All Forum Posts by: Randy Lance

@Account Closed is the house close to a college or university? Maybe a great candidate for student housing.

Welcome Christian and Go Blue!

Good afternoon BP community. I am in the process of setting my capital improvement budgets for the year and I need some suggestions. The situation is that I have a 4-plex that has a central boiler and wall A/C units, of which they all need to be updated or changed. The tenants are responsible for electric and I plan, with these change meter their gas usages as well, in turn lowering expenses. I want these updates to be selling points, modern, and marketable with the property, that way I can increase rents.

Is there a combo unit that would work best and you have experience with? Magic pack, etc? or should i just upgrade the boiler and leave the wall units? or ductless? So many choices. If you have had a 4-plex with this setup, what have you done? Thank you.

Randy

Welcome Scott! Are you just an inspector or an investor as well? Great to see Michigan representing.

Randy

A welcome Andre from the west side of Michigan!

Douglass, welcome to the BP forums. I am rather new as well, but have found that this forum is great and very educational.

I have a couple multifamily units in the Grand Rapids area that I have owned for a year or so now and learning the ropes as they would say. How long have you been in the business? How did you get started?

~Randy

Hello to all of my fellow investors! My name is Randy and I am out of the greater Grand Rapids, MI area. I have actually had the privilege of reading and discussion a few topics in the forums already and I want to say that I think this type of dialog is invaluable to new and old investors alike.

A little about myself, i got into real estate investing by accident. I was helping a friend out and bought a house, SFH, for them to rent and then the ball started rolling. I still own that SFH, but I have also bought since then a 4-plex and a 8-unit apt building.

I now have a love for investing in real estate, specifically Multi-family residence and can't really get enough information of REI. My goal I have set for myself, considering it is at the end of the year, is to have 100 doors within 10 years.

Thank you for letting me ramble on a bit, but I look forward to working closely with all of you very soon.

~ Randy

@Cuong Le Thank you for the forum link. That is the kind of list I was looking for. Thanks again.

Hello BP, this is my first post here! I am so excited to learn from the seasoned pros out there. For this first post I am looking at books or authors that have influenced your real estate investment careers. Maybe these have changed the way you handle multi-family to SFH differently, to cash flow and investment strategies, etc.

I look forward to many more posts on here and getting to know my fellow investors in my area.