New Investors in the mitten - Grand Rapids, MI area.

New Investors in the mitten - Grand Rapids, MI area.

Investor · Hudsonville, MI · Member since 2016 · 5 posts · 2 votes

HELLO BP!

My wife and I are new to the Bigger Pockets forum but have enjoyed listening to the podcasts for a few months now. We are currently working on our 3rd fixer upper. We have put a lot of sweat equity into each home we've purchased, which has given us the opportunity to use a HELOC as a strategy to grow our business. Our current project is remodeling a 3 bedroom 1 bath home that we are hoping to complete and rent out before the snow flies. Our strategy is to buy and hold with a goal of purchasing about 2 - 4 units a year in the Hudsonville, Grandville, Jenison, and Allendale areas. Our main focus is single family homes, but we are also interested in multifamily properties. We are blessed to be in the position we are in, and we are now looking to push forward and grow our business. One of our goals is for me to be able to work full time in real estate within 10 years while my wife continues to work in the profession she loves. Our end goal is to have income that will allow us to provide for and spend time with our children and grandchildren in the future while enjoying financial freedom. Currently we are looking for a real estate attorney lawyer in the area to join our team and help with paper work if anyone has suggestions. As our business grows and we add new members to our team, we will eventually want to hire a property manager or hire a property management company to manage our properties in the area. I know this could be difficult to find, but I believe West Michigan might be the place to find a real estate management company that does what they say and has integrity. So if anyone has any suggestions, I don't think it's ever too early to start the search. Thank you in advance to everyone that is contributing to the BP community as we continue to grow together in knowledge.

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  • Paul LeasonPro Member
    Realtor · Grand Rapids, MI · Member since 2012 · 172 posts · 70 votes
    9y

    I would advise that you speak with @Wes and Tina Emert of CityWide Real Estate. Listen to their podcast on the RPOA Podcast. I think their episode was #22

  • Investor · Hudsonville, MI · Member since 2016 · 5 posts · 2 votes
    9y

    Hey Thanks Paul I will have to check them out.  They even have "integrity" written in their mission statement.  Do you have any recommendations on a real estate attorney in the area?

  • Rental Property Investor · Grand Rapids, MI · Member since 2016 · 262 posts · 205 votes
    9y
    Hi and welcome to BP! I had a great experience working with attorney Ron Foster out of Jenison. He set up my LLC for me. You can also check with the RPOA here in Grand Rapids. Good luck!
  • Paul LeasonPro Member
    Realtor · Grand Rapids, MI · Member since 2012 · 172 posts · 70 votes
    9y

    I have used David Hill of Kreis Enderle. 

    dhill "at" kreisenderle "dot" com

  • Vendor · Kalamazoo, MI · Member since 2016 · 93 posts · 56 votes
    9y

    @David Bringer I manage properties in Grand Rapids and our office is located in Allendale.  I'd be happy to discuss options with you!  PM me if you would like to meet up next week!

  • Investor · Tampa, FL · Member since 2015 · 175 posts · 75 votes
    9y

    Hi @David Bringer,

    For an attorney I recommend David Soble, he is a member here on BP and he specializes in working with Michigan investors and he has done great work for us.

  • Investor · Hudsonville, MI · Member since 2016 · 5 posts · 2 votes
    9y

    Thanks for all the quick responses! I will look into the suggestions and start calling attorneys on Monday.

  • Real Estate Professional · Rockford, MI · Member since 2015 · 301 posts · 138 votes
    9y

    @David Bringer  It sounds like things are rolling nicely for you.  Congratulations on all your success.   When looking for a property management company I would start by Googling "Property Management Grand Rapids."   By identifying the top 3 or 4 this will give you a good starting point.  You will notice that the management company mentioned above is nowhere to be found.  This is the same search tenants will do when looking for a house.  You want as much traffic to your properties as possible which ultimately will cause your property to rent quickly and for the highest possible amount.  

  • Grand Rapids, MI · Member since 2011 · 14 posts · 4 votes
    9y

    Hi David, 

     The Hudsonville, Grandville, Jenison and Allendale markets each represent good long and short term opportunities, we'd be happy to send you a detailed rent analysis for each market which will help you validate and project rents in your current portfolio as well as those units you have coming on line. It would be great to make your acquaintance, please contact me at your earliest convenience. 

  • Investor · Hudsonville, MI · Member since 2016 · 5 posts · 2 votes
    9y

    I truly appreciate everyone's input.  At this point we have decided that we are not quite big enough to justify a property management company.  Although if anyone knows a good handyman they use, or if you have specific people for HVAC, plumbing, Electrical in the Hudsonivlle, Grandville, Jenison, area please let me know.  Just had an issue with water leaking into basement and ruining some tenants belongings.  My wife and I are realizing once we start having a family there is no way that we will be able to do all of the work ourselves.  If anyone is an investor in the area , I would love to connect and ask a couple questions.  We are trying to get ahead of being overwhelmed and set up a good team so that we continue to our goal, which is to own about 20 single family homes.   I consider myself a very handy person and have fixed all the things that have come up in our rental as of now.  I am afraid of becoming so busy fixing things that I don't have time to grow my business. Thank you in advance for your input.

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