All Forum Posts by: Jake Kozul

I like the creativity. I do work with a non profit that does workforce development in a variety of ways...however they I have only used them on some buy and hold properties I hold. We are looking to improve that enterprise with repurposed materials, workforce training, property management to attract activity and investment to Southwest Michigan...using that resource to flip homes isn't that far fetched once we get the process down.

Has anyone actually bought or sold on an Auction Site such as Hudson and Marshall or Bidergy? Was curious as to the experience and any particulars that would be helpful?

Thanks,

Jake

I actually could build up to have enough work to keep them busy full time shortly. I like the concept of a full time supervisor to hire qualified subs. Thanks for the idea. 

Any suggestions on how to assemble a team of contractors to help me flip homes? I am in a market where the labor in that field is short...i have considered going a la carte with different contractors, talking to builders that are slow, the homeless (just kidding).... I do have my maintenance and remodel company that I use on my buy and hold properties, but they can't handle any more volume. Any suggestions would be helpful.

Thanks,

Jake

I am looking for a good regional or small bank or credit union that offers good terms and products for investors in Michigan. I have a good amount of collateral, experiance and can bring in 25-50k cash to open accounts. I have bootstrapped it thus far, but would like to have some financial backing as I grow. Being in banking myself, I know most banks I deal with are not interested in lending to real estate investors at this time. Does anyone know of a bank that is "investor friendly" or have any individual bankers they would recommend? 

Thanks

Thanks...I'll get in touch with him.

I have a good opportunity for a flip that came across my desk. My usual contractors are more experienced in my low to mid level properties, and are not always as prompt as I will need them in this case. Does anyone know of any contractor that would be available in the coming 8 weeks to speak to about a project in East Grand Rapids?

Take a look at this link....I don't know the exact circumstances of your gift, but it should not be an issue in most cases...you can only have a percentage of the down payment come as a gift, and some lenders have overlays....so that may be the issue. I have been in mortgage lending for 8 years, and have not had issues making a gift fund work, but I let my customers know up front what they can have contributed.......https://www.fanniemae.com/content/tool/selling-guide-quick-links.pdf

Welcome to BP Justin, 

I am in Grand Rapids, and invest in Kalamazoo and St. Joe/Benton Harbor as well. I have 17 units rented, and have at the least tried most types of transactions and strategies, some better than others. 

Feel free to get in touch with any questions.

Thanks for all of the insight everyone.