Michigan market for first time investments

[Anthony C. Albano]

Doing some research and it seems like the state of Michigan seems like a great market for investments. Just wondering if anyone has any thoughts. Thanks.

[Julie Haveman]

We invest in Grand Rapids area. The prices are going up, but so is the rent. What we were renting out for $700 4 years ago is going for $900 now.

[James Compton]

I have family in Michigan and am thinking about investing there. Can you tell me why you think it's a good place to invest? That's the thing I can't wrap my head around. Understanding the rental market. I understand housing markets (I think anyways), but how do I know if I buy a house there will be a market to rent it?

[Jake Thomas]

@James Compton

Low vacancy rates, growing local economy, affordable home prices. 

Do your research and you will see. I am in W Michigan and the market for investors is still strong. Getting harder but still a good place to invest. 

[Account Closed]

Would be interesting to hear from any investors who invested in the city of Detroit itself. Midtown, Corktown, university district, highland park, some of those neighborhoods. A question to you guys who buy and rehab properties in the Metro area: when will the Detroit market get very hot for home buyers?

[Jeremy Verdusco]

It's already on the upswing in all areas you mention except Highland Park. I invest in the University District and Martin Park. I'm looking at Bagley and have seen nothing but rising prices since last fall. 

[Account Closed]

@Jeremy Verdusco

Wow, prices to stand still for so long can be upsetting. Is it typical for the local market?

[Ramon Huerta]

In Kalamazoo things are moving fast but still great deals out here.