New to Grand Rapids Investing

[Jake Lampinen]

Hi All,

My wife and I live in Denver but are looking to move to Grand Rapids in about 2 years. We decided we would like to purchase an income property there now and potentially move in it in two years or keep it as a rental. I have been reading about Grand Rapids rental market and it seems like it is a great place to start my rental journey. I am looking for single family and multi unit homes.  I am currently working with a realtor. It is very difficult though as I live in Denver.  I am a new member here and am reaching out to any Grand Rapids investors for advice.

Specifically which areas should I be interested in?

Single family vs multi unit properties?

Up and coming areas?

Property management recommendations and info on how much I should expect they charge on average?

Better to buy a property without current tenets??

And I suppose anything else you would like to share or think I should know.

I have rehabbed two properties in Denver but never had a rental property and it is quite scary.

Thanks so much

Jake

[Nick Watkins]

Hi Jake, 

GR is a fantastic market. we have everything from $20k SFR all the way up to $10 Million homes so this is going to be a hard one for me to answer without knowing the range you would like to be in.

Where should you look?      East GR is very high end start there.

Single VS Multi?               I do both in the area and find its all about the deal.

Up and coming area?      Allendale is by GVSU and im seeing land and homes being developed.

Property Management?   10% is about the cost here 

tenets?                              you could be taking someones headach.

Welcome to GR feel free to look me up when you get here and we can grab a drink and discuss what kinds of things you guys are looking to get out of the area.