All Forum Posts by: Drew Brown

@Nick Paynter the Lansing market is still affordable and provides good returns. We would be happy to discuss what the area has to offer investors.

@Philip L. like everyone is saying there are multiple variables. Do you research get quotes from dependent agents and independent agents. I like independent agents as they usually have multiple companies to try your risk with and get a better rate with specialized carriers potentially. Depending where your at I like Chaz Carrillo at David Chapman in Lansing.

@Matthew Orton if the same units are still creating problems after receiving and paying the fines the fines have not generated enough pain to stop the issue. I would suggest bumping the fee $10 and test that fine structure out. If the same units are still being fined and paying then bump the fine yet again. You need to find a price point at which the pain is significant enough that a warning is enough. How quickly you can do this will depend on how your leases are written. Contact your management professionals and they should be able to assist.

@Zack Takacs there are meetups in About every medium sized city in Michigan. Depending on where your located depends on where to go. There are free groups and groups that are membership type groups. Let us know where your located and we can help you pin point what is available in your area.

@Nick Ottenbacher depending on which community banks or credit unions are available in your region of Michigan this may not be to bad of a property. I would start with all the community or regional banks along with all credit unions. Some great small credit unions in Mid or the Capital Region of Michigan that may be willing to help out. I like Portland Credit Union out of Portland, MI, or talk to Dart Bank or possibly MSUFCU. Let us know how things progress!

@Jason Wiser the question shouldn’t what kind of lease but what should the lease have in it. Our leases as a management contract try to hit just about all the items that could go wrong. As things come up in the future it is always a good think to modify and add rules to your lease. This makes it just as good as a month to month lease. Allowing you to evict if rules are not followed or abided by. 

The other item that comes to mind is the tenant search. Finding and screening the best quality tenants will alleviate a lot of these concerns about the lease. That is your #1 concern as a good tenant will make things easier and a bad tenant will ruin the whole experience. If you have any questions let me know I am more than happy to chat.

@Brian Weaver seeing the word cash flow on here a lot after talking about a cash out refi or HELOC on your rental property. If you pulled equity or actually took a loan against this rental, would your rent cover the cost of the loan? If the rent does cover the cost of the loan and the other variable costs of operating your rental this might be the win win for your current situation. Keep the rental you currently have, don't get hammered by taxes, but also have cash to invest into another property.
Brian I hope this helps. If you have any questions about this let me know. Best of luck on your next endeavor!

@Andrew DeBlock I would be happy to assist with any Lansing, East Lansing or surrounding areas property management needs. I not only manage property but also own investment properties as well. Hope to chat soon.

Check out Chaz Carrillo at David Chapman agency in Lansing. He is a great guy to work with. Also being an independent agent will allow his to get the best policy available for your specific situation.

@Anthony Buccanero have you considered the Lansing Market?