All Forum Posts by: Randy Charboneau

Welcome to BP Matt!  Grand Rapids is an exciting market to get involved with!  Hope to hear more from you in the future!

@Jeff Shutich Welcome to BP!!  Grand Rapids is an exciting place to invest right now for sure!  Multi family properties are a great way to get into the investment income flow!   We are experiencing rapid escalation of pricing in several areas of this city and its important to understand which areas and why.  If you intend to invest here, please take some time and do research on your investment targets.   Finding deals can be achieved with the right knowledge.  Feel free to add me to your network for any advice you might need.

Sure thing @Jake VandenAkker.  Text or call the number in my signature anytime!

@Jake VandenAkker Hello Jake!  Investing in Grand Rapids is a little different than it was in the past.  Dawn's plan to invest in those zip codes was a well known stable plan and avoiding the SE city areas was a common theme among investors.  That has all changed.   The hottest markets are actually in the SE portions of the City right now.  We have some historical districts that have always done well but there are some fringe areas surrounding these districts that have really taken off but still contain opportunities for massive cash returns.  Hit me up with a message and I'll be happy to share some specifics and let me know if I can help further.  Good luck with your investing! 

@Jackie Runals @Lauren Reed Welcome to BP!  Grand Rapids is an exciting place to invest right now and is attracting investors from all over the planet!!  There is a lot of profit available in this market for the savvy investor but it takes an expert to navigate it.  Our inventory has never been lower and pricing mistakes are being made constantly by ill-informed seller's and Realtors!   Let me know if you would like some help or advice and I'll be happy to lend a hand!   You might want to join the RPOA (Rental Property Owners Association) here in Grand Rapids as well.   Even if you don't plan on buying and holding a property, there are many contractors and flippers that belong that can be great sources of knowledge for you.  They meet every Friday morning for breakfast and its a good networking opportunity!

@Ben Durwood  Hi Ben!  Here's my take.  Because water is the only utility that sticks with the house regardless of who pays, you want control over that since its your property.  @Tim VandenToorn stated his Property Management company does this and its wise to do so regardless of whether the tenant will be financially responsible for reimbursing you.  Most multi-unit homes in the area include water in the rent payments since water is rarely split going to a property and its not fair to "split the bill" when one tenant will end up taking 2 hour showers all the time.   If you have Laundry facilities in your units, keep in mind the water bills for those properties will be much higher and you'll have to plan accordingly.

Welcome to BP Joe!  If your real estate investing intends to focus on rental properties and becoming a landlord, I recommend you join the RPOA (Rental Property Owners Association) here in Grand Rapids.  They are a wealth of information and have several meetings a month where you can hang with other investors, contractors, realtors, etc. and gain hands on knowledge of many issues that we've all been through and avoid making rookie mistakes!   If I can be of any help, please reach out to me and I'll be happy to lend a hand.  

Welcome to BP Chad! I'm also an agent here in the area. I specialize in Foreclosures (HUD, REO, TAX, Etc) so if I can help you out with questions please let me know! Grand Rapids is a very unique market right now and there are opportunities everywhere if you know where to look!

Welcome to BP James! I'm an experienced agent in the area so please feel free to add me to your network and let me know if I can be of assistance. My specialty is foreclosure properties (I list both HUD and Tax Foreclosures) and working with investors so I might be a nice fit for your team. I know some good property management companies in the area too so I can hook you up with a referral if you need it.

FORBES - BEST PLACES TO INVEST IN REAL ESTATE 2016

This is why.  That article caused a FIRE STORM of investors to flock to Grand Rapids and buy up lower priced single family homes left and right.   Property managers have never been busier here.  We had a huge influx of out of state and out of country money come into this area and have a bunch of absentee landlords.   The funny thing is, because of the housing shortage, the rental market is very strong and we have extremely low vacancy as well.  Grand Rapids has never really gotten into the skyscraper condo market and its a very friendly place for immigrants.  We have a very diverse demographic population here and it continues to grow.   There is no bubble here.  This area is lagging far behind the rest of the nation.  What is happening is we are starting to catch up and people are buying on the upswing.