All Forum Posts by: Logan Laperriere
Logan Laperriere has started 0 posts and replied 325 times.
Post: Hello from Rehoboth Sourthern Delaware!
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Fats,
Welcome to the Forum,
Do you plan to rent out the condo as a short term rental?
Post: Investing remotely out of state
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Jonathan,
Welcome to the BP community!
Congrats on starting your real estate investing journey. Have you considered investing in Michigan? we still have several areas that exceed the 1% rule. I personally own properties in Metro Detroit, Kalamazoo, and Grand Rapids. As an out of state investor having your "Core 4" (Realtor, Property Manager, Contractor, Lender) is a very important part of your success. I work with several out of state investors helping them to build their local team in the area. If you ever want to chat about the market in Michigan feel free to reach out.
Post: Hello from Dallas
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Kenny!
Welcome to the BP Forum!
Are you looking to invest locally in the Dallas market? will you be looking for single or multi family properties?
Post: My first day -- excited to be here with all of you.
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Shannon,
Welcome to BP!
Congrats on starting your real estate investing journey! Are you looking to invest in the Denver area?
Post: Introduction: Northern MI Realtor
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Sheena Konas:
That’s awesome! I went to Western and spent most of my life there so I’m very familiar.
Side note- I didn’t realize I was logged into my husbands account when replying above. That was me!
Haha thats too funny. I went to Western as well.
Post: Introduction: Northern MI Realtor
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Kyle Konas:
It is beautiful! We love living here. We don’t own any in TC but we do in Kalamazoo, which is where I was born and raised.
I own some student rentals in Kalamazoo. I have found it to be a great place to invest.
Post: Grand rapids Market
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Lydia Bar:
Hi everyone,
We are real estate investors who reside in NJ. We own a single family in PA and a multi-family in Albany, NY. We have family in Grand Rapids and we Lately started looking at Grand Rapids market since we have connections to the area and sorta familiar with it. I know there have been a lot of predictions regarding Grand Rapids market over the last 2 years or so. But I noticed that rent prices are still pretty low compared to the rest of the country. Meanwhile property prices seem to have caught up. So really running numbers on any property i come across have not been working. I am looking at multifamily specifically as I doubt numbers would work for single family there ( but would do that as well if it works). My questions to those who has been investing there, how do you make the numbers work? Did you purchase a while back while purchase prices were still low? Are you purchasing in the hopes that rent prices will catch up?
my understanding that there is rent control as well and can not increase rents more than 7% a year for the same tenant.
Just trying to see if there is a possibility to enter this market at this time
TIA
Hi Lydia,
Currently Michigan legislature states "a local governmental unit shall not enact, maintain, or enforce an ordinance or resolution that would have the effect of controlling the amount of rent charged for leasing private residential property." ACT 226 of 1988
Grand Rapids has a very competitive housing market. I currently own investment properties in Grand Rapids, Kalamazoo, and Metro Detroit. I have several clients still actively purchasing properties in the area. Cash flow has been more difficult to accomplish with the higher prices and rates, but it is still achievable. Off market deals can be a great source for potential properties. I am a local realtor and work with several out of state investors. If you would like to chat about potential strategies for investing in Grand Rapids feel free to reach out. I would be happy to talk with you.
Post: Out of state investor looking to connect and network
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Michael Hodde:
Hi everyone,
My name is Mike. I'm a Detroit suburb native but have been living in Philly since 2015. Have 'sort of' followed BiggerPockets for years, but finally bought my first Detroit duplex in July, 2023. Hoping to grow in the Detroit market in 2024. While I still have a lot of friends/family back home, none of them are into real estate investing, so I would love to connect with anyone willing to chat!
Hey Michael,
Welcome to BP. I also grew up in Metro Detroit (Berkley) I have been investing in the area since 2014. I would be happy to chat with you about investing in the area.
Post: Introduction: Northern MI Realtor
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hi Sheena,
Welcome to the BP Forum,
I am a real estate investor and agent in Michigan as well. Traverse City is beautiful. We vacation up there a few times a year. Do you own STR's in the area?
Post: Newby looking to make connections!
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Stuart Getz:
Hello everyone,
I am new to the world of real-estate investing and would like to say hello!
Looking forward to jumping right in and learning as much as I can.
Ideally, would like to buy my first rental property (havent decided if STR or LTR just yet) in 2024.
My wife and I both have 6-figure W-2's with a good chunk of money (~100k) to the side to invest. We do plan to move this year, out of state, and turn our current home in to an LTR. Which tends to lean me toward an STR to bring in more cash-flow.
Need to get out of the coporate rat race we're in now and build and empire!
Any and all suggestions are appreciated.
Thanks
Hey Stuart,
Welcome to the BP forum,
Congratulations on starting your real estate investing journey! What areas are you currently looking for investment properties? I have investment properties in Metro Detroit, Kalamazoo, and Grand Rapids. If you ever want to chat about investing feel free to reach out, it's always nice talking with fellow investors.