All Forum Posts by: Connor Anderson

What are your goals and price point? There are lots of great markets but some are better suited for cash flow, others appreciation, some a mix of both. All of them have different price points.

Welcome Bryan! I think you have some great numbers here! 

Right now it is hard to predict rent increases since there are a number of factors that go into what rent rates are including supply and demand of housing, interest rates for mortgages (low interest rates turn renters into buyers), inflation, and prices of homes sold.

I know the BP calc has a box for implementing rent increase but I usually leave that as 0% and only plan on what current market rents are and count on any increase being the icing on the cake.

Tax rates are also more complicated than just a % of the sales price but a great lender can help you estimate the exact tax amount of a property you are going to be buying. I have a great lender.

A few other things I would be happy to discuss with you though.

Let me know how I can help!

Sick of paying high rent? Want to buy a house but saving up 20% is impossible? Monthly mortgage payments are too high for you to tackle student loans?

Then House Hacking is for you. House Hacking is when you use a low down payment loan to buy a house, 2 unit, 3 unit, or 4 unit property, live in one portion of the house, and rent out the other parts, creating a situation where you get to live for free!

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Some less hot markets that offer great cash flow are Muskegon, Lansing, and Battle Creek. Would look into those, I have clients that are investing in all of those areas.

Hi Bill! .

A few markets I recommend are Grand Rapids, Kalamazoo, Lansing, and Muskegon.

Grand Rapids is rapidly growing but still offers some cash flow and a good chance of appreciation.

Kalamazoo has a good price point and offers cash flow, plus is a growing market because of a number of large employers in the area that are continuing to grow (Stryker, Pfizer, and a number of other manufacturers).

Lansing has a good price point too and offers a lot of cash flow but does not see much growth.

Muskegon has the most affordable prices and the best cash flow, plus the city is doing lots of work to improve the area and the home prices, it is a market I am bullish on over the next 5 years.

Hi Alex! Welcome to BiggerPockets and the investing game! GR is a great place to invest, my advice is don't just rely on yourself for education, rely on people with more experience to help you through the education process! I invest in GR and most of my clients are investors. Would love to help you out!

Hi Martin - I recommend a few different PMs to my clients and they have great reviews, would be happy to share their contact info. Please reach out!

Hi Jack - STR can be a good investment, however, most cities in West Michigan do have restrictions on short-term rentals (has to be a primary residence oftentimes).

My question to you would be what has you considering STR compared to long term? With Michigan having harsh winters you really only make money 5 months out of the year with STRs. Because of that I oftentimes see better returns going the long-term rental route.

Let me know if you have any additional questions!

Congrats Will! Excited to see what you do next!

My best advice is to find another agent that is more experienced than you and partner with them. In today's competitive market it's almost harder to get deals under contract than it is to find buyers. Partnering with an experienced agent and giving them a portion of your commission to help you get deals under contract while you learn from them for 6-12 months will lead to more success than going out there on your own and not getting any deals done and failing out like the majority of new agents. 

If you are looking for potential agents to partner with let me know!