Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Keith Jourdan

Keith Jourdan has started 42 posts and replied 276 times.

Post: BRRRR single family with before and after pics! Metro Detroit

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Thanks Chris ! Yeah drop me a line

Post: Southeast Michigan

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361

I concentrate in the west side wayne county suburbs . Westland /garden city /Redford /wayne area . Buy 70-100k. Rent for 1100-1300 in good /safe areas.

Post: First deal done! First rent check in the bank!

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Awesome job Denny ! Glad I could be a part of it.

Post: BRRRR single family with before and after pics! Metro Detroit

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Originally posted by @Stephen Meche:

@Keith Jourdan, it looks great.  I look forward to working with you in the future on investments in the detroit area.

 Thanks Stephen! Looking forward to helping you out.

Post: BRRRR single family with before and after pics! Metro Detroit

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Originally posted by @David Schulwitz:

@Keith Jourdan - As both a fan of Detroit and the BRRRR strategy....awesome job!! Those photos look great and you can see the value you added to the place.

I was born and raised in Saginaw - huge Detroit sports fan still today. Move all around the US the last 13 years, but I've settled in DFW, Texas (for now). Just submitted my first offer for a BRRRR property about 6 hours ago, so hopefully I find out tomorrow if my bid won it.

Any advice or mistakes that you made the first time around doing BRRRR? I'll be using a HML because I don't have quite enough capital at the moment to go all cash.

Anyways - great job!  I think I agree with above - maybe try to raise the rent slightly if you're being flooded with calls?  

Dave

My advice with all rentals is to go cheaper on materials. Tenants are hard on houses, some obviously better then others. I don't do tile floors in kitchens , too expensive for labor. Tenants will crack them. Use sheet vinyl, cheap and very sturdy. Also try to avoid carpet where you can. Most of the houses in my market were built in the 1950s and have original hardwoods, it is worth it to refinish, very tough for tenants to destroy hardwoods. Good luck!

Post: BRRRR single family with before and after pics! Metro Detroit

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Originally posted by @Jay Hinrichs:

Looks great Keith keep up the good work... stack up those rentals I think thats the right play at present in that market

 Thanks Jay!

Post: Holton Wise annual volume goes from $283k to $54M+ in 5 years.

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361

awesome job !

Been following your business for a while now . Your market is a lot like mine . Been doing sales /management /construction as well . 

Keep up the good work and making a name for the Midwest !

Post: BRRRR single family with before and after pics! Metro Detroit

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
I bought the house and did the rehab with cash. So I will be able to pull out 70% of whatever it appraises for . The trick with the BRRRR method is to buy one cash , refi out and buy another , keep repeating the process . A great way to build equity and cash flow . This method deters a lot of people due to the large cash outlay for your first property. But for those with cash it is a great method .

Post: New partners and bigger network

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Originally posted by @Jeffrey Holst:

Im in Chattanooga and looking here and also in South East Michigan.  I'd like to acquire another multi family.  My partners and I currently have a 32 unit under contract in Michigan but would really like to pick one up in Chattanooga or North Georgia.

 Where in Michigan is the 32 unit?

Post: BRRRR single family with before and after pics! Metro Detroit

Keith Jourdan
Posted
  • Property Manager
  • Metro Detroit, MI
  • Posts 305
  • Votes 361
Originally posted by @Keyonte Summers:

Great job as always Keith hopefully one day we can work together or I can pick your brain on getting to the next level. It's hard find good contractors in the city that does the work right the first time let me know if you have go to crew or company. 

 Thanks Keyonte

Yes finding and keeping good workers is a tough part of this business . Back in 2010-2014 contractors were begging for work , now investors are begging for contractors .