Researching The Neighborhood

[Griffen Buchheit]

Hi BP! My name is Griffen Buchheit. I am looking to buy my first property this year, and I plan to invest in the Kalamazoo, Mi. area. I’ve found potential properties in two neighbors: the Stuart neighborhood and the Vine neighborhood. However, when researching each I noticed both neighborhoods had higher crime rates and vacancy rates than I was expecting. Lots of other investors rent out property in these neighborhoods, so I was wondering if anyone has had any problems investing in these areas, or has any wisdom to shed on how these types of statistics affect investment decisions? Thanks, I’m excited to be apart of BP!

[Gregory Hill]

Hey Griffen, I live here in Kzoo and inspect a lot of houses in both Vine and Stuart.  Vine is the preferable of the two and is quite popular with investors, however you have to deal with 100 year old homes and more frequent turnover, capex etc. In the areas close to downtown there are a few good areas and definitely some areas where crime is a huge deterrent. The Stuart and Edison neighborhoods are areas I have personally shied away from investing. On paper the properties look super appealing until you actually drive the areas.  Here is an article published by a local property management company that I have found quite helpful. I have no affiliation with them and haven't used them but thought I'd pass this on. Best of luck!! 

https://www.augustpm.com/post/...