All Forum Posts by: Matthew Teitsma

@Erica Pelfrey

Thank you Erica! It’s a pleasure to virtually meet you here. Cold water is a beautiful area!

@Gregory Hill

Thanks Gregory. The biggest thing is the size of two of the upstairs bedrooms. They are massive. Our initial projection was $1,600 in rent but those two rooms are so large that we decided to try upping the rent before showings. A family found that having their kids share these large rooms would be beneficial, thankfully for us and them.

@Lisa Gould

Thank you Lisa! We were looking and now still look daily at the market. When this became available we moved quickly. We hope to eventually find these deals and more with properties that don’t hit the market. Still working to get there.

@Roberto Filice

Thanks Roberto! We have used Mary Dykstra of Keller Williams. As of right now, our goal is to get into more property management. We have been taking care of this property and a few other rental properties. Hope this helps!

@Ola Dantis

Thank you Ola! If I get sick of this cold weather in the MI winters I may need to come visit your Houston heat.

@Cheryl Moore

Thank you Cheryl! A pleasure to meet you here virtually!

@Anthony West

Thanks Anthony! I hope our paths cross one day, maybe when life returns to a bit of normal?

@Josh Bloomquist

Thanks Josh! We are currently collecting $2,000 rent plus an additional $50 for pet fees ($25/per for a cat and lizard). The property is located in the southwest part of Kalamazoo, still learning more about the area as I live in Grand Rapids.

@Joseph Schweizer

Thanks Joseph! I’m thrilled to be soaking up all the knowledge I can get here on BP!!

Investment Info:

Single-family residence buy & hold investment in Kalamazoo.

Purchase price: $93,500
Cash invested: $11,000

My first investment property! A 4 BR, single family home.

What made you interested in investing in this type of deal?

Looking to build income/wealth and knew I needed to start somewhere. Invested with two partners and we are always searching for more. The property was turnkey and in our price range, which made it a perfect opportunity for the three of us.

How did you find this deal and how did you negotiate it?

This property was found by one of my partners, we negotiated that the seller cover all closing costs.

How did you finance this deal?

Standard 30 Year Mortgage.