All Forum Posts by: Brandon Krieg

Hi All,

In a few weeks, I will be moving from the Ann Arbor area to West Michigan, and will be focusing on the areas surrounding Grand Rapids and Kalamazoo. While I have a good base of contacts and quality contractors I know here, I'd love to get some recommendations on quality general contractors on the west side.

So if you have used a good general contractor and would use him/her again, I would appreciate the reference.

If you'd prefer to PM me, that would be great too. Thank you!

Tim G. That's a good clarification Tim, thanks. Different investors definitely have different criteria. I would happily pass along a deal I wasn't interested in if I felt it would work well for someone else.

Perhaps I worded it incorrectly. My point was: never try to pass along a dud deal to someone else. If it's a lousy deal by every metric, don't sully your reputation by trying to convince someone else to buy it.

Rule of thumb:

If it's a good enough deal that you would go out and search for funding to make the deal happen, it's good enough to wholesale. If it's a marginal deal, it probably won't work. Would you buy a marginal deal from someone else? Probably not.

As you go through the process, make note of what your buyers want to know (such as comps, repair quotes, area rent, etc.), and just include those things on the next offering. It's a learning process, but you'll get it.

Also, back and forth just happens sometimes- it's your job to make it an easy, smooth process for both the buyer and seller. If you stay calm and collected, and act quickly and in an organized fashion, you'll find success.

To be fair, I think they've moved most of the web updating to meetup, as it was a more complete solution... it works for me!

Welcome Donovan Haddix! There's a good group of SE Michigan investors here on BP. Definitely set your keyword alerts for Michigan, and introduce yourself to them. Also, there are several REIAs that are quite good around here. Keep at it!

Taylor Jennings, I agree that you shouldn't output that money if there's little/no chance of making a deal. You probably have a good idea bout their level of flexibility. Honestly, if it's been vacant for three years, they may be quite motivated.

However, before even putting out a price, I think you should have a very good idea of your costs. It's hard to reduce your offer once you've already thrown a number out there.

I was able to access the pictures - thanks for the tip. I see why you like it - it's got a lot of potential! Three things jumped out at me as things to check on. First off, there seem to be several horizontal cracks in the basement foundation - definitely get that looked at. Second, I saw a pest control trap. Critters can cause a fair amount of damage you can't see. And third, in the upstairs, it seems there may be water damage in one of the rooms (picture 3644). You may have mold in the surrounding area.

I would definitely take the time to have at least a very good contractor come and do an inspection/repair estimate. It may cost you a couple hundred bucks, but that's much cheaper than getting even one 'surprise' repair in a house. Then, if the cost seems feasible, perhaps have the structural engineer come in.

I don't want to dampen your spirits (I hope I'm not), I just don't want you to fall down a rabbit hole that's best to avoid!

Perhaps you could 'drive for dollars' on your weekends or put out bandit signs. With the signs, you'll probably get most of your calls when they're up - perhaps put them up on Friday afternoon and pick them up again on Sunday night? That would just be the cost of the signs, gas, and time.

Then get to know other investors in your area, and either find a good partner or people to flip deals to. I'm sure there are more options!

I think Brandon Turner has it right. As a quick add-on, make sure there's enough wiggle room to account for vacancies and repairs - 3 families means three bathrooms (at least), kitchens, heating systems, etc., with possibly more frequent turnover. So build a little extra wiggle room in. Good luck!

Hi Samantha M., I think those are the big ones. If you are well versed in all of those strategies, you will be a great asset to your sellers. If none of those work (and a cash purchase doesn't work either), it may be time to walk away.

I'll channel Michael Quarles as well.

It's kind of like asking a girl out on a date. If you don't ask her, you don't get the date. So what's the worst that can happen? It might not (and probably won't) go perfectly, but it's great that you've got 6 potential leads to work with.

Find a couple of scripts as a guideline, and think of it as a conversation rather than as a sales pitch. It'll make your life easier. Good luck, and tell us how they went!