Investing in Kalamazoo

[Stephanie Diemel Bartlett]

Hello Michigan! My husband and I are investors from Seattle, and we're currently considering opportunities in Kalamazoo. We're specifically interested in purchasing small multi-family units close to WMU. 

Any investors that can tell me a little more about what the market is like? 

We're also looking at Grand Rapids, so if anyone has opinions on investing in Kalamazoo vs. Grand Rapids, I'd be happy to hear them! 

Best,

Stephanie

[Nate Chucta]

Hi @Stephanie Diemel Bartlett!

I live in Kalamazoo and have two student rentals close to WMU.  Like most places, the market is pretty hot right now.  The homes that are in good shape go fast (and for a pretty penny compared to 5 years ago).  The listed homes that don't sell within a week are overpriced for their condition.  

Its very difficult to find a small MF for sale right now close to WMU.  You can find them a little further away that would require a car, but those don't seem to be as popular with the students.  They want to be able to walk/bike to class.  With WMU expanding their graduate programs, many investors are taking advantage of the increased 1 or 2 bedroom apartment demand and aren't unloading the MFs.  

I don't have much to offer regarding GR's market, but I can tell you that Kzoo is a great place to invest.

Feel free to send me a message if you have any questions about Kalamazoo.

Good luck!