All Forum Posts by: Charles Kao

Mark Ferguson Mind if I PM you about investing with twins? Wife and I are in same boat and trying to figure out balance.

I am not sure if I would do something out of state in Michigan but I would recommend Grand Rapids. One of best markets in country and still in your price range. In particular downtown GVSU or Davenport. PM if questions

I agree with Dana Hoffmann and all I'd add is that in my experience even if they do agree they normally do not stay much longer. What I have offered to my tenants in the past is kind of a unilateral contract that they can give me 60 days notice to move out but I will guarantee their price for the term of their contract or even longer so they know this is not one of many increases. If they do move out on their own accord 60 days gives me more than enough time to find a tenant.

Wife just got her license and I would say the amount of control it gives us is amazing and I had my realtors login to the MLS too. We also have started wholesaling and it adds another dimension to offer to buy, or list the home for our clients. If you are part time I would say no but my wife had not been working for two years and it also helped us get a grasp on a new marker we moved into plus real estate professional status helps with alot of writeoffs.

Detroit has definitely earned it's share of bad press but all this bad press is actually making investing easier. In 2008 Grand Rapids was voted one of saddest cities to live in the US and just this last year it was rates the best real estate market in the country. I am grabbing rents at 4

percent of purchase price in the Detroit area.

Honestly Detroit is not so bad because nobody lives there but I think you have to be a big player to control entire blocks or know the area very well.

Has anybody converted a hotel to apartment building. Any caveats of things I should look out for that may be unique to this transition?

Welcome Ari. Do you attend any of the local REIA meetings? How far west do you invest?

I am a big proponent of cash for keys to be honest. Makes you come put as a good guy as wel

Hi Henry, Are you planning to manage yourself or use property management?

Definitely go to a sheriffs sale once with intention to not big just to get your feet wet. Its a whole new animal.