All Forum Posts by: Robert Orel

I'm pretty positive FHA does not come after the borrower for the balance owed after a repo even in Michigan. If you have questions about the Lansing area feel free to ask. I have several rentals here and know the market pretty well. Good luck!

Hi Alex. I have several rentals here in the Lansing area as well and seem to have no problems filling vacancies. I do notice my cheaper rentals bring in a lot more applications. Most of the time I hold open houses due to the amount of interest I get from adds on Craigslist. I haven't been to the local Meetup yet but it's on my to do list I'm sure that's a great place for a newer investor to go for great information! If you have any questions feel free to ask! Happy investing!

Another consideration for a heating alternative in the future would be the Ductless heat pump. You can youtube it for an idea of how it works.  My furnace guy recommended it to me on one of my duplexes a couple years ago as it still has a single furnace supplying both units once the furnace dies.

The cost is difficult to answer as my father in law is a licensed electrician so it was very cheap to split electric services. I usually do most of my own work and my electrician and plumber wrap up the rest for me so I can't give you a legitimate cost of hiring the entire job out and it will vary from home to home, some are more difficult to split then others. 

The cash flow on duplexes is definitely better and I do tend to agree with you as far as low appreciation as Lansing is an extremely linear market. Lots of houses are still almost half of what they were at the peak in 2006-2007. 2 reasons I like SFR over duplexes, first is most of my tenant issues I've had over the years has almost always come from my multi-units, the turnover is a lot higher and with end game in mind selling SFR to owner occupants I believe I will get more appreciation then selling my duplexes to another investor also looking for a bargain.

However, if I can find a good deal on another multi family I will still jump at the opportunity as even with the additional headache they cash flow like crazy for me.

Don't be too nervous I do believe Lansing will see slow and steady appreciation again in the future, but your not going to see double digit increases like you see in many other markets.  At least that's what I'm hoping for!

Hello and welcome to BP Adam

I grew up in DeWitt in a home with radiant ceiling heat that was built about 1972 and according to my mother it's still working fine to this day so the system can last quite a while. The heat does cost a little more currently then gas so that may impact the rent you can charge and ultimately your bottom line. ( just keep reminding your potential tenants of how it's a lot better for people with allergies lol) It is pretty unusual for homes in the Lansing area to have the ceiling radiant heat. Personally I wouldn't let it deter me from buying the property but I would get what I can checked out by a home inspector. The problem is if you convert to a gas furnace system you will have to run all new ductwork which could be pricey but that could also be a long time from now depending on the age of your current system. I would just keep it in mind as your negotiating on price and maybe even get an estimate or 2 from heating contractors for running ductwork during your inspection phase to get an idea of what you may be dealing with down the road.

Good luck with your first purchase!

Welcome to BP! Lots of great resources here. You will find a lot of duplexes in the Lansing area do have separate utilities. I've even converted a couple as I really like the idea of the tenants being responsible for their own bills. Lansing still has a lot of good deals to be had, easy to accomplish the 2% rule or more on duplexes however I've been leaning towards single family here lately

Hello Tiffany Sadly I'm pretty sure you have to do it all over again. This is why I usually try to go to court right after the 1st of the month so I can add that to the total. You may want to double check this but this is my experience with Lansing courts. If you have a problem tenant already you may want to do the 30 day notice instead of the 7 day and just get rid of them if your month to month. Congrats on the new duplex by the way! Good luck!

Welcome To BP Kayln. I also do a little flipping here in the Lansing area. Primary focus is buy and hold however. I too was a realtor in the area but now just focus on my own buying and selling. If you have any questions feel free to contact me!

Joshua Kapp yea I've heard about it and have been unable to attend as I work 2nd shift but as soon as I get that changed, you will see me there! Thanks for helping out with the info!

Welcome to BP Charles. I believe there's a local meetup group here in the area. Might be a great resource for you to get started. I've also been in the game for a while now if you have any questions feel free to ask!