All Forum Posts by: Nathan Broekhuizen

This is something you would have to talk to Sullivan Twp about. If their minimum is 700 sq ft you would have to get a variance. However, if you build a tiny home on wheels that could be moved I wonder if you could get away with it. I would call the zoning & building department for Sullivan Twp and explain what you’re thinking and see what they say or recommend. 

If they are on a month to month lease you can send them a lease renewal option and you could give them three options. For example:

Stay month to month for $1,000 

6 month lease for $950 

12 month lease for $900 

Hi Sam, 

I'm a Realtor in Holland and have several clients who are investors and if it is a good deal they would give you a finders fee. Otherwise, I would love to sit down and see if it might be something that you could purchase! Feel Free to message me!  

I live in the Holland area and have managed two vacation rentals and they do well. In the off-season we find a tenant for 6-8 months. I like the log home idea because I feel like a lot of airbnb users like staying in unique properties. I believe your lots are in Park township which do not currently have any restrictions but Holland Charter Township banned short term rentals but do not currently have any way to enforce it. The city of Holland currently has a pilot program to see if short term rentals have any negative affects. I know a few builders that I could connect you with. You came up with a cash on cash return for this investment of 6 percent.. How much income are you planning on generating per year for one of the houses? I doubt the township will allow you to share a well & septic system.. would love to see the numbers you ran! 

You do not have to choose just one agent. Let them know what you are looking for and use the agent who finds the right properties for you. They will all likely set you up with a search on the MLS which is okay but the agent that is sending you off market deals is the agent you want to work with. I'm a Realtor and I met with a potential client who wants to get into real estate investing and I encouraged him to talk to other agents as well about what he is looking for. If I can't find him an investment property that hes interested in and another Realtor can, then the other Realtor deserves to get the commission. However, most agents will set them up on a search for multifamily properties and ask other agents if they know of any coming available. Whereas, I will be calling rental owners in the area asking them if they would consider selling.. hope this helps!

Sam,

I've been in real estate for almost two years now so only a short period of time. I would recommend buying a single family house or a duplex and house hacking like you mentioned in your post. I have been renting from my brother and sister in law waiting for the right opportunity (paying $425 a month). My friend and I just purchased a duplex on the north side of Holland for $300,000. One half rents for $1,620 a month and we are going to occupy the other unit. Its technically 3 bedrooms and 2 bathrooms each side but we are going to finish off the 4th room and 3rd bathroom as well. We are going to rent to two of our friends and they will be paying about $300-350 for a room. So basically my friend and I who purchased the duplex will be living for about $100/month not including vacancy, repairs, maintenance and we will be self managing since its only one unit. I think that living at home is also a good option since it is likely free but if the right opportunity comes up don't be afraid to go after it! 

I don't think that the market will take as big of a hit as it did back then. I also have investors that I work with who bought in 2011 who purchased a 4 plex for 170K and is bringing in almost $3,000 a month in rent. He also purchased a house for 80-90k that is bringing in $1950 a month. It was definitely a great time to buy but a lot of these investors bought when others were scared too.  If your thinking of investing in real estate (for when the market takes a dip) I would suggest trying to save more than 5-10k because I personally don't think we will see houses selling for 10-20K in the west Michigan area. 

@MoraClark

Holland, Zeeland, Grand Haven, and Saugatuck 

@Mora Clark I am a Realtor and property manager in the west Michigan area so feel free to reach out!