All Forum Posts by: Kyle Fedewa

@David Hall thank you!  Sounds great!  I would definitely like to connect sometime and I'll try to get to the meetup.

@Eric Allman thank you and same to you!  One of my favorite quotes is, "Fools learn from experience.  I prefer to learn from the experience of others."  Eventually we all just need to dive in, but I'm a firm believer in learning from others in some way first.  I finally read Rich Dad, Poor Dad and The Richest Man in Babylon.  What book did you read that you found most helpful?

@Michael S. thank you!

I’ve been on here for a while, mostly lurking in the shadows listening to the podcast, just never got around to introducing myself. So, I’m Kyle Fedewa, I live in Grand Ledge, MI which is right next to Lansing, MI and I’m looking to invest in the greater Lansing area. I’m here to learn from others, and help others in any way I can. Feel free to reach out and connect!

Sam Shueh most tenants are long term, several years. 2 of them are recent. They are all currently full. There is some work around, but it’s also only a block from a trunk line and 20 minutes from Lansing, where rent is much higher. So I don’t think there would be much problem getting it filled. Thanks for the advice!

@anthony Dooley, thank you for the advice!

Milton Rivera thanks for the input! Just to clarify, these are duplexes, so 6 units total. Still around 1.4% though.

I am currently looking at purchasing my first investment property in the greater Lansing, MI area. My realtor sent me a property that has not yet been listed, 3 duplexes all next to each other, asking price is $229,000, each unit is a 2/1 and currently rents for $585 with landlord paying water and sewer($50/mo per unit). Subtracting all the numbers he gave me, I’m showing it clears $2,358.15/mo before any debt service or cap ex. Also, these were built in the 70s and all in seemingly good shape. Will need roof in a couple years, but overall good shape. Obviously there are a million variables, but on numbers alone, what are your thoughts on this? The only thing that is holding me up, is the cap ex. It is out in the country, so the rent is low and correspondingly the price is low, but all the cap ex costs will be the same. Any advice or input would be greatly appreciated. Thank you!

Hi Nathan, I’m in Lansing too. Just looking at getting started in real estate investing. I’m not aware of any clubs either, but if you ever want to connect let me know. I might also have to check out the one in Troy.