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Old 03-24-2010, 06:33 PM
 
5 posts, read 9,482 times
Reputation: 10

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Hello,
We are a young couples in our mid 30s who are looking to buy our 1st invement property. The hope is that we'll be able to rent the property for the next 10 years or so and then sell it when our child gets to college.

Given we have some family in Michigan, we were considering Michigan as a place to invest our money in. We want to buy properties in stable areas like closer to Univeristy or major hospitals or booming towns that we can get sure rental income with a decent cash flow (note: we want to stay away from 'run down' areas though one can find homes for lot less). Can some one family with Michigan please give us your thoughts on which areas you think we should consider buying our first rental unit in please ?
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Old 03-24-2010, 07:35 PM
 
358 posts, read 1,063,505 times
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South Haven, near the beach, big bucks summer rentals.
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Old 03-24-2010, 11:21 PM
 
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Any of the coastal cities. Holland, Grand Haven, Saugatuck. As for Metro, Downtown Birmingham. Lots of young professionals looking for upscale housing without the obligation to buy
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Old 03-25-2010, 06:06 AM
 
Location: Loving life in Gaylord!
4,120 posts, read 8,902,635 times
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Quote:
Originally Posted by M032387 View Post
Any of the coastal cities. Holland, Grand Haven, Saugatuck. As for Metro, Downtown Birmingham. Lots of young professionals looking for upscale housing without the obligation to buy
Mo is right. Any nice city on almost any of our great lakes will always draw the people.
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Old 03-25-2010, 10:20 AM
 
Location: Hernando, FL
749 posts, read 2,439,586 times
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I was always impressed with the Lovell St. area and the neighborhoods directly east of Western Michigan University's football stadium. Downtown Kalamazoo, Bronson Hospital, and WMU are all within walking/bike ride distance.

A lot of nice quality constructed older 2-story homes that have been renovated to 4-6 unit college apts. Well kept and well manicured lawns, it's a nice area. I have an in-law that does maintanence at a larger 50 unit property a little further east and there is a lull in rental activity for a short while during summer but when the students come back, it's a 100% rented.

Economywise, K-zoo holds it's own compared to the rest of Michigan and has the presence of Pizer going for it to.
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