Market Trends & Data

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Britt Smith
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What's up with Michigan...

Britt Smith
Posted May 27 2022, 15:23

I've been reading that certain cities/suburbs of Michigan are growing. 

What is your take? 

Grand Rapids, Michigan

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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
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Joe Hammel
  • Real Estate Agent
  • Metro Detroit, MI
Replied May 27 2022, 20:21

@Britt Smith

Yep we have quite a few markets that have 20% annual appreciation for the past 10 years. I can send data.

My whole portfolio is here cashflowing $300+ per door in good locations.

Purchase: $80k-$130k

Rent: $1200-$1500

ROI: Double Digit

Cash flow: couple hundred/month

Appreciation: Double digit (for past 10 years, will gladly send data)

Location: C, B- (suburbs and certain markets)

We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare and Auto industries.

The bad reputation comes from OOS investors wanting $20k D market properties.

Investors can retire (FIRE) in a few years with these.

We love them.

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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
Replied May 31 2022, 09:10

@Britt Smith

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...

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Replied Jun 2 2022, 06:00
Quote from @Britt Smith:

I've been reading that certain cities/suburbs of Michigan are growing. 

What is your take? 


 Don't underestimate the West side of Michigan. Many people associate Detroit with the state of Michigan. Some of the highest appreciation in the state is in Grand Rapids to the lakeshore. 

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Randy Charboneau
  • Residential Real Estate Broker
  • Grandville, MI
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Randy Charboneau
  • Residential Real Estate Broker
  • Grandville, MI
Replied Jun 7 2022, 13:36
Quote from @Scott Leuchtmann:
Quote from @Britt Smith:

I've been reading that certain cities/suburbs of Michigan are growing. 

What is your take? 


 Don't underestimate the West side of Michigan. Many people associate Detroit with the state of Michigan. Some of the highest appreciation in the state is in Grand Rapids to the lakeshore. 


 15-25% per year in West Michigan depending on the city/town.   It's pretty crazy.  We've been way undervalued for years so we can handle this kind of a jump and still be okay when the foreclosures finally start again and settle down the market.