All Forum Posts by: Kevin Hofstee

@Ricardo R. Interesting didn’t even know that was a thing. Will call the county office today and inquire about this. Thanks for suggesting this!

Hi All,

I took a big first step and recently made a trip out to Western Michigan where I decided to focus my long distance investing efforts.  Have a line on an off-market property in Muskegon, MI - in an area that's being revitalized and looks like it's on the growth path.  

The numbers were looking good until I did a check on the Property Tax, in 2018 it was about $1,000 and had been in that range for awhile but in 2019 it jumped to above $6,000.  The property was assessed around $100K, up from $80K the year prior.
It doesn't have any special assessments other than something for street lights but that was $150.  Local rates are supposed to be about 1.45% - I can't find any information about a major jump.  I plan to call the county office tomorrow to find out, but does anyone know what else might've caused this or where I can find out more info?

Best,

Kevin

I'd also try Lighthouse Property Management, have had a good experience so far!

@Jodi Low can be tough if out of character for the neighborhood. You could have some designs draw up that are modular, where it could be added to over time as the market develops.

Alternatively you might be two split the land into two parcels and get a 2nd unit of the same size. I believe if it’s that big, that you can in Portland, but also depends on the current house location, etc.

@Kevin Hofstee *fund

can’t seem to edit posts from the mobile app 🤷🏼‍♂️

@Jodi Low 500 sqft seems small for Portland standards. Is there room on the lot to add some square footage? You might be able to find that with equity and get higher rents and a good ROI

@Nick Mumford I’m just getting started here too, I’m pretty good with excel/financials (even took a real estate investing class during business school). I’m looking to meet like minded investors in Portland, happy to get coffee and talk financials and then maybe hear your thoughts on deal finding in town.

I’m in a similar boat looking to get started. Are there any good Portland meetups or other that would be good to start attending?