First Grand Rapids Rental Unit

[Jerry Westhoff]

Hello,

I am looking to purchase my first owner occupied rental property in the downtown Grand Rapids area.I would like some opinions from other Grand Rapids natives.The property I am looking at is located just south of Wealthy st.You can view the property here http://www.trulia.com/property/3199391082-845-Logan-St-SE-Grand-Rapids-MI-49506

What do you think about this location?I have rented in the downtown area for almost 5 years so I know the area very well.Currently the location that this property is in is not good.The crime rates are higher than properties north of wealthy.If I purchased this property I would live in the back house and rent out the front house.I am estimating rents for the front house to be around $800.

I plan on holding this property forever and continue to add properties to my portfolio.I feel like the wealthy street area is really growing and it is only a matter of time until this small pocket neighborhood known as Baxter will catch up.

Opinions?

Thanks,

-Jerry