All Forum Posts by: Gary Hall

Same as above

Hey I have a performing portfolio of 53 units that have a retail value of around 2.1-2.5 near Grand Rapids MI. I expect the property values to increase rapidly over the next 5-10 years. 

I am looking to buy out current partners. Looking for 700-900k and willing to give up 50-75% of the deal and structure an 8% preferred distribution. I would prefer a long term buy and hold strategy but If you want to put a 5-10 year sales clause we can.

We are always willing to help people get into and stay in real estate. Find a good partner and I agree MI is a great place we moved here just for the real estate market.

Partnerships take all forms it just depends on what you are looking for. Feel free to PM me we have lots of deals here as well.

Make sure you have a defined result and time frame to achieve it. Spell EVERYTHING out up front. I have outsourced hundreds of positions. If you would like some advice feel free to PM or call.

If you are looking at investing out of your area, more important than the numbers is a good property management. With out a solid HONEST team you will lose money. I have properties with beter ROI then this available. If you are interested shoot me a PM or call.

We use both. The point is to stay away from carpet!

@Bill Hamilton    Nice tirade, only issue is that the OP mentioned that his criteria is 3x rent. Seems like you are the one off base here. Oh and before you try ripping on my local knowledge too, that's Dinosaur Ridge in my profile photo.

 In business you need to be slow to hire and quick to fire. Its the same in real estate. Finding the right tenant is the best insurance you can have. It doesn't really matter what the issue is. If you had to post in BP to see if you should make the exception the answer is NO!

@Seth Wilcock

We are focused on Muskegon but I get down to Holland all the time. You should come visit and Ill show you why you should buy up here.

Right now the major changes we see happening are in Muskegon. As a Grand Rapids suburb its only a bit north of where you are. Not quite your back yard but if you are looking for opportunities in the market we can help. 

We manage mostly long term rentals but we have some vacation rentals right on the lake in Muskegon. We get $2500+ a week for these off of VRBO but these homes sold for 200k+ and are walking distance to the beach. 

We charge 25% on short term rentals. 50/50 sounds crazy to me. 

Do they guarantee rents? What are they doing for that extra 25%?

Are you locked into their services?