Grand Rapids STR investor

[Kurt Devlaeminck]

Hey guys! 

I'm new here. I'm a buy and hold investor from Grand Rapids, MI. I've lived in San Francisco and Chicago, but prefer the medium-sized midwestern cities. I'm a Graphic Designer/Illustrator that is looking to become a full-time real estate investor. We bought our first STR near Lake Michigan in February. We have one season under our belts with airbnb and VRBO. Looking for more STRs and possibly LTRs in Grand Rapids. I'm glad to help with any questions about my GR. Sending out good vibes to the BR community!

[Kurt Devlaeminck]

Quote from @Marshall Leipprandt:

@Kurt Devlaeminck Hey Kurt, I'm from Michigan originally and the area between GR and Traverse City is my favorite part of the state. I split my time between Florida and SoCal now, with the occasional trips back to MI to see family, but I similarly have an LTR and some STRs. 

How has your experience been so far with your STR near Lake Michigan? Do you self-manage? Have you had issues finding a good team (cleaner, handyman, HVAC, lawn maintenance, etc?). We self-manage our rentals but we're in areas near large cities that have ample providers for just about anything we need done at our properties. We also own in warm climates currently so don't have many of the considerations that we would have up in MI.

I've considered looking into properties near Lake Michigan, but have been focusing more on FL and CA as of late. Would love to hear about how you manage your rentals and your thoughts on West Michigan as a long-term play for a STR investor.

Hey Marshall,
We've had a good experience so far. We have been self managing since we're a little over an hour away and wanted to see how hard it was to self-manage. We do have a cleaning service though that help us with the turn around and does the laundry as well. I come every week to check on things and mow the lawn and any other landscaping that needs to happen. We have a lot of trees, a wildflower garden over our septic hump, outdoor shower and fire pit that I like to keep stocked with firewood. 

Overall, it has not been a lot of work from week to week. I've had a couple of faucet leaks and a hot water heater that I needed to replace, but it is manageable. I'm hoping to pick up 1-2 next year near it. So far, the hardest parts are finding trades that will travel to our spot since it's in between two small-medium beach towns.

I personally think that Michigan and the midwest surrounded by the Great Lakes will be looked at as a great investment especially 10-20 years from now.

How are you funding your projects? How are you finding them and the areas that you invest in?