All Forum Posts by: Dante Pirouz

@Kayla Utley Thanks for the kind words…but I won’t feel like I’m winning until I drop my job once and for all (you can tell I don’t love my job, right?)…I’m very, very close though! I started with BP 5 years ago with just $60K from an inheritance from my wonderful mom and thanks for @Brandon Turner and his BRRR and rah rah attitude I turned that into $3M in real estate assets, for the most part in Michigan. I haven't had much help (my husband is a RE investing doubter), my kids run away from me when I ask them to help reno a property and everything else on my plate. Right now I have just refi'd and sold some properties which gives me the cash to reinvest in a large 35+ unit multi so I know you are in a good spot having the cash available to take the plunge…don't hesitate because I really think the rental market is becoming very strong and it has been the smartest thing I have ever done even with all of the hard work and crazy moments (raw sewage under the house for example :). If you think that you might be interested in partnering on a large multi deal I'm happy to talk details with you to see if it is something that could work for you rather than going it alone. Just let me know!! All the best!

@Kayla Utley I would definitely recommend that you get started in RE by using that money to buy your first few units. I have an incredibly stressful job as a professor, commute 2 hours per day, homeschool my 9th grader (she’s pretty self-sufficient) and own and self-manage 13 units and about to grow to 50 units…and quit my day job finally…yes it is hard work (and my husband is definitely neglected but he has a $3M net worth now so…) you can do it!! 

Thanks @michaelhelfant 

Hi All: I am looking for a new insurance broker for my 13 rental units in Michigan. I currently have coverage through Auto-Owners but the independent broker prefers to talk to my husband (who is not involved in the business) instead of me (I guess because I'm a woman???) and I need to find a better broker. Any recommendations???

I'm an investor who owns 14 units in Michigan and I'm trying to find a good Michigan (and/or lends in Michigan) commercial lender that other BPers have worked with and liked! Any suggestions??

We have been allowing for pets for several years. It gives our listings an advantage over other rentals in the area that usually don't allow pets. We don't have any restrictions on type or breed but I've learned over the years that if a pet owner can't afford the pet fees or complains about it they aren't really taking care of their pets well or paying their bills. We charge $300 per pet as a non-refundable pet fee at lease signing and $15 per pet per month as a pet rent. We also send out letters periodically when the owners aren't picking up their poop in the yard that they have 30 days to do the cleanup (or hire a pet clean up vendor that we recommend) or we will bill them for the cost and it is a violation when it comes time for lease renewal. 

Hi Kenya: I live in Michigan and invest in St. Clair County which is north of Detroit. There is definitely a slow steady increase in values in Detroit but keep in mind the Eastside can be very depressed in value so you have to do your evaluation street by street. One side could be up and coming and the other side could be very rough. It just depends. You should be able to type in the address into Zillow and Google Maps and get a birds eye view of the area. Keep in mind that Detroit metro tends to be expensive in terms of property tax and building and permits can sometimes get bogged down. Otherwise you might be able to justify building an SFR or two or a small multi on the empty lots. But getting trades people is next to impossible if you are going to renovate or build because there are too few vendors available and they are all booked months in advance. If you aren't able to take a look in person then I would say sell before you invest more money in it because it will be almost impossible to manage everything remotely. Hope that helps!

@Scott M. Residential multiunit. It is in a rural area outside of a Port Huron which is medium sized city by Michigan standards with auto industry and healthcare along with agriculture as the main economic drivers. 

Hi BP Family: I need ideas on what to do with the 3 acres surrounding 6 unit condo complex (I own and run the condo association and all the units are rentals right now) to try to increase the income/cash flow...any ideas on how to turn on the jets on this property??? 

@Philip L. I highly recommend John Coury. We've used him for RE legal issues and family will matters and he has a very good reputation.