37-Unit in Kalamazoo

4 Replies

The basics:

I'm a local investor with 11 units of my own in Kalamazoo, a great cashflow market in the Midwest (I achieved the 2% rule in case that helps demonstrate). SW Michigan continues to grow despite the east side of the state experiencing the opposite. I'm also employed full time as a marketing executive in the medical device industry; real estate is a passion and pursuit but isn't my j-o-b.

Near my investment properties is a 37-unit  with paved off-street parking lot, combined with a few rental houses that are adjacent to it. It just went on the market, listed a bit high but very worthy of a hard look and the right offer based on a detailed analysis. 

I'm interested in partnering with an experienced commercial investor or two to analyze this further based on their larger-unit dealsl experience, and potentially put something together in partnership. I'm a licensed REALTOR in Michigan (solely for my own investing), which makes access to the property and to information as efficient as possible. 

Anyone interested in lending their expertise and potentially more from there? 

Nate

Hey @Nate Miersma while I'm not particularly interested, it may be helpful to provide a bit more details of the property and what exactly has you interested other than it being near you. Where's the opportunity in the deal? What's the current occupancy rate? Are rents low? Is this a reposition? What are area cap rates? Are you looking for an investor, long-term partner or just help analyzing the deal? 

I've spent a little time with a very successful commercial real estate investor up in GR. His experience is in complexes with 70+ units, but I'm guessing he might be able to help you out since he's finally gotten out of his j-o-b and might be looking to give back. I can dig up his contact information and see if he's interested if you want.

@Nate Miersma  I would love to hear more specifics on this property and your thoughts on putting a deal together

I am just the other side of the Lake Express Ferry from you, and have some 1031 funds that I'm keen to reinvest. Please let me know some details.

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