All Forum Posts by: Brian Arcangeli

Thank you so much Jon & Diego! You are right, I'm over pricing it at $1900/mo. the market is calling for 1700-1800. I'll lower the price and keep all my qualifications the same. 

The 70-80% fail rate is discouraging, but I've seen that on other posts as well, so I won't let that scare me.

Hi,

I recently purchased a 3 bedroom 1 bath on the north east side of Grand Rapids, MI. Although my rental listings has been live for over a week, I have had very few leads from them. How long do rentals usually stay on market in Grand Rapids? How many leads should I expect?

I had a property manager look at my property and she said the third, smaller bedroom, makes it harder to rent. I've also had one potential tenant tell me that "an income requirement of 3x the monthly rent basically disqualifies single-income families". Any insight is welcome, thanks!

I just moved so that I could convert my primary residence into a rental. I suggest the following.

1.) If you want duplexes, start looking because multi families are harder to find

2.) Generally stay away from 3 bedrooms unless they have equal size. I am learning the hard way that 2 bedrooms appeal to single parent families and students, 4 bedrooms appeal to dual income, or students. The 3-bedroom satisfies neither.

I recommend the SFH route, it cash flows just a little nicer. Also, keep in mind you will want to refinance before moving out.

Had the same issue, sorry but I have no solution.

I opened two tickets with them but there's no ticket tracking, and no response whatsoever that they even received the ticket. You can call (they will never pick up. ever.) You can leave a voicemail though

Their phone number is 
877-313-8601

I will post again if I have a solution

Tenzin, if you're still interested in commercial real estate, we should talk! I'm in Michigan but have been looking at other properties as well. 

Also, about Peter, you can learn most of his knowledge from his book 'Commercial Real Estate for Dummies' which is part of the 'dummies' series. Also, BP has (2) books about multifamily.