SFH rentals in Kalamazoo vs Grand Rapids vs Fort Wayne
Hi there,
I'm a complete newbie to real estate investing looking to buy the first investment property. I wanted to get your thoughts on a couple of the areas I'm currently considering investing in - Kalamazoo MI, Grand Rapids MI, and Fort Wayne IN.
Overall, I'm looking to purchase a single family home for rent. In addition to getting your overall opinions on the 3 areas, a couple of specific questions I had are:
- Is the area "too hot" right now to the point where the rent yields are too low?
- Is there a specific neighborhood in the area best suited for SFH investment?
- What is the projected growth in the area like?
Are there alternative cities around the area that you'd recommend me researching into?
Thank you in advance.
Most Popular Reply
Of these options I would go to Kzoo for cashflow and GR for appreciation. Kzoo and Muskegon can - in a way - be thought of as exurbs of GR. If GR prices continue to get more unaffordable for many people, they will be willing to commute 45 min for much more affordable housing.