All Forum Posts by: Julie Haveman

Hi Jackie, We are investing in Surrounding areas of GR. We have all duplexes. 2 in Jenison, 2 in Kentwood, and 4 in Wyoming. We have not used the BRRRR, but rather mortgages and seller financing. It's a great area to own rentals, very low vacancy. Prices are for sure on the rise! Welcome to BP. You will learn a lot!

If you could get higher rent, I would keep security deposit and cut her loose!

You can be notified if they are not being paid, but the tenants need to sign a form. Some landlords include that form right in with the lease.

I would go with as many 30 year mortgages as you can, HELOC usually have adjustable rates or balloons on them.

Welcome Nick Watkins we also have a couple rentals in Jenison! Small world!

Shawn Breyer we have a few contractors we have used, what are you looking for?

The financing was a learning experience! The first 2 duplexes we purchased from the same seller at the same time. We financed both with Wells Fargo. Two words about them, NEVER AGAIN! The 3rd we bought with a HELOC on our personal residence, the 4th we bought with a credit line from the third. The 5th was bought 30 year mortgage from Chemical bank. Loved working with them. The 6th was owner financed. The 7th was purchased from the payed down HELOC on personal. The 8th is being financed through Mortgage One in GR

We bought our first duplex in 2012, and now we have 7 duplexes with our 8th one under contract. So it will be 16 units. Self managing teaches you a ton about the business and will also help vet property managers later. Because we are still purchasing more, don't really want to hand over 10% or in our case $1100 per month. I work from home so can handle any phone calls from tenants. Repairs can be farmed out if you don't want to do them. We are getting between 1.2% - 1.6% of rent vs. purchase price. It works for us! The only repairs we have farmed out are roof, furnace, sewage leak, and tub replacement. I hope this helps!

Hi Erich, We are from Allendale. We have properties in Jenison, Wyoming and Kentwood. We have looked at several in Grand Haven and Holland, but have not pulled the trigger yet. We both work full time and self manage, so more important right now to stay invested in that direction! Welcome!!

I would put them on month to month lease. When a new person moves in, redo the lease at higher rent so the new person pays the extra.