Michigan- Tri-Cities Good BRRRR Location?

Question

Considering looking at BRRRR opportunities in the Michigan area, specifically the Tri-Cities area. I am originally from the area (I left when I was very young) but have some exiting relationships in the real-estate and contracting world there for my "boots on the ground".

Does anyone have any experience or feedback on the market there or surrounding areas when it comes to rentals, current market, etc...

Looking at current listings there seems to be quite a few duplexes, tris, and quads in the area for attractive prices. Would really appreciate any local feedback from investors, realtors or others on the market out there. Thanks!

Tanya H. · Answer

Welcome, @David VanWert.  I've got a few properties in Bay City - one in the city proper and 2 in Bangor Township.  I think the townships have a bit better potential than the city.  The city can be a little difficult to deal with, especially for people out of town.  I'm from BC, with lots of relatives and friends, and it's been a challenge.  Let me know if you have any specific questions I could help with.

David VanWert · Answer

Thanks Tom, yes that the area I was speaking of. I'm not opposed to SFH's either starting the process of due diligence for the area. Would you have any local resources for rental comps, or even someone that knows the area and market well I could chat with, maybe an agent, maybe yourself :) Thanks!

Tom Bell · Answer

Tri-Cities - I assume you're talking about Saginaw, Bay City and Midland.  I am in that area and love the market.  I only have SFHs right now but I run a meetup with plenty of people that have multi-families in the area.  There are alot of people that rent in the area, but I guess it depends on what you're looking for exactly.  Much of the opportunity is in the C or D class housing and low income.  Like everywhere else seems to be, good deals are getting harder to find.  Each of these cities have their own rules for rentals so you have to be aware of some of the differences depending on where you find your deal.