All Forum Posts by: Adam Wallen

@Michael Copeland welcome and good luck! I’m in a similar position, also in the GR are. Sent you a connection request.

Thanks so much for posting this @Brett Lambert! I'm a new investor in the Grand Rapids area, looking to focus on small multi-family buy and holds as well. Your post gave even more motivation to get started in real estate investing. Maybe we can connect sometime to discuss strategy. Best of luck in the future! - Adam

@Courtney Rollins Great questions... I was wondering the same as I'm beginning my REI career this year. Planning to start my direct mail marketing campaign soon and hopefully get a multifamily unit under contract in the next 6 months. Best of luck to you!

@Joe Villeneuve very well said! Thank you.

Hi all! I noticed there haven't been many replies to this thread for quite some time, but figured I'd reply anyway. I'm a new investor in the Grand Rapids area, looking to purchase my first investment property in the very near future. I'm currently planning towards investing in a multiplex 2 to 4 unit property. Would love to meet with others in the area! I know there are some other meetup groups already established, but I would also be interested in potentially starting up a new group if there is enough interest. 

- Adam

Hi all! I agree this is a great thread thus far. I'm a new investor living in the Grand Rapids area. I'm looking to purchase my first multifamily rental by the end of 2019. I'd love to connect with any other investors in the area. 

- Adam

Completely agree with you here @Robert Leonard!

@Robert Leonard Solid points!! I very much appreciate your input. I'm getting my finances in order while analyzing as many properties as I can. Looking to make sure that my first investment property is a GREAT deal, not just a good one. I will keep your thoughts in mind as I continue searching!

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Thanks for the reply @Robert Leonard! You're probably right on the both parts. For vacancy, the rate is VERY low in my area, but it never hurts to protect for a few addtl percentage points. I bumped vacancy to 8% and also bumped repairs/CapEx to 17% total. This would still give me a $277 cash flow and ~13% CoC return, if I paid the list price.