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All Forum Posts by: Tim VandenToorn

Tim VandenToorn has started 11 posts and replied 272 times.

Post: West Michigan banking ?

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

Nick, When I refinance on a BRRR strategy I do them commercially. There are no seasoning requirements, but the loan terms are not as favorable as a traditional loan. Due the the complexity of my portfolio commercial is the route to go for me. Unfortunately I can't give you advice on a traditional loan. I am surprised by the year long requirement though. I have heard investors refinancing after as little as 3 months to 6 months. I will check around.

Post: Looking for strategies in a seller's market

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

Kevin I would love to help with this process.  I think the first thing you need to identify is the rate of return you are looking to achieve.  Once you understand this, and are confident with the numbers bidding on properties is easy.  It either fits or it doesn't.  Don't get caught up in the emotion of "highest and best" Establish your goals and bid accordingly.  I advise people to buy only based on the numbers (although it's hard to ignore appreciation) as the economy goes up and down your investment will be stable based on the rental income and not determined by comps or the market. 

Feel free to reach out and we can discuss further. 

On a separate note I am looking for an architect for a remodel on my personal residents.  Maybe we can talk about that as well. 

Post: Looking for assistance in the Grand Rapids/West Michigan area

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

Anytime

Post: New Michigan Investor

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

@Sam Shepherd If you need help from a property management perspective let me know.   Network, build relationships and study the numbers.  Know and understand your goals!  This will make the decision process easy once you find a deal.  Good luck investing.

Post: Wholesaling in Michigan

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

@Jackie Runals add me to your list! I am a buyer and need leads =)  

Post: I'm 23 and new to real estate, what's your best advice?

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

@Dale Radcliff Keep your nose to the grind.  Network with investors, property managers, realtors, and even locals homeowners.  Look for distressed or abandoned houses in the area you want to invest. Perhaps there are creative partnerships you could form with someone?  You obviously have skills and knowledge in construction and remodeling which you need to use to your advantage.  This is a valuable skill for investors, and you could likely form a partnership with some who lacks this skill but perhaps has money to invest.    Start looking at investment properties and get familiar with the expenses and income.  Identify what rate of return you are comfortable with or how a partnership would be formed around these numbers.  Once you find a great deal, reach out to your network and put something together! Sounds easy right? =) Real Estate investing is exciting.  

If you need anything feel free to contact me directly. 

Post: Investing in Grand Rapids-Wyoming. Recommended neighborhoods?

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

@Jake VandenAkker If you need help with property management or if you would like a second set of eyes to review your purchases I would be happy to help.  Randy is a great resource for purchasing.  Inventory is low, so connect with as many in Grand Rapids as possible!  I look forward to helping. 

Post: Looking for assistance in the Grand Rapids/West Michigan area

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

@Steven Dreyer I am local here in Grand Rapids, and available to help or give advice with both property management and purchasing.  The inventory is very low, but I have a few realtors working under my brokerage whom we could work together with to identifying and purchasing a properties. Thanks 

@Kate Stephens for the referral. 

Post: Real estate attorney recommendation needed

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

@Todd Bowen I can help with this. Inbox me

Post: New member from Grand Rapids

Tim VandenToornPosted
  • Real Estate Professional
  • Rockford, MI
  • Posts 293
  • Votes 135

Welcome @Joseph Runals!