Grand Rapids, MI · Member since 2013 · 6 posts · 0 votes
Hello my name is Peter Wilder and I am from Grand Rapids MI. I am currently in the Air Force and stationed in San Antonio TX. That is why I included both cities. I am working on a degree in accounting, and am hoping to get my real estate license in the next 6 months. I am somewhat new to the REI world. I currently only own 1 rental property in Grand Rapids. I am hoping to do more investing in the Grand Rapids area. For right now just Buy-and-Hold, preferably multi-unit properties, but I have a single family right now. In 2 years when I get out of the Air Force I am hoping to do fix and flips. The plan is to move back to Grand Rapids, but I am not against investing here in Texas if the right deals come along.
I am glad I found this site, because it seems to be a wealth of knowledge. I am looking forward to learning more and connecting with the rest of you.
Investor · West Bloomfield, MI · Member since 2009 · 358 posts · 306 votes
13y
@Peter WIlder , welcome and hello from another Michigander!
A couple months ago, after taking my kids to the museum in GR, we walked and drove around the city for a few hours. I was impressed with the activity both downtown and in the neighborhoods. While Detroit gets most of the buzz these days, good and bad, I think GR has more momentum overall than Detroit. The West Michigan economy also weathered the storm better than SE Michigan did.
There are several GR area investors here on BP who certainly have their finger on the pulse better than I do, hopefully they'll pop up on here shortly.
Specialist · Grand Rapids, MI · Member since 2012 · 582 posts · 353 votes
13y
@Phillip Dwyer - I suppose I should jump in here because I do have my hands in a few different properties/projects in Grand Rapids. I've got experience on the NW, NE and SE sides of town. The North end has been pretty solid in my experience (the South side can be hit or miss)... but like anything, it comes down to one's ability to find good deals in the markets they're targeting.
To give you an idea, I own a duplex on the NW side of town (in a lower-middle class neighborhood) that I bought for $49K. It brings in gross rent of $1,250/mo (about half of which is net profit, on average). At the moment, there is very high demand for housing and rents are on their way up. All in all, I'd say it's still a pretty good time to jump in on the GR market.
Specialist · Grand Rapids, MI · Member since 2012 · 582 posts · 353 votes
13y
Good Q @Phillip Dwyer - it probably has something to do with the diversified economy of West Michigan (i.e. - our success isn't nearly as contingent on the overall health of the auto industry). There is a pretty high concentration of colleges in this town (considering it's just a mid-sized city), there is a large base of medical research and specialized hospitals in GR, and we've also got a quite a few unusually generous philanthropists who have given billions of dollars to various projects over the past 30 years - all of which has served to create a very vibrant downtown area and generate a lot of business activity in the region.
Specialist · Grand Rapids and Kalamazoo, MI · Member since 2013 · 391 posts · 116 votes
13y
@Peter WIlderI have recently moved to West Michigan, and from what I can see in the markets, @Seth Williams is right on. It seems to be a good area to get involved in.
Real Estate Investor · Cincinnati, OH · Member since 2013 · 50 posts · 6 votes
13y
Thought I'd step in here being from Grand Rapids myself, born on the hill at Butterworth Hospital. Although I haven't lived in GR in probably 15 years I do still go and visit family from time to time. It's just like any other city with it's good areas and bad. Downtown has went through a transformation as @Seth Williams has stated. Overall I think the city has been improving over the years with some exceptions of coarse. With that being said, welcome @Peter WIlder and best of luck to you!
Property Manager · San Antonio, TX · Member since 2013 · 37 posts · 14 votes
12y
@Peter WIlder Welcome to San Antonio Peter. As a fellow MI transplant, you will really enjoy SA. I have plenty of family in and around the GR area and I grew up on Mackinac Island.