All Forum Posts by: John Lutkenhoff

@Eric Johnson Thanks Eric, I've talked to a lot of the local banks and they are all about the same, but notice the down payment percentage has gone up for some of them due to the times we're in. I'll definitely take your advice and keep calling around though, thanks again!

@Nathan V. Awesome job! I live in Grand Rapids, and after a year of research and saving up the down payment, my fiance and I are gearing up to purchase our first multi family investment property. We can't wait! Your story is very encouraging and I'm glad things panned out for you, thank you for sharing it.

Did you guys create the letters yourself to send out to the owners in your search, or did you have a company do it?

@William Leonard You're awesome, thank you very much for the help. Much appreciated 

@William Leonard Thank you for the recommendation. I assume you're working with them now? Do you happen to have a contact name, I won't mention your name so no need for concern there. I just like to be able to have a direct contact rather than getting transferred around to several different people.

Customer service is definitely huge, hopefully it's improved.

@Bryan Henry I live in Grand Rapids and am looking to invest here, I'm assuming your property is in Grand Rapids? I'd be interested to know some details about it if you don't mind. 

@Dan Gamache That is what I've found so far. I've found one portfolio lender in my area that only requires 20% down, but all the rest have been 25% as you said. I have 2 partners that will be coming in with me for the down payment, I was just hoping to find a lender that required a little less so we would be able to acquire the next property and scale a little quicker. I really appreciate you taking the time to respond, thank you.  

Bigger Pockets community,

I'm a newer investor looking for portfolio lender suggestions in the west Michigan area to partner up with. My main goal is to hopefully find a lender that has some flexibility with the down payment percentage in exchange for adjustments to other terms of the loan. Ideally the down payment would be in the 10-15% range assuming the deal I can bring to the table is a secure investment in the eyes of both parties. I'm open ears to any and all suggestions or experiences, I'm curious if this scenario is possible, common, uncommon, or am I just dreaming with the numbers I've given? Thank you to everyone in advance

@Kase Knochenhauer My parents rentals in Grand Haven don't cash flow much either, a couple hundred dollars a month at absolute best. Well it's great to see you on here, I'm sure we will speak again. Thanks Kase

@Paul Leason I’m new to RE other than helping my family with their rental properties. I live in GR and am working on acquiring my first buy and hold multi family property, not quite there but getting very close.

Congratulations on being able to retire from your W-2 and go full time in RE, that’s really exciting!

I would love to sit down with you and buy you some coffee to let me pick your brain after things open back up! Let me know if you’d be willing to consider it. Thanks in advance

@Kase Knochenhauer I’m from Grand Haven Michigan originally but now live in Grand Rapids. I’m working on getting my first property in GR, but my parents still live in GH and have a few rental properties there as well. Do you invest in GH and/or still live there?