All Forum Posts by: Mel Kline

Hello, maybe someone could help me. I am trying to post a listing for sale in the BP Marketplace. every time I click on "new listing". It says I must be logged in. I log out and back in a few times to make sure and it still happens.  any help would be great!  thanks! I am selling a triplex in Muskegon County, Michigan.  Sale price is $135k (negotiable) and brings in monthly rent of $1775.

@Brian Ellis yes that is huuuuge!!!

So many go to college because its the next thing to do in life and what society says to do, yet, it seems now a days it’s all about connections not completely what your resume says.

Don’t take on a ton of debt if college isnt something you are passionate about ! Many fields dont need a degree. Im not discouraging college/education but research it first. Its the biggest loss on ROU out there if not done correctly!

Figure out what you want to do and go for it full force! There is a ton to learn online and by making connections and shadowing people!

Set yourself up for success by creating short and long term goals

Good luck!

 Thanks so much! I will ask them that as well!

 @Bill Brandt, that is just an estimate for Electric, Water, Sewer, and Gas for THREE units. Id rather calculate high than low. 

Hey if its way lower thats just even more profit :) 

Hi community!

We are in the process of closing on a three unit rental that is roughly 45 minutes from our home.

Our realtor/good friend owns a property management company along with having numerous properties himself. He charges 6% for his property management company.

A few numbers on our (soon to be) property.

Rents for $1750

Mortgage and Escrow: $550

Utilities: $450(high end)

Property Management: $105

Estimated Profit: $645

Utilities Note: the gas and electric are not separate so its included in the rent.

Would it be smart to hire the property management company right away or wait until we have five or more properties?

We plan to close on this one next week and right away apply for another one. Numbers seen to be right and we should be able to qualify for another.

We have done a flip before and also a live n flip, but this is our first rental property.

Thanks for all your input!

Hi! 

My husband and I currently live in Michigan, but are thinking of moving to San Antonio, Texas to be closer to family.  We are currently working with a realtor in Michigan to purchase fix and flips and also duplexes to rent out.  We currently live in a fix and flip and are nearing the end of it.  We currently do not have any other properties.

My question/thought is, should we purchase a couple properties here, before we move, that we could rent out and have property managed by a company?  We would spend about $70k on each property and rent would be around $1200 a month.  Property Management company charges 6%.

Or should we wait until we move to San Antonio, Texas in the next few months and purchase rental properties/ fix and flips there.  The thing is, We know nothing about the market down there. My husband was a realtor here in Michigan and knows the market here.  

Thanks in advance for your help community!!!! 

My husband has been a realtor for a year. We have no other experience. Just getting started in the investment part. 

My husband and I have 80k to invest but we unsure where to start.

We currently rent an apartment and have been able to save due to renting a very low cost three bedroom apartment. It has worked with well for us and our kids.

We are unsure where to start investing. My husband is currently a realtor part time and a full time furniture delivery man. I currently and a teller at a local credit union.

We have thought about flipping and rentals.

Should we start with moving into a duplex and renting out the other side? Should we rent out both sides and stay in apartment. We could get closer to $1,200 each side for duplex and are currently paying $730 for our apartment. Should we start with flipping a house first and then sell it and use the profits for a down payment on a rental?

We are in Western Michigan.

Thanks in Advance for any help!