All Forum Posts by: Logan Laperriere
Logan Laperriere has started 0 posts and replied 325 times.
Post: Full renovation and second story addition in Westview before & after!
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Congrats on your first fix and flip of your own. I really like the curb appeal. Have you sold the property? Now that you have this experience under your belt, will you continue to pursue fix and flips of your own?
Post: Single Family Investment
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Congrats on your first investment property. $500 a month cashflow is great. Are you self managing the property? Be sure to set money aside for potential repairs and cap ex. WIll you continue to invest down in Chattanooga?
Post: Intro | Looking to Connect!
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Welcome to the Forum!
Post: New Investor - Looking for mentorship in BRRRRs
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Hi Jimmy,
Welcome to the forum. David Greene's BRRRR book is a great book to read. I personally love to use the BRRRR strategy. What states are your currently looking to invest? Having a great local team in place is crucial for an out of state investor. I am a Realtor and investor in Michigan. We have several areas in Michigan where the BRRRR strategy can be used successfully with a $200k price range. If you would ever like to chat about opportunities in Michigan, or just general real estate investing I would be happy to talk.
Post: I would like to buy a house then "house hack" it....any advice...
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Bigger Pockets has several calculators available to use in the Tools section at the top of the page.
Post: 20 yr old debating house hacking or buying property out of state?
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Alex Clark:
What's up y'all, as a young 20 year old I have a question. I'm currently going to school, working full time, and have a business going. I've saved up a decent amount of money and i'm starting to catch interest in real estate. A lot of kids my age want to move out of their parents houses and I'm wondering if house hacking is the move and having buddy's pay rent and move in. The problem is in California it seems very difficult to find a good deal where I could eventually cashflow. I'm young and ready to take the risk If that means It will take years to cash flow I'm in for the long haul. I've also came across buying property out of state and am wondering is that a good option? What advice would you guys have on this? Is there something you wish you did as a young man in terms of real estate?
Alex,
Congrats on starting your real estate journey! House hacking is a great way to invest in real estate and keep your cost of living low. In a few years you can use the built up equity to purchase additional properties.
Post: Closed Our First Deal!
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Congrats on purchasing your first investment property! Having a team you can trust is a huge asset for an out of state investor like yourself. It is awesome that you were able to connect with them through Bigger Pockets.
Post: Real Estate license and how it relates to personal investments
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Josh Haney:
All,
I have recently considered getting my real estate license in NC..I dont necessarily want to be a broker/agent, but I have heard great things from investors I know that have it---from advanced knowledge/real estate network all the way to the ability to be your own agent on your deals (and deals on friends/family). If looking to acquire roughly 1-2 properties per year, it seems to make sense to me with the savings in commissions to other agents. I am also very interested in developing a syndication/fund in the future, and feel like this will only help any credibility to future LPs/GCs/etc.
Does anyone have advice/thoughts/opinions on best way to go about this and if getting licensed is worth it? Id love to connect and learn from someone that has experience in this area..thanks ahead of time.
Hey Josh,
Given that you purchase 1-2 properties per year it may be beneficial to get your real estate license. Saving yourself 2-3% on your down payments can be a nice benefit. In Michigan you are able to put your commission towards your downpayment/closing costs.
You will have to pay dues each year, and pay for MLS access, those add up to a couple thousand a year. Depending on what brokerage you join you will have monthly office costs, and pay a percentage of your commissions to the brokerage. My broker allows us 2 investment and 1 personal deal per year where we do not have to pay the split.
Post: Unsure if my real estate company is appropriately marketing
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
I would begin searching for other management companies. If they are having this many problems renting the property I would worry how well they will manage once a tenant is in place.
Post: Evicting Tenants During Winter
- Real Estate Agent
- Grand Rapids, MI
- Posts 333
- Votes 124
Quote from @Kevin Kalligher:
Thanks for the replies everyone and @Logan Laperriere thats a great idea to keep a couple tenants in the building to lessen the financial burden while doing rehab. I've bumped rents from $600 to $750 for 2 of the units and 2 of the other units have already planned to vacate by the end of the month and made other accommodations. Seems like things are working out alright for all parties involved at the moment. WIll keep you posted and thanks again for the feedback everyone.
Sounds like things are off to a good start.