yes...very low...but if you look at the rental costs...they are about the same as everyware else. I am working on a 4 unit i think i can have running for under $20k....2 studios, 2 1bedrooms...close to the colleges.
every block has one or 2 boarded over...i think it is a gold mine!
Are you talking about the student ghetto, or Fratville? If you weren't a student at Western, is it west of campus or east of campus? Pro and cons to each. The student ghetto (east of campus) seems to get taken care of a little better, but crime is a bigger issue. Fratville (west of campus) gets torn apart by underclassmen. Pick your poison.
I'm excited to move back and start investing as well. Best of luck!
Investor · Joliet, IL · Member since 2013 · 59 posts · 32 votes
11y
Hi Stephan,
Welcome to BP! One thing I wish I had more of is construction background. I think it will prove very valuable to you as an investor.
While I am not exactly a local, I have begun marketing in in southwest Michigan, and was wondering if you could offer any insights on the state of the market there, particularly in Kalamazoo. It seems like the employment picture has improved dramatically over the last year, but housing prices are still low.
Investor · Delton, MI · Member since 2015 · 133 posts · 14 votes
11y
yes...very low...but if you look at the rental costs...they are about the same as everyware else. I am working on a 4 unit i think i can have running for under $20k....2 studios, 2 1bedrooms...close to the colleges.
every block has one or 2 boarded over...i think it is a gold mine!
Investor · San Ramon, CA · Member since 2011 · 1k+ posts · 569 votes
11y
2nd Monday of each month... so yes, this coming Monday the 12th.
As for a flip seminar... I keep seeing something on Facebook but I'm not looking to spend a weekend being told I should be paying for the next seminar where they'll REALLY tell me what I want to know :) I'm also a buy and hold investor... so while I'm curious about flipping to myself (enough to invest in J Scott's book), I'm not in the market for flipping seminars at this time!
Investor · Grand Rapids, MI · Member since 2012 · 224 posts · 40 votes
11y
Hi @Stephan Haas ! Kalamazoo has some things going for it, but it seems to be a pretty good rental market. Especially because of Western U. Now... if we're talking Portage just outside of Kzoo that's a good flip area to look into as they have great jobs from Stryker, Borgess, and plenty of other manufacturing/engineering companies.
Be sure to flag me down and say hi at the meetup next monday if you come up ! @Nathan Emmert hope to see you there too!
yes...very low...but if you look at the rental costs...they are about the same as everyware else. I am working on a 4 unit i think i can have running for under $20k....2 studios, 2 1bedrooms...close to the colleges.
every block has one or 2 boarded over...i think it is a gold mine!
Are you talking about the student ghetto, or Fratville? If you weren't a student at Western, is it west of campus or east of campus? Pro and cons to each. The student ghetto (east of campus) seems to get taken care of a little better, but crime is a bigger issue. Fratville (west of campus) gets torn apart by underclassmen. Pick your poison.
I'm excited to move back and start investing as well. Best of luck!
Flipper/Rehabber · Kalamazoo, MI · Member since 2015 · 34 posts · 22 votes
9y
Rachael A. Tanner welcome to BP I am a local investor in kazoo. We have purchase/sold to date (July 2008-March 15) 1295 homes. If you are looking for an experience, down to earth type of person that can walk you thru your first rental or flip (wholesale or rehab) I am here to help you with the mechanics of the Deal process-
Bay Area · Member since 2016 · 42 posts · 11 votes
9y
Hi Jason!
Thanks for reaching out. Right now I am in my learning and saving phase. I hope to have the necessary capital for my first rental saved up by the spring time. I'll certainly welcome any mentoring and advice! Maybe in the new year we can set up a time to chat on the phone and I can review my plans with you. I would love feedback. I would say earlier, but i am moving soon and then have family visiting, so I'll be pretty tied up.
Flipper/Rehabber · Kalamazoo, MI · Member since 2015 · 34 posts · 22 votes
9y
No problem!Rachael A. Tanner I am trying to be more available for people on BP getting started. Just privet message me and I'll shot over my direct line. In the past, I put out my number on hear and from my "viral" post (not really viral) I got hundreds of calls. Will talk soon
Investor · San Diego, CA · Member since 2016 · 9 posts · 7 votes
9y
@Jason Smith I too am looking at investing in Kazoo, would you mind some bending of ear about a 1031 exchange into properties in the northside? Since I'm out of state I want to make sure I'm proceeding profitably!
Flipper/Rehabber · Kalamazoo, MI · Member since 2015 · 34 posts · 22 votes
9y
@Mark Alexander Davidson I am! Very heavily NOW! Half of the business is Wholesaling (we starred the wholesale game in KAZOO/BC area so if anyone tell you other wise they are lying LOL) the other half is using those profits to buy homes with LC and other creative ways to structure a deal that will generate me $250-325 Net cashflow monthly (using the profits for DWN PMT). What type of an investor are you?
Rental Property Investor · Kalamazoo, MI · Member since 2017 · 19 posts · 11 votes
6y
@Narayanan Krishnamoorthy - great to connect with you. I am not a realtor but I'd be happy to share who I use for the Kalamazoo area; George Wright with Fitzwright (Keller Williams). George is a local investor and has been able to help me analyze properties qualitatively and quantitatively. Feel free to message me for his contact info.
Flipper/Rehabber · Kalamazoo, MI · Member since 2015 · 34 posts · 22 votes
6y
@Narayanan Krishnamoorthy I am glad you are interested in investing into The KAlamazoo area. I am not to familiar with that realtor that Dave recommend but some areas of the city has great cash on cash ROI that some realtors are not really savvy on. I have been investing since 2008, we have seen the fall of the local area as well as the rise that is happening right now. If you would like a better understanding on how the market is doing in some of this areas send me a DM. BTW many realtors around hear (not saying Dave's guy) like to take advantage of people from the west cost because the market here is very affordable versus where you are...just my 2 cents on the matter