All Forum Posts by: Matt Burr

@Ashley Hamilton nice work! I live just outside Detroit and bought my first duplex in the city a few months ago. Problem is we are struggling to find good management and contractors to get the little bit of work done that needs to be to get it rented. Any suggestions?

I have several houses in other areas and have never had this issue.

Thanks

“With Courage in their blood and fire in their stare” Dispatch

A friend and I who each own individual properties are looking to start purchasing property together. We each have our own LLC. We are buying in Southeast Michigan.

What recommendations do people have for the best way to make this work while protecting ourselves. My thought is form a JV in which each LLC owns 50%. I would assume we could also just start a new LLC with each of us owning 50% however we are both married so to please spouses that would land up with a lot of people listed as owner.

Any thoughts would be appreciated. 

Thanks

Matt

This is my neighbors house that is for sale. They are desperate to move and I have just learned he is basically just looking for any type of offer. Realtor comps say the house is worth about 400k after updating appliances and the counters in the kitchen and bathroom. Possibly a few other modifications probably about 10k in total. He is willing to even go as far as a land contract with 80k down. I would love to take the deal myself but don't have that much cash. I could put up about 40k. I know this is kind of broad but I am open to suggestions on how to work the deal. 

Evan Manship and Randy Charboneau I'd be happy to see some examples of what each of you have available in your markets. Feel free to send me a PM. Thanks Matt

Randy Charboneau yeah I know Grand Rapids is very hot. Prices there are also climbing very fast. What is Kalamazoo like in comparison. I tend to shy from Grand Rapids on the same logic as Nathan G. But I'm also sure there are still deals to be had.

I live in southeast Michigan particularly the Ann Arbor area. Our market is so inflated good investments are very hard to find. Heading east to Detroit is certainly an option but there is still a lot of risk tied to much of that area. Long term it is likely a good bet but short term but a good deal could still mean lots of risk. Recently I have been looking on the west side at Grand Rapids and Kalamazoo. Also have heard for a while now Indianapolis is a good area. I'm in the market for good single families or small multi families. Anyone have experience in these areas? What other areas might you suggest?

I picked up my BS in Mechanical Engineering. Then was quickly trained on the job by the oil and gas industry to be a project manager. They are both complimentary and very helpful. The engineering side helps with the analytics and repairs. The project manager is all about sequence of events, budgets and timelines.

Charles Kao John Underwood Mark Sheppard Thanks again for the advice. One follow up question how do you guys deal with the difference between AirBnB and VRBO when it comes to minimum stays. I can require certain stays with VRBO such as a whole weekend. Then someone can book on AirBnB for just Saturday night effectively loosing me at least a night in most cases. In this market and location the ideal is to book vacation weeks during the summer. So single nights ruins that. What are your thoughts. Is it worth it to do single nights or should I block those out for the summer and just lower my weekly rate? Thanks in advance.

@Scott Matthew C. sorry I am not following your question. I understand you are asking about days on market but that wouldn't really apply to a short term rental. Either way I don't have the data prior to owning.