Plan buy rental property in michigan

Member since 2024 · 29 posts · 11 votes

Hi,

I am planning to buy rental property this year in Michigan. Which city, area in Michigan has more potential for growth? Any city, area do you recommend/suggest? I am open for single family, condo and multi family options.

Thanks,

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Jeff Roth

Real Estate Consultant · Ann Arbor, MI · Member since 2022 · 463 posts · 253 votes

Hi Ayyoub-

Great question on where to buy a rental in Michigan.

When I talk to my investors about buying rentals in Michigan, if you don't have the budget for an Ann Arbor, Lansing is a fantastic market for buying income properties.

The price points are very favorable. There is high demand for rental properties so as a result rent growth is strong. It is the State capital so always a lot of economic development and job creation locally. Local government is landlord friendly and taxes and cost of living are lower. As a result, the cost to do service work on your property is also lower than other places in Michigan. Finally, appreciation is predictable and linear.

I always work with my local property manager partner when selecting and analyzing a property with my investors and use them to manage the property after purchase to optimize the ownership and investment experience.

To your success!

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Jeff Roth
Real Estate Consultant · Ann Arbor, MI · Member since 2022 · 463 posts · 253 votes
2y
Hi Ayyoub-
Great question on where to buy a rental in Michigan.
When I talk to my investors about buying rentals in Michigan, if you don't have the budget for an Ann Arbor, Lansing is a fantastic market for buying income properties.
The price points are very favorable. There is high demand for rental properties so as a result rent growth is strong. It is the State capital so always a lot of economic development and job creation locally. Local government is landlord friendly and taxes and cost of living are lower. As a result, the cost to do service work on your property is also lower than other places in Michigan. Finally, appreciation is predictable and linear.
I always work with my local property manager partner when selecting and analyzing a property with my investors and use them to manage the property after purchase to optimize the ownership and investment experience.
To your success!
1 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
2y
The list is long. What are your requirements? What are you working with as far as funding? Where are you located? What strategies do you know?
1 Reply
River SavaPro Member
Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
2y
Hey Ayyoub -
Depends on your goals/strategy. Are you looking for something turnkey or are you open to rehabbing? What is the price range you are looking for? Happy to connect and chat further.
[email protected]
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Ayyoub Feza
OP
Member since 2024 · 29 posts · 11 votes
2y
Quote from @Joe Villeneuve:

The list is long. What are your requirements? What are you working with as far as funding? Where are you located? What strategies do you know?
it would be rental property, open for both cash flow and long term appreciation. Finding: open for conventional loan. This would be my second rental property. I am located at Michigan. Since have w2 jobs, not sure how much I can be involved in rehabbing for brrrr.
0 Reply
Ayyoub Feza
OP
Member since 2024 · 29 posts · 11 votes
2y
Quote from @River Sava:

Hey Ayyoub -
Depends on your goals/strategy. Are you looking for something turnkey or are you open to rehabbing? What is the price range you are looking for? Happy to connect and chat further. Thank
For rehabbing, it depends on how much work it needs and how much cost. I am open to options. In general I am looking for good appreciations and cash flow properties in good areas. For price range below 250-300k, more lean to 250k. Will use maybe conventional loan.
0 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
2y
Quote from @Ayyoub Feza:

Quote from @Joe Villeneuve:

The list is long. What are your requirements? What are you working with as far as funding? Where are you located? What strategies do you know?
it would be rental property, open for both cash flow and long term appreciation. Finding: open for conventional loan. This would be my second rental property. I am located at Michigan. Since have w2 jobs, not sure how much I can be involved in rehabbing for brrrr.
Where are you located in MI?
0 Reply
Ayyoub Feza
OP
Member since 2024 · 29 posts · 11 votes
2y
Quote from @Joe Villeneuve:

Quote from @Ayyoub Feza:

Quote from @Joe Villeneuve:

The list is long. What are your requirements? What are you working with as far as funding? Where are you located? What strategies do you know?
it would be rental property, open for both cash flow and long term appreciation. Finding: open for conventional loan. This would be my second rental property. I am located at Michigan. Since have w2 jobs, not sure how much I can be involved in rehabbing for brrrr.
Where are you located in MI?
Oakland county
0 Reply
Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
2y
Man, I can't imagine being in Metro Detroit and not going hard into the Detroit (proper) market.
That's exactly what I did and it's been amazing. Go downtown, start understanding all the revitalization that's been happening in the city for 10 years. Watch major Duggan's State of the City address he just gave the other month (google it).
You can be hands on in one of the hottest, up-and-coming markets today for long-term rentals. Get to it!
1 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
2y
Quote from @Ayyoub Feza:

Quote from @Joe Villeneuve:

Quote from @Ayyoub Feza:

Quote from @Joe Villeneuve:

The list is long. What are your requirements? What are you working with as far as funding? Where are you located? What strategies do you know?
it would be rental property, open for both cash flow and long term appreciation. Finding: open for conventional loan. This would be my second rental property. I am located at Michigan. Since have w2 jobs, not sure how much I can be involved in rehabbing for brrrr.
Where are you located in MI?
Oakland county
Can you be a little more specific.
0 Reply
Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
2y
@Ayyoub Feza Detroit just beat out Miami as fastest appreciating city in the USA!
You could also look at Ann Arbor or Grand Rapids.
We do turnkeys and full-service management, so if you have any questions about those, PM us.
Logical Property Management4.9453 Reviews
Website View Page
1 Reply
Dushan Selvakumar
Member since 2021 · 11 posts · 2 votes
2y
Quote from @Michael Smythe:

@Ayyoub Feza Detroit just beat out Miami as fastest appreciating city in the USA!
You could also look at Ann Arbor or Grand Rapids.
We do turnkeys and full-service management, so if you have any questions about those, PM us.
Heyy im looking at doing brrs and a foreign national.
Which areas in detroit should i look for?
0 Reply
Ayyoub Feza
OP
Member since 2024 · 29 posts · 11 votes
2y
Quote from @Joe Villeneuve:

Quote from @Ayyoub Feza:

Quote from @Joe Villeneuve:

Quote from @Ayyoub Feza:

Quote from @Joe Villeneuve:

The list is long. What are your requirements? What are you working with as far as funding? Where are you located? What strategies do you know?
it would be rental property, open for both cash flow and long term appreciation. Finding: open for conventional loan. This would be my second rental property. I am located at Michigan. Since have w2 jobs, not sure how much I can be involved in rehabbing for brrrr.
Where are you located in MI?
Oakland county
Can you be a little more specific.

Rochester Hills
1 Reply
Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
2y
@Dushan Selvakumar Recommend Class C+ and above. PM us for a more in-depth discussion:)
Logical Property Management4.9453 Reviews
Website View Page
0 Reply
Kenneth JenkinsBusiness Member
Member since 2023 · 54 posts · 40 votes
2y
@Ayyoub Feza Congratulations on making the decision to get started. We love to direct investors to the Western Wayne County because the price point to rent is still very attractive without the downside risk of 36th District Court in the city proper, or the challenges of an uncooperative city government like Warren. If you want more details feel free to reach out to me directly.
Propel Property Management4.3206 Reviews
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1 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
2y
Quote from @Kenneth Jenkins:

@Ayyoub Feza Congratulations on making the decision to get started. We love to direct investors to the Western Wayne County because the price point to rent is still very attractive without the downside risk of 36th District Court in the city proper, or the challenges of an uncooperative city government like Warren. If you want more details feel free to reach out to me directly.
That's where I am. Very profitatable.
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