All Forum Posts by: Roque Miranda

Quote from @Michael Smythe:

It's only 25 minutes to Lansing, so it may be a cheaper rental solution for people living in Lansing.

Don't really know either market, so recommend you compare average rents to determine how likely it is someone would commute.

 Thank you Michael

Quote from @Troy DeLong:

@Roque Miranda Charlotte may be small but has a great rental population. Charlotte is a County Seat (Eaton County), so it'll always have a stable population. 

I'm a local and would be more than happy to assist with your multi-family search. 

- Troy 

Thank you Troy

Hi ALL,

Just reaching out to see if you can give me some insights on Charlotte Michigan, Small City close to Lansing MI (21 Mil), I'm researching a Multifamily building, My concern is that there is 9,000 plus population only, I see articles that show is a good rental market, but it will be grate if anyone that knows the area can have some feedback as far is Schools, Crime rate, Economy and so on.

As always, thank you guys, have a great day!!!!

Hi Nam,

The only way is creating systems that can help you navigate your project week by week.

If the numbers make sense, you should place an add and see if you can hire a part time superintendent in the area that wants to make some extra money on the side, a construction superintendent will save you time and money, only doing this part time for you it will not be that costly, obviously you'll need to manage that super and you do that with preset forms and systems in place, if you need help with forms contact me directly with your email and I will send you what I have and what I use, that should help you 

Good luck!!!

Quote from @Caleb Brown:

I would not offer internet. I would also not keep the cameras when a tenant moves in, not sure if that's allowed but even if it is that would be weird and scare off people. Having cameras during the rehab isn't bad but make sure your team is solid if you are nervous

Hi Caleb, 

Thank you for the advise!!

I'm not nervous the be honest, I'm use to the construction aspect, my idea on the rehab was to document procedures for the future project, I will not offer internet, that is clear now.

Thanks again 

Quote from @Travis Main:

Hey Roque, 

Offering cameras and internet for tenants might seem like a good idea at first, but I would advise against it. Even if the cameras aren’t connected to you remotely, they can create uncertainty or concerns for the tenants. It's best to discuss this with potential tenants before they sign the lease to see if they are comfortable with having cameras on the property.

As for providing internet service, it could turn into a headache. If there are any interruptions or technical difficulties, tenants will likely contact you for help, adding more work for you. It's simpler to rent the property without these added services.

Thank You for the advice! 

Hi All, 

quick question, I was thinking on get some temp cameras on my new rehab, as is an out-of-town investment 2 outside and 2 inside, the outside I will keep for the tenants after we rent, the inside is for the rehab process only.

this will imply having internet in the house, I was thinking on offering internet with the rent as well, you think this will help on the rental, it will add security to the tenant and I will be able to see the exterior of the house, remember that I'm new on this so your help is highly appreciated.

Internet cost is about $70.00 a month 

As always, thank you for your input !!  

Quote from @Johnathan Goodwin:

Following your journey. Can't wait to see after reno pictures!

Hi Johnatha, Thank you, I will share as I go, this is my first out of state investment, it will be lots of fun! can't wait!

Quote from @Jake Baker:

@V.G Jason Absolutely! That's a great way to put it.

Hi Guys,
Yes, that will be the move, I already know and have sketch of 2 ways to do it, I didn't want to get into a crazy rehab now, till I make sure my contractor is a team player and he will be able to do so, my idea is to add SF and create a master sweet, let's see if the numbers work fist, this is something I will do after the property is stabilized, I think I can get my capital back and some more with the 3/1 layout now, I will keep you posted!
Thank you for the comments!!!!

Investment Info:

Single-family residence buy & hold investment.

Charming Little 3/1 - We are remodeling all inside and out including new roofing, this is our first project out of state, it will be a BRRRR, hopefully first of many to come.
I will post the before and after pictures, hopefully it can help anyone starting this journey, we are new investing out of state but NOT new to handlining construction project out of state for clients, looking forward to the challenge!!!! keep you all posted

What made you interested in investing in this type of deal?

I like the concept of BRRR and the way that can help scale faster.
I have been prepping and learning on the real state side of thinks for 9 months, Books, seminars, workshops you name it!
On the construction side I have an advantage because I'm a very experience contractor that can handle multiple big or small projects, specially out of state.
I started now because I got all my systems in place! I'm Very big on systems.

How did you find this deal and how did you negotiate it?

Find it on Investor lift wholesale negotiation

How did you finance this deal?

This is my fist deal, as per recommendation of my studies I'm doing this cash and I will refi when I'm done.

What was the outcome?

Staring, will keep posting throughout

Lessons learned? Challenges?

So far, wholesaling process

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on this deal, but I'm in contact with them constantly Sicking guides