All Forum Posts by: Charles Kao

@Troy Ritter Try more

platforms. For some reason we have some properties that do

AirBNB than VRBO and others the other way around. We also have used Expedia and Travelocity.

@Tejveer Singh Well Grand Haven and Muskegon are completely different areas. While close you couldn't have picked two more different markets. What made you settle on those 3 areas?

@Matthew Medhat Not a matter of area

its a matter of your ability to source deals you can truly BRRR. Higher end homes easier to BRRR but harder to cashflow.

@John Andrews Having done both its a depends. Commercial agents do fewer deals but bigger one and far more complex in general. My wife likes residential better because she likes sharing in the homebuyers experience and also deal flow is steadier and easier to do alot of deals. On the commercial side you deal with leasing and or much larger deals and I don't have to deal

with clients that have no value for my network or my experience because I am generally dealing with seasoned investors or people

who want to get on my A list. I also work more

9-5 M-F hours because my clients don't want to work outside those hours because they are full time business or real estate owners in general. My wife gives up alot of night and weekends because most of her clients have 9-5 jobs. Commercial in my opinion is much slower sales cycle to get your first deal. You can make alot

of money in both so I would not let money steer your decision but which you enjoy more.

@Andy C. It really depends on how you buy but you generally can get much better cashflow in the Grand Rapids area than California but also not as likely to get the appreciation you would in California. With that being said its getting quite competitive because others recognize the affordability. Only a decade ago I rarely saw an international investor and now I see them frequently.

Go to the RPOA website for more information.  There is no cost to go to meetups but I always recommend to join RPOA because they lobby for many landlord costs in addition to the education and forms.  Judges are used to all the forms so don't scrutinize them if you end up in court.  I am not paid or an affiliate of the RPOA FYI.

@Scott Passman Muskegon is a renters market. Tenant quality and financing can be difficult on homes that cheap but I know many investors that have done well there. We sold 35 properties there last month and majority of buyers bought 3-6 properties at a time

for between 22-35 a unit on average. If you get a solid renter not hard to get a 20-30 percent cash on cash return.

@Erica Allen Buy off market. Try the two meetups in GR on Mondays or the impromptu meetups on Facebook.

@Sarat Khandavalli I have many investors that want what you are asking for only to realize the cashflow is significantly less albeit safer and more predictable. Families want to live in those areas but if they can afford it they are living until they find a permanent house or sacrificing 1-2 rooms to stay in budget. Vacancies are high often as many times the tenants find a home in winter to purchase when market slows as well.

Only time I recommend this strategy if i you offer an early exit clause to tenants where if you buy a house through our brokerage we allow then to break lease, or if the investor seeking more asset preservation than growth. Its nice because if they are buying a 200-400k house that makes up for lost cashflow and they often refer others. Reach out of if you'd like help.

@Jason Hartman I know other Podcasters that have found people to manage their content off Fiverr with success. Does the restaurant you have onsite already have a tenant in place? If not you could dangle that as a carrot with brokers to get their input and also see if any have somebody in mind for the location already.