Hi, I am an active investor looking to expand my portfolio to Grand Rapids, Michigan. Primary interest is Multi Family (6 units and above). Looking forward to connect with people who are active in the area and have good insights investing from the ground.
- - How are the Multifamily availability? Are there good larger multi-family available?
- - How competitive is the MLS? Shall I look into off-market as-well.
- - How is the crime and growth scenario? Employment and job growth?
- @Pradeep Tiwari
Multi-family if the commercial brews are scarce but they do come up every now and again. Most trade off market between the PM company and their investors, which I why I meet and network weekly with a group of Property Managers and Realtors who operate in those fields.
The MLS is very competitive at this point in time and hasn't been for some while. MF and SFH homes typically have multiple bids with various clauses to enhance the bids: Escalation clauses, waiving inspections, high EMD, free possession after close, faster inspections etc.
Crime and growth are area dependent, crime especially. Got to know the areas to work in and thOse to stay away from (fewer now). Growth on a whole though is pretty good for GR and Kentwood and numerous time GR is in the press for things like hottest ZIP in the nation (49505) and best place to start a business, Learn medical .....
Hope that answers your questions.
Rudy, I’m located in Mill Creek and actively invest in GR multi family. Happy to connect live to talk through my experience.
Rudy, I am an investor and Realtor here in Grand Rapids. It's still a great place to invest and I'd love to help you find what you're looking for so please reach out to me. You can find me listed in the Agent section of the site for my contact info since I can't include it here.