All Forum Posts by: Caleb Reits

Good luck on your STR endeavors Paul! My name is Caleb and I wanted to let you know I am selling a portfolio of properties in the Benton Harbor MI area, let me know if you still invest in the area.

Hey guys I have quite a few properties in the Benton Harbor area that I am selling, willing to do land contract or quick cash sale, please message me if interested or if you just want to connect. : ) 

Hey Christen, my name is Caleb I Wholesale in my local market MI and JV in a few virtual markets, would love to connect with you! I know a few people who wholesale in ATL and would be happy to connect you with them.

Super helpful information Mitch, Thank you so much! 

1. I have gathered most of the leases. (Some are lease options...) Not excited about that. 

2. I am in the process of getting all the specs of each house, with the maintenance that has been done to it over the years. (Missing a lot of recent and records)  

3. How would I go about creating a P/L for something like this? It is kind of a mixed back a few duplex's and a few single family's and one four unit. 

Maybe connecting with Commercial Leners could be a good way to find potential buyers???

Hello Bigger Pockets Wizards!

My name is Caleb, I am looking for more experienced investors and agents who have sold packages for investor clients before, on and off-Market.

I've got a bundle of 10+ properties, sprinkled across Benton Harbor and Muskegon, MI. This mix includes duplexes and single-family homes. It's like a box of chocolates; some are sweet (tenants paying rent), and some are... let's say, an acquired taste (a few non-payers).

Now, here's where I need help or wisdom.

What makes a property package attractive to investors? Is it all about the price tag, or is it the thrill of having multiple doors I'm trying to understand to plan out the marketing and potential questions and issues that will come up. 

How do I spread the word without becoming that annoying radio jingle that gets stuck in your head? Blast it everywhere for speed or leak it out slowly. Also, it may take a specific type of investor for this as some of the properties are section 8 and not in the best area. 

I’m all ears (and eyes) for advice on:

1. The key factors that make a property package a deal.
2. Savvy marketing strategies.
3. Potential problems that could come up.

All in the spirit of learning and growing together.

Thanks a million, in advance

~ Caleb

Hello BiggerPockets Community,

I hope this message finds everyone thriving in their real estate endeavors!

My name is Ryann, and I'm actively engaged in the vibrant market of West Michigan, dealing mainly with off-market properties.

I'm on the lookout for a brokerage that is well-versed in the off market, “investor special” properties. I am interested in joining a brokerage that is a member of either WMLAR (West Michigan Lakeshore Association of Realtors), WCAR (West Central Association of Realtors), or the Southwestern Michigan Association of Realtors.

My goal is to partner with a broker that supports and complements my specialization in off-market transactions. A broker who understands the intricacies and potential of these deals would be an ideal match.

If you know a team like this or if you are this kind of team, please tell me! If you are a broker who is excited about the possibilities of investment properties, I would love to have a conversation.

PLEASE SHOOT ME A MESSAGE :) 

Thank you all in advance for any helpful advice!

#INeedABroker #WMLAR #WCAR #SMAR #realestateagent #grandrapids #kentcounty #michigan #westmichigan #Broker #Agent #offmarketproperties #offmarket #Muskegon #DistressedRealEstate #Lakeshore #SouthWestMichigan

Connor Anderson and Daryl Matthews are both great agents to talk with! I just texted you Kaite, congrats on all your progress! 

Hey all my name is Caleb, I am a local investor and wholesaler who is trying to make it into my dream condo which is downtown Grand Rapids MI in a place called River House, some call it Varnum because that is the building next to it. I have saved up 100k, but am a 1099 wholesaler who's income comes up and down. I wanted to get some feedback on how hard it would be to get qualified for something around 400k - 450k with a good credit score and using my first time home loan. 

Also the HOA fees are $500 a month is it worth it?

Check out these before and after pics!

Investment Info:

Single-family residence wholesale investment.

Purchase price: $80,000
Sale price: $100,000

Single family home right in Kellogsville School District. It needed a lot of work but the flippers who bought the house from us brought it back to life! Check out these before and after photos!

What made you interested in investing in this type of deal?

This home was an inherited property that was NOT taken care of and the sellers needed to sell to provide a better life for their kids. Our main goal is to provide helpful solutions for people to leave a situation and start fresh!

How did you find this deal and how did you negotiate it?

We found this by cold calling! Cold calling is brutal but it still works. :) Because this home was inherited, it was a touchy situation. We brought the owner a condolence card and did what we could to make their situation better.

How did you finance this deal?

0 funds! That's why we love to wholesale! The end buyer brings the money and earnest money to title.

What was the outcome?

We had a few walk throughs because this is in a desirable area and took a highest and best after 24 hours. We have A buyers that we work with that were all interested and to give everyone a fair shot we had the showings at the same time without letting anyone else see the home. They had first pick and were able to put in the offer that made sense to them. Because we had more than one party interested and without EMD down, they were all given a chance to make the offer!

Lessons learned? Challenges?

GIVE MORE THAN YOU TAKE! The people who are selling for cash and quick close are usually going through something in their life. We offered to get groceries for their young kids as it didn't look like there was much edible food in the home. We lead with giving before asking for the sale.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on this one. We did negotiate with the end buyer to let us list it on the back end. Wholesalers - if the leads you have aren't looking for a cash offer, reach out to an agent and give them a referral to list it! We love when we get referrals, it's the best compliment and usually with a referral you will be paid EVEN if you didn't wholesale the deal. Just another way to make money on some of those "dead leads".