All Forum Posts by: Adam Cole

Thank you so much ! I will definitely take you up on that offer. This has been a very daunting adventure, but so is working in a corporate environment everyday..... 

We will talk soon :)

Adam
 

 Hi Shardae! Thanks for your kind words :) 

The turnover is completely expected. Since there are actually 2 sections of students (A and B section), most of my students move in and out every 3 months. Thus the reason why we charge per door, as opposed to per household. The second great thing about that is if the house is full, then it rents for close to $2,000. 

As for the furnishing, my father and I have been dominating Facebook Marketplace. The common area comes from there, but the mattresses are purchased brand new. All of the rooms have twin beds, so the mattress prices are very reasonable.

Investment Info:

Large multi-family (5+ units) buy & hold investment in Flint.

Purchase price: $55,000
Cash invested: $5,000

As my first experience in purchasing rental properties, getting this grouping of 4 was quite daunting (see other posts). But through some clever marketing and ensuring that the house itself is always in good repair we have been able to turn our investment into over $7k a month in rental income. Going from $0 to $7,000 per month in less than a year has been a tremendous journey and I can't wait to see how high I can take this.
Next stop...... $10,000 per month!

Investment Info:

Other buy & hold investment in Flint.

Purchase price: $39,000
Cash invested: $2,500

As my first experience in purchasing rental properties, getting this grouping of 3 was quite daunting (see other posts). But through some clever marketing and ensuring that the house itself is always in good repair we have been able to turn our investment into over $7k a month in rental income. Going from $0 to $7,000 per month in less than a year has been a tremendous journey and I can't wait to see how high I can take this.
Next stop...... $10,000 per month!

Investment Info:

Large multi-family (5+ units) buy & hold investment in Flint.

Purchase price: $55,000
Cash invested: $5,000

This biggest home that we currently own. Boasting 7 bedrooms and 3 bathrooms, this home can really produce some significant cashflow. However, the condition of this home compared to our others was definitely a little worse. We have been able to almost fully rent the home and have been working through some HVAC issues, but overall it has been a great experience.

Investment Info:

Other buy & hold investment in Flint.

Purchase price: $39,000
Cash invested: $2,500

Although the margins for rent on this property aren't as high as we'd like them to be, the deal was too good to pass up. We were able to furnish the entire house for less than $1500 and gained a private garage to tend to the other rentals. The plan was to sub-lease the garage space to other tenants, but we have since decided that the use of the garage is to be included when renting the home. This may change in the future, but for the next 12 weeks that is our plan!

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $55,000
Cash invested: $5,000

As with the other investment properties, these homes were sold in a bundle of 3. We took a risk and went all in to get 3 of them and have been working to maintain a steady cashflow. Unexpected expenses have popped up but we believe that, overall, our position is promising for the future. The demand for rental properties in this area will not decrease, and will more than likely continue to grow.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $55,000
Cash invested: $5,000

2026 Monteith Ave is a student rental property located within 0.5 mile of Kettering University. My main focus has been to rent to students and compete with the single apartment complex in the area, Campus Village. By monitoring their pricing, and keeping my rental cost below that, I am able to remain competitive against a larger entity.

Investment Info:

Large multi-family (5+ units) wholesale investment.

Purchase price: $55,000
Cash invested: $55,000

Directly next door to another unit. This 6 bedroom unit offers the same amenities to my tenants. Fully furnished, utilities paid, and single term rent payment of $975 per room.

The main expense we have seen with this home has been the cleanup in the backyard. The previous owner's negligence caused a massive overgrowth and thus damage to the fencing. After spending many hours and quite a bit of money, it is finally cleaned up.

Investment Info:

Other wholesale investment in Flint.

Purchase price: $39,000
Cash invested: $39,000

Student rental property at Kettering University. The great thing about this school is not only that it is growing, but also that it is a year-round school. I have turnover ever 12 weeks, and keep the houses fully furnished to ease the move-in and move-out process.