All Forum Posts by: Nathan Kirgis

@Ethan Evans far from an expert but happy to help!!

@Ethan Evans  here is the link!! You’ll need your SEV. 

https://treas-secure.state.mi....

@Jonathan Chan I would agree with @Tim Herman, it seems like your expenses are a little underestimated. If your rehab budget includes updating al l of your major “systems”, you may be able to budget a little less for capex/repairs. I am in MI and we have a property tax estimator tool that I use to get a really clear picture on what my taxes will be, especially if it will be a property going from 100% homestead to 0% homestead. Another thing to consider with taxes is the last time the SEV updated. This bit me hard on one of my first properties when the pervious investor purchased the property at rock bottom after the crash. When the property transferred it uncapped the taxes and they increased substantially and ate up all of the cash flow. 

Some additional details about the house would be useful as well: how old is it? What repairs do you plan to do? SFH or multi? As I rule of thumb I always estimate conservatively and plan to be able to handle contingencies. I just had a $400 water bill at an Airbnb property because of a running toilet. Plan for the worst, hope for the best.

@Durrel Douglas I have an AirBNB in the Lansing area, but I am in the SE Michigan AirBNB Facebook group. Lost of great info on there. Good community to be apart of!

@Michael Ulrich they are on Facebook as “Lansing Real Estate Investors”.  The Next meetup is 6pm on Sept 29th at the Eagle Monk Brewery.

@Landon Allen I will be there on the 29th!

My name is Nathan Kirgis. I go by Nate. 28 years old. I live in the greater Lansing area in Michigan. I am engaged to my wonderful fiancé Kylie. We are getting married in Oct. We both work a 9-5 and plan to do so for the foreseeable future.  

I guess I have technically been investing in real estate since 2016. I bought a duplex and lived in half and have done so till the present(I didn't even know what house hacking was then). Since then, I have purchased two SFH with a partner which we are currently in the process of selling. Due to some life changes we decided to liquidate and go our separate ways ( all on good terms). We have quite a bit of equity in these two homes and I intend to reinvest the proceeds into more properties. My fiancé and I bought our first investment property together this past July (2020). I'm not sure it's anywhere close to a grand slam, or even a double, but I think it's at least a base hit. We will be looking to continue to invest in SFH and small multi-families. We had originally set a goal of 1 property every 2 years. As I continue to educate myself and ramp up my desire to invest in real estate I think that goal with change drastically. I look forward to interacting with individuals on this forum and hope to someday work with some of you.