All Forum Posts by: Drew Brown

Lansing is a great place to invest. I not only invest in the surrounding area but also work with individuals who have invested in Lansing and it has worked very well for them. 
Lansing and the surroundIng suburbs provide a great mix of investments for   Just about every type of investing strategy. Hit me up if you would like to discuss more about the area.

Depending on the amount of equity you have in your current house you could sell it and invest into something that could generate more cash flow than a single family home. Take a chapter out of Uncle G’s play book at invest upwards if you have the capability. 

 Another way to find a price is to find comparable apartments and add a $100 or so to the price. Most individuals will pay a premium for a detached home than an attached home.

the key in the end though is the screening you could have it just about any price and get bad tenants and it will be a nightmare, get good tenants and it will be a walk on easy street.

Thank you,

Drew

@Hai Loc in some case yes, but others no. In the event they aren’t I care a higher repair/contingency fund for a well/septic. No the less they are cash cows in either scenarios!

@Hai Loc mobile home ages range from 70’s through the 90’s. Looking for properties with 2 through 10 mobile homes on one piece of private land.

@Bob Lett my sweet spot is multiple mobile/modular homes on a property. Doesn’t have to be a mobile home park but just a couple of mobile homes sold as a package. These make for serious cash flow!

@Bob Lett it all depends on what your strategy is, and what your appetite for risk is. The most investor friendly products that I have seen or heard of recently is single family, with most of the multi-families being over priced. 

That said there is always deals, it’s just what are you looking for and how do you plan on getting there?

@Timothy E Sullivan the short of the long is no the rental market is not saturated in the Lansing area. There is both cash and appreciation plays available in the Lansing area. 

The university and the Capital provide large numbers or residents, but also the auto and insurance industries provide a large tenant pool as well. In the end it is a steadily growing market!

@Jeff Jansen yes I have a property in Ionia and know several other area investors. It can be a great area with a large tenant pool. Let me know if there is anything about the area you are interested in or curious about.

@Jonah Kusky listen to bigger pockets podcast #361. They specifically talk about mobile homes in that episode. This is a niche and like all niches there can be riches. Let me know if you have any additional thoughts!

I am a fan of Auto-Owners, haven’t ran into any rental problems there weren’t willing to work with me on. Great company so far with a great history and claim payouts.