Updated over 9 years ago on . Most recent reply
Lansing, MI Multi-Family Market
Hi there,
Starting my 2016 search for multifamily properties out of state. I have some friends that went to MSU, and have great things to say about East Lansing. I've done some research in the past, and obviously west of 127 is significantly cheaper to purchase. Some of the numbers look good, but I'd like to get the perspective of locals.
- I don't expect the area to appreciate a ton in the next year or two, but how does everyone feel about Lansing vs. other parts of Michigan?
- Are there any areas that are a definite no go? What's a good area for rentals?
- Does anyone have recommendations for Property Managers? I'm looking to get a 3-4plex in the next couple months, and hopefully keep growing this year.
I'll be making a trip to Detroit/Lansing at the end of the month, and would love to buy lunch/coffee for anyone that wants to share some thoughts :).
Thanks!
Kevin
Most Popular Reply
@Kevin Shuler I don't personally have any multi-unit properties. I had a 3 unit many years ago. I know that in this area multi-units generally have a higher rate or turn-over though. I asked the owner of the management company I work for. Here are his thoughts:
Hope that's helpful!
I'll PM you regarding the 27th.