All Forum Posts by: Keith Jourdan

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Anyone care to share a recent transaction they were a part of on a 5+ unit multi. 10% down....25% down? How much reserves were required? Re course? non recourse?

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I have been thinking about buying a "tenant only phone" for a while now. Getting texts and calls on my personal phone at all hours is not ideal . 

Good point on it is what it is . High risk high reward. I want to continue to buy in these areas, but put systems into place to make things run smoother. 

I handle everything myself. I do have some great contractors I can call for fixes. I used to try and fix everything myself with poor results lol

Been buying C- rentals for the past few years. I know everyones definition of the classes is different. My definition of C or C- is not anywhere near a war zone. But an area where 35% of the tenants are on some sort of social assistance, higher turnover, occasional drama that you would never get in a B or A neighborhood. Out of 12 rentals, each month I always have 1 that has a "story" why the rent will be 10 days late etc.

I love the cash flow, I have rentals where I am getting 30% cash on cash returns, but it often wears on me. I have friends with rentals in A areas and it seems like a dream. 

I am a full time realtor here in southeast Mi. I have helped several BP members buy rentals and flips in the area. Let me know if you need any help!

Full time Realtor is perfect for someone who flips and owns rentals. 

Been doing it for a few years now and it has been great.

3 bedroom 1 bath turn key home in Wayne Michigan. Market rents for 3 bedrooms are $850-1000 in this area. 

Home is been completely updated. New ceramic tile in kitchen and bath, new water heater, new laundry tub, Front and rear porch painted and stained, new paint, new carpet, New interior and exterior doors, all new lighting in and out of house.