Preparing to list 3 adjacent multi unit properties

3 Replies

Hi everyone, 

I'm getting ready to list 10 units that I currently own. Most of the remodeling is complete with the exception of units that have had long-term renters in them (which are still reasonable); some units are fully remodeled, others have had a new kitchen/bath/etc depending on need during turnovers. 

Wondering what others' success has been in the local area (Kalamazoo, near WMU campus and walking distance from downtown Kalamazoo - at corner of Cedar and Pearl in case it matters) with selling lately and if there are recommendations for best positioning these properties. 

Also wondering how those who have sold recently have positioned for visibility to long-distance investors (in California for example) - any best practices?

Thanks in advance for any insights you can provide.

Nate, 

As someone potentially in your target market I'm looking for rental history, quality of build / condition of the place, and a decent cap / cashflow. The reason we're investing back east is because the numbers make sense in regards to cashflow. Appreciation is a maybe in that market (in my opinion) aside from inflation. 


Hope that helps,

Hi Nate, 

I currently live in the Silicon Valley and can tell you there is a lot of buzz at the moment to look at properties east, including in MI, and who would be interested in purchasing properties from investors that can show historical ROI.

I'm curious what your experience has been in Kalamazoo? Is there enough industry to keep the vacancy rates low? What class of tenants did you end up renting to?

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