Jake Thomas! Inspiring story and best of luck moving forward. 

I'd sell the townhouse, then buy a small multi-family now in GR. Prices should continue going up there, so I'd get in now. Let the other tenants pay your mortgage while you explore the city. Find an area and/or house you love and then buy that. Put a tenant in your place in the multi and you've got a great cash-flowing, and given that it's GR, appreciating , investment property as well as a house you love. 

Hi @Melissa Lieb. I live in Culver City and started looking into Grand Rapids last year. (When prices were much better :) ) Bought 2 properties there earlier this year.  

You can find a list of questions to ask property management companies in the Files section of BP. You could also probably enter in the search bar and find similar in the forums. 

I interviewed a few and chose United Properties where I work with 

@Tim VandenToorn who it looks like you may have been in touch with. 

A great local agent and fellow investor who also helped me a lot is  

@Paul Leason.

There were also a handful of other Grand Rapids investors from BP who were extremely helpful with tips and advice. Hit 'em up with your questions - one of the reasons I chose Grand Rapids was the level of support I received from local investors. 

I'd be interested in a meet up. I've been at it for a little over a month. 

Check out postlets. I've never used but I believe that makes it look more professional and pushes out to more sites than just CL.

Check out Karen Nilsson at Rivertown Insurance. 

I use them, it's only been a few months but their prices were good, super easy to work with, very responsive, and they came recommended. I'm not sure about the syndication thing either but she can might be able to answer that. 

Welcome @Elice Hennessee. I'd check out the areas @Eric Dowling recommended. 

If you're house hacking a duplex or triplex it's most likely a personal purchase. An LLC is going to have a hard time getting a loan on anything under 4 units.

More than 4 units is a commercial property which requires a commercial loan. Those are easier for LLC's to acquire but it's a different ball game.