ann arbor condo market

[Simon Ruiz]

Hello all... My brother will be transferring to the university of Michigan to obtain his masters degree and it gave me an idea.... I have been looking into getting into real estate and its a hard jump to make considering that I live in California..  Michigan has prices that seem more reasonable however, even Ann Arbor seems a bit pricey but the condos in the area are a bit more affordable... Does anyone here have rental condos in Ann arbor? how has been your experience so far? I know its a college town and I have seen some houses and condos outside the area that seem interesting too.. Just trying to get an inside scoop at the moment for now.... 

[Tony Brooks]

If I were you and knowing the market as I do ..I would invest in the neighboring city YPSILANTI. You will have a better overall ROI in that market. I have investments in both AA and Ypsi you would def want to be seasoned investor before touching the Ann arbor market. Run your numbers but from my experience it doesn't make since to invest at the current market value for homes in AA. Do you plan on buying rental or Flipping? Also there is really low inventory in AA so trying to find a deal in AA is another obstacle you will have to deal with. I am sure some people can make it work but for your FIRST deal I would def suggest you finding a really solid investment and that will be tough in AA.