All Forum Posts by: Jacques Cyr

@David Lehane

Welcome to the states!!! Most of my Ausie friends are solid folks. (That's most, not all... ha...) 

I'm based up in GR (Grand Rapids); however, cover the Kalamazoo area as well. (have a few properties that we're about to start rehabs on in the area.. should have a few more soon).

As for banks, our local Credit Unions are usually a bit more Rental / Real Estate friendly. Have a few contacts i can pass your way, but for now: Lake Michigan CU  is a solid option. Also in your area: Consumers CU. 

Hope this helps get you started.

Jacques. 

Welcome to BP!... mentioned several times above, but really is a great resource. I'm focus in GR and K-zoo area, as part of Homevestors. Happy to answer any questions regarding these areas. 

@Paul Leason. Thanks... appreciate the constructive feedback. Working on scheduling time at subject property to verify. 

@Manolo D. Appreciate your response. I am aware of the need to clarify the 40 vs 400 sq ft. My initial question was simply about 'average' costing for mudjacking for budgeting purposes. If you can help, that'd be great. If not, no worries. 

Have a off-market lead for home near Grand Rapids, MI. Sounds like the seller has issues with a breezeway between house and garage. The Slab for the breezeway is in "bad shape"; however, they got a quote for $25,000. I'm trying to get a better understanding of what's involved with the $25K estimate, but that seems "Very high" for a 40 sq ft slab. (Assuming 4' x 10') (Though seller said, "400 Sq ft. Not sure how that can be, having view a general front elevation photo - not specific). 

Thoughts on general budgeting cost for mudjacking? Essentially, I'm trying to get rough estimate if "worth pursuing" as they owe a good amount on current loan, etc... 

Thanks...
Jacques

Wondering if anyone on BP has solid contractor(s) in the South Haven, MI area that you'd be comfortable recommending. 

Thanks... 

Jacques

@Brett Fitzgerald, not having seen the "specifics" for your calculations, seems you might be over conservative on some of your Cap Ex, vacancy, maintenance fees. From what it looks like you've go a hefty rehab budget... Most items will be new-ish at this point. Just a thought. 

@Josh Bloomquist thanks for the response. Wasn't getting notifications that anyone had responded, and hadn't been on BP for a few days. with that... the house is just north of K-zoo, and east of 131. Nice neighborhood. Cooper township (from memory...)

Looking for a little Kalamazoo, MI advice. 

Have a solid 4 bed / 2 full bath home under contract. Was going to put this home into a rent-to-own; however, not the right fit. That said, we're getting close to finalizing the title closure. From there, the plan is now to finish acquisition closing, invest about $10K in rehab budget, and put it back on the market for retail. This home is ARV north of $225K; however, though I have access to an MLS analysis service, and having recently moved back to MI (from Chicago), I'm a bit concerned that the number and holding time might be too tight.

Have any good "investment" assertive realtor(s) in the area that you recommend? 

Thanks... 

@Sean Sloop... couldn't agree with @Tim VandenToorn more... He knows the market, and is a great resource. I've recently moved to GR, and starting to get homes under contract, and moving forward. (Also working on options down in Kalamazoo as well. Back to one of your original questions: Partnering can be a challenge, but rewarding. The biggest "rub" for me is the initial split. I'm a greedy Bast@ard - ha... and being relatively new to the game, I'm still of the mind-set that "I want it all". Ha... though that's changing. Just got off the phone with some investors out of Denver / Boulder, and we're working on the details to form a remote partnership. Don't get me wrong, I've known these guys for several years, and both are reasonable individuals. We just want to make sure we have all the major details sorted out... with protections for all along the way. 

What's up with the Twin Cities, from what I've heard seems to be a solid market? Why the gap? (Not sure what your target range is, though I'm betting we have the same challenges here in GR - basically, that 'mental  chasm' that we have to cross when investing of "would I live here....?" (But the reality is there's usually a market). 

Good luck, and DON'T give up. "Get up" and do it. :) 

Cheers,

JC

I'm getting several direct seller leads per month, and would REALLY like to network with like minded individuals who have solid local knowledge / experience in: Kalamazoo, Portage, Battle Creek, Three Rivers, etc... 

I live up in Grand Rapids (recently returning to MI from Chicago) and find myself not being decisive when it comes to leads in the general Kalamazoo area. Don't get me wrong, I believe there's a ton of potential in the area, but haven't been able to "drive the neighborhoods" and get that "feel" for each area. (Still have a "day job" that also keeps me busy...) 

We can work out the details, once we better understand each other's goals, but for now... I'd appreciate feedback / suggestions from the local BP network on who to work with (or not... :) ) in the area. 

Shoot me back a response, and/or connection request, and we can go from there. 

Have a great rest of your weekend. 

Best,

Jacques