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Updated almost 3 years ago,
Newbie investor, Looking at Lansing MI, vacancy rates?
Hello!
As the title says, I'm looking at Lansing, MI as a place to start investing. I saw several small SFH within my price range. However, I am based in southern California and have never been to Lansing. My research shows that there are a good amount of rentals and homes for sale scattered throughout Lansing. I know there are several industries such as government, MSU, and hospitals and most areas are reasonably priced, except for East Lansing, which seems to be more expensive and have larger houses.
My question is how is the rental market in Lansing? What are the vacancy rates? Foreclosures? Is Lansing more tenant or landlord-friendly? (I know CA leans tenant-friendly). How long do tenants stay ?
I've set this year as my goal to buy my first out-of-state investment property, any input/feedback/suggestions are appreciated!!