I have started looking for cashflow on the edges of the Grand Rapids area lately. I am going into Muskegon. I will probably have 2-3 MKG units by the end of 2021. I have been very impressed with how much nicer Muskegon is now than a few years ago.
My theory is that many renters are being priced out of GR and this is only accelerating. Therefore, many will be willing to make the 40 minute commute from Muskegon in the future.
QUESTION: Does this theory hold in Battle Creek too? Is Kalamazoo area employment growing at rate similar to GR? Cashflow in BC seems to be about the same as MKG, but I could be off. I am less convinced about BC in the long-term. As I see it now - I need more cashflow in BC for me to bite. This has almost nothing to do with BC or MKG themselves - rather GR being a better long-term employment market than K-zoo.
Anyone out there share this view? Anyone feel differently? Let's have a showdown to decide the West Michigan cashflow market champion! :)
I agree with your take on GR vs KZO employment. GR is just a much better employment market and better place for employers to find young talent. I have done quite a bit of development in BC and City is great to work with but demographics are tough.
Not really up on this. I have a duplex in Grand Rapids that seems to be doing alright. Just saw a property in Muskegon that looked interesting. I'm looking for cash-flows in the SW Michigan area, hour or less from Holland. Let me know how you're doing.
I agree with your take on GR vs KZO employment. GR is just a much better employment market and better place for employers to find young talent. I have done quite a bit of development in BC and City is great to work with but demographics are tough.
years behind Muskegon in the economic cycle. Great opportunity to get a steel on well built homes but not sure when it will rebound but when it does it will explode. I look at homes I bought and sold 10 years ago and where they are at now in Muskegon and wish I bought more.