All Forum Posts by: Christian Hall

Hi Travis! Welcome (back) home! They say that you are the average of the five people you spend the most time with. My best advice is to surround yourself with others who will "bring up your average." These don't always have to be investors. They could be other professionals inside or outside the industry like realtors, CPAs, attorneys, or lenders (like me!). 

Having a peer group of experienced industry professionals who care about your success and whose success you care about can explode your growth. Do all you can to provide up-front value to anyone who you'd like to connect with. This can be as simple as striking up a conversation via phone, email, Zoom, etc. 

Best of luck to you! Please feel free to reach out if you have any questions, especially lender-related. Happy investing!

Hi BP! I’ve read the books, listened to the podcasts, analyzed deals, and lined up financing. I’m now looking to perform my first flip.

I’m looking for help with two things:

1. Wholesalers who may have a deal near Farmington Hills, MI or within 10-15 minutes of I-696.

2. General advice for a first time flipper. I've heard a lot about the importance of increasing your budget, determining a realistic ARV, and more. What else can experienced flippers share?

Anything helps. Thanks!

@Dave Poeppelmeier Thanks so much for sharing. I read these at work every day. Super motivating. Congrats to you guys!!

Hi @Account Closed thanks for reaching out. There aren’t many “up and coming” areas in south Warren. In my experience, the closer you are to 8 Mile and Van Dyke Ave, the rougher the area becomes. 

I focus on Southwest Warren because the homes and yards are kept in better condition which typically has a direct relationship with how to residents keep the insides of their homes, their credit, their saving, on time payments, etc. Also, that area is closer to Hazel Park & Ferndale which is a great marketing feature.

The city put a civic center near 9 Mile and Van Dyke that has a library, police station and more to help improve that area. But it’s still hit or miss over there.

I hope this helps!

Hahaha you guys are cracking me up! I really appreciate the advice. I'll keep you posted. Thanks again!

@Greg Scott @Nik Corbaxhi Thanks so much for advice, guys. Very appreciated. I'll let you know if I have more questions!

Hi BP,

I've had a tenant for about six months who has typically paid on time. However, she has run into some hard times and is now behind on rent by $1,890. ($840 remaining for Dec 2019 + $1,050 owed for Jan 2020 = $1,890 total owed as of this posting date 1/3/20).

My lease uses a progressive late payment system. Rent is due on the 1st. Grace period on the 2nd. $50 on the third. +$5 per additional late day.

She has promised to pay several times in the past five weeks but has only paid $350. I have not posted a 7-day court notice or eviction notice. I'd like to avoid an eviction for both my sake and hers. She has promised to pay by the 14th and says she by then she will be caught up to pay February rent on time. However, she is willing to peacefully move out if that's what I decide needs to happen.

My other properties always pay on time and I've never been here before. Should I wait until the 14th? Or request that she move out within 30 days? Lastly, should I keep her security deposit? Or offer a "cash for keys" situation where I tell her "I'll give you x amount in cash if you can give me keys by the end of the week."

Any advice is appreciated. Thank you!

Thanks so much @Charles Kao @Dustin Griesing and @Shawn Daniel. I really appreciate the advice. It sounds doable, I just need to study/learn the market. Shawn, you mentioned avoiding lower end houses. I assume that can be identified/reflected in the purchase price. Are there any geographic areas to pursue/avoid (like "east/west of the river" or "south of 22nd", etc.). Are those A & B class areas defined at all? Thanks.

@Charles Kao oof. I see some properties that seems too good to be true. The cashflow is there but it sounds like the appreciation isn’t. Thanks for the advice!

I’m considering investing in Bay City, Michigan. Are there any experienced investors or residents who know the town well? I’m trying to gather info on what areas to pursue/avoid.

I’ve found tons of info online about Saginaw and Midland, but I can’t find much on Bay City. Can anyone give me a rundown of the town? Thanks!