All Forum Posts by: Chad Rider

William,

Welcome. This is a great community and you'll learn a lot here. I'm just down the road from you. Ypsilanti seems to be a place where you can find deals. I like your plan of buy/rehab/hold and flipping to supplement. I'm progressing down a similar path. 

Good luck and let me know if I can help you with anything!

Chad

Welcome Mark. I'm in the same boat as you. Brand new to investing in Michigan and trying to learn all I can. This is a great resource. Be sure to check out some of the guides and podcasts here on BP. Great information there.

Incidentally, I also work for an airline, although not a pilot.

Don't hesitate to reach out if I can help with anything. I probably don't know a whole lot more than you right now but I'm happy to share/help where I can.

Welcome Benjamin! You've found a great community for learning and networking. I hope to see you around.

Jay - I am interested in how you set up these builder partnerships as I have had offers from builders for the same. As the capital partner I'm sure you bring 100% of the funds to purchase the property, including all associated transaction costs. Do you also pay the builder for his rehab work when the work is performed or does the builder do the work and rather than get paid for the work he takes a % of the profits (which should cover the rehab costs + some.) Thanks!

Congrats George. You're certainly not afraid of a challenge. Would also love to see some "after" pics.

 Yes This. 

Also, for a little extra, DTE has a appliance coverage package. I enroll all the appliances that I provide in the program and make sure the tenants have the toll free number to call in any issues. They are fairly responsive and it is a big hassle off of my plate.

Best of luck! I've come across many out-of-state investors buying properties here in Mich. I've been successful at managing my own rentals over the past 20 years and have thought about starting a PM company myself. However, I do not have a real estate brokers license and I understand that is a requirement.

I manage my own properties. 

I've never used them before but the Google reviews on them are dismal.

I've never used them before but the Google reviews on them are dismal.