Laundry machines are an amenity that most Grand Rapids tenants are looking for, whether they’re private washers and dryers in their own homes and units or a communal laundry space in a multi-family building. If you want to find good tenants quickly and maximize the amount of your rental value, you’ll want to provide laundry facilities in your rental properties.
On-site managers are not always necessary and in Grand Rapids, there’s no specific requirement that you have one in place when you’re renting out apartments and other units in multi-family properties. However, there are benefits to having one on-site.
When you invest in Grand Rapids rental property, you want to maximize your ROI and ensure a profitable investment experience.
Every investor has different goals for their rental properties. Hopefully, you have a written set of metrics and criteria that help you evaluate when your property isn’t performing the way you expect it to.
Don’t rely only on rental income. While your cash flow is one important way to make money with real estate, there are other ways to increase the value of your portfolio and the stability of your wealth.
Timelines can be tricky, especially in a market as competitive as the one we’re currently navigating. Here’s what you need to know when you’re conducting a 1031 exchange in Grand Rapids.
If you’re a homeowner moving out of the Grand Rapids area, you will have to decide what to do with your home. In this market, selling can seem like the obvious solution. Inventory is far lower than demand and the market is competitive. However, there may be some good reasons not to sell your home right now.
The real estate market has proven itself to be incredibly resilient over the last year or two, and it demonstrates over and over again why investing in rental property is such a good idea. Smart investors know that when you buy and hold real estate, you have remarkable opportunities to earn consistent cash flow and build a steady and impressive strategy for long-term ROI.
Anyone who owns rental property wants to earn as much rental income as possible. It’s part of any good investment strategy.
Management fees should be competitive and they should also provide a lot of value. The cost of property management depends on the home you need managed, the services you require, and the company you choose to work with.