All Forum Posts by: Logan Laperriere
Logan Laperriere has started 0 posts and replied 325 times.
Post: I'm a new investor looking for commercial properties that I can seller finance.
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Tom Stacey:
Quote from @Logan Laperriere:
Hey Tom,
Welcome to the BP forum. I have bought commercial properties in Metro Detroit with owner financing. What type of commercial properties are you looking for? Why are you interested in owner financing in particular?
I’m looking for multi family properties. I’ve decided it’s my best root considering my amount of capital.
That’s smart. Getting into multi families is a great investment strategy. Are you looking for turn key properties or value add?
Post: Cash out Refi Success
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Jamie O'Connell:
Quote from @Logan Laperriere:
Great job! That is a fantastic deal! Did you do the rehab yourself or hire a contractor?
O no. I know my strengths and doing anything construction is beyond any bit of skill I have. I am very lucky I found a great contractor for my first prop and he’s now working on property #4 for me.
Knowing your strengths is an important key to success. Sounds like you have a great team in place.
Post: I'm a new investor looking for commercial properties that I can seller finance.
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Tom,
Welcome to the BP forum. I have bought commercial properties in Metro Detroit with owner financing. What type of commercial properties are you looking for? Why are you interested in owner financing in particular?
Post: Cash out Refi Success
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Great job! That is a fantastic deal! Did you do the rehab yourself or hire a contractor?
Post: Does DSCR loans offer mortgage Forbearance?
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Have you reached out to your lender?
Post: Approve or Deny? Expenses > Income but meet Gross 3X of Rent
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
If you believe that they will be short $800 per month I would not approve the applicant. Going 1-2 months without rent now to find a qualified tenant is better than potentially having to evict this applicant. Evictions can be a long process and can end up costing you several months of lost rent and property damages.
What methods are you using to advertise the property for rent? have you considered offering any incentives to applicants? for example $500 off first months rent, lower security deposit, free flat screen tv? any of those may help bring in applicants.
Post: New to real estate investments
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Craig I.:
Hi All,
I'm local to the SF Bay Area and I'm looking to aggressively start my real estate investment portfolio outside of CA. To ensure that I do this right, I have an immediate ask if anyone has recommendations or referrals for a real estate attorneys with clients in CA who heavily invest out of state. Presently I'm looking for legal advice on setting up a LLC.
I'd like to acknowledge I'm the noob to real estate investing, but I've been trying to soak up as much knowledge from BiggerPockets and other real estate investment knowledge sources. Any and all feedback, recommendations, tips/tricks are going to be greatly appreciated.
My real estate investment goals:
- Goal #1 Get my feet wet: Establish a minimum of 2 long term rentals out of state in 2024(hopefully in the next 3-6 months), location TBD but I've been looking at Missouri presently. Open to ALL locations.
- Goal #2 Building a Network/Team: Establish real connections with other like minded investors or professionals for advice, partnerships, and general support. Hoping to meet hungry and driven professionals that align with my ambitions.
- Goal #3 Evolve and Scale: Evolve and diversify my real estate investments strategies to help my portfolio grow and scale.
- Goal #4 Become an Real Estate Investment SME: This obviously won't happen over night and will most likely take a decade or two to achieve. But if I'm successful, I'd like to become a beacon on knowledge to help others in the community.
For those who read this far! I appreciate you and hope that we can connect :-)
Hi Craig,
Congrats on starting your real estate journey! I see that you are interested in investing out of state. Have you considered investing in Michigan? I have been investing here since 2014. We have some great markets that still exceed the 1% rule. I currently invest in Grand Rapids, Kalamazoo, and Metro Detroit. If you would ever like to chat about the local market feel free to reach out. I am always happy to help fellow investors.
Post: Is there a way to see if alot of people are renting?
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Alex Clark:
My biggest fear with real estate investing is what if I can't find tenats? Is there something that tracks rent in that area, to see if it is in demand?
You can use the Rent Estimator tool at the top of the page. It will give you a good idea of market rents in the area.
Post: Our 1st rental
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Jerome,
Welcome to the BP forum!
Now that this property is renovated and rented, will you continue to purchase additional properties?
Post: New person with Interest in earning income through rental property. How to start?!
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hey Bryan,
Welcome to the BP forum!
What type of rental properties interest you? Single family, Multi family? Are you looking to invest locally or out of state?
To be as hands off as possible I recommend creating a great "Core 4" team (Property Manager, Contractor, Real estate agent, and Lender). If you would ever like to chat about investing feel free to reach out. I am always happy to help fellow investors.