All Forum Posts by: Jorie Aulston

@Shiraz Ali I went to high school in Harrisburg and know the area very well. I just sold 2 homes near midtown, so that is the top location for most investors in the city.  What everyone said is true, about one block being different than the next.  I actually just picked up two rentals in the Allison Hill neighborhood, you just have to know where to invest.  There are pockets which are fine and some that have issues.  But there is some redevelopment going on in certain areas of Allison Hill so I try to stay close to those areas.  If you need advice let me know.

Sorry I thought I included this link

https://www.respectedhomesales.com/property/kalama...

That will take you to the property page with all the pictures

This is a true side-by-side duplex with 3 bedrooms and 1 bath in each unit. This is the true definition of a value-add property. This side by side duplex will need a complete rehab, but once finished it will bring in amazing positive cash flow. Each side has 3 bedrooms and 1 bath, large living room, dining room and spacious kitchen. All 3 bedrooms are upstairs as well as the full bath. Both units have large full basements. The property has newer vinyl windows but will need pretty much everything else. It will need new furnaces and water heaters. The roof is about 10 years old and still in good condition. It needs new exterior siding as the old composition siding is rotting. Inside it needs updated kitchen and baths, paint and flooring. But after all those repairs you will have an amazing duplex under $100,000.  We estimate it will need 40-50k in repairs. After repairs are done, it should bring in $1600-$1700/month in total rent.  Property is located walking distance from downtown Kalamazoo and a few miles from Western Michigan University and Kalamazoo Community College. If you are interested in this property, give me a call today at 616-251-1183 or email at [email protected]. Don’t forget to visit our website at www.respectedhomesales.com to sign up for our VIP buyers list and get notified on all our new properties

Purchase Price:-$35,000

Est. Rehab:-$45,000

Total Investment-$80,000

Potential monthly Rent-$1,600

Potential Annual Gross Income-$19,200

Estimated Monthly Expenses

Taxes- $113/month ($1,353.88 yearly)

Insurance-$65/month

Vacancy-$80(5%)

Cap Ex-$80(5%)

Repairs-$80(5%)

Management-$128(8%)

Total Expenses-$545.83

Monthly Cash Flow-$1,054.17

Pro Forma Cap Rate-12.65%

NOI-$12,650

@Tony Kim come on you know how they were decided, lol. Remember they were decided by the individual states so there is a lot of influence involved in where they land. I'm not complaining though they are benefiting my investment areas too.

@Jeffrey Holst this is what I was going to say. Most of the areas I already invest in, are in OZ and they are not high-crime ridden or high risk areas. They aren't your Class A/B areas but they are very solid areas where we've already been investing for years. I've been researching the guidelines heavily to try to figure out exactly how it works.

@Shoulk Roup welcome to Bigger Pockets. I have been investing in Grand Rapid and surrounding areas for close to 13 years. Always open to give you any advice you need.

@Frank Wong but those same no doc, stated income loans that drove the last crash are popping up all over the place again. So....

Welcome to BP Dena

You will find a lot of useful information here.  I do a lot of investing in Kalamazoo.

Send me a message with your info. I have a couple contacts who will do hard money.

Grand Rapids and Kalamazoo are the best markets in my opinion.  Grand Rapids is one of the hottest markets in the country right now.  But you can still find good deals if you look hard. Kalamazoo is an up and coming market with way less competition. I personally like the Kalamazoo area alot right now and think there is alot of growth to come to the city in the future.