If you haven’t considered investing in Grand Rapids real estate, now is the time to do it.
This is one of the hottest real estate markets in the country, and whether you’re a new investor considering your first purchase or an experienced owner who is growing a successful real estate portfolio, this is the place to be.
Local rental property owners understand the advantages the local market offer, and out-of-state investors are increasingly realizing there’s money to be made in Grand Rapid rental homes.
There are dozens of great reasons to invest right now, and today we’re giving you the highlights.
The Grand Rapids Economy is Growing
The pandemic has left everyone feeling a bit uncertain, but there’s good news in Grand Rapids – the economy is performing and it’s growing. We have great new jobs numbers and a robust economy with a lot of opportunity. Investors will find that the tenant pool is strong, thanks to a high employment rate. There are good-paying jobs here, and industries such as healthcare and technology are driving the increased demand for highly skilled workers.
Cash Flow and ROI: The Numbers Work
The Grand Rapids real estate market doesn’t have a high point of entry like many other markets throughout the country. If you were going to invest in Chicago, Los Angeles, or San Francisco, you’d need a lot of capital and a strong credit portfolio. In Grand Rapids, you could buy 10 duplexes for what you’d spend on one property in one of the larger markets. There’s a better value in buying rental property here. You’re going to get a lot more for your money, and it’s going to be less expensive to leverage those investments.
Rental Values are Stable
Not only will you be able to find a great deal when you’re looking for investment opportunities, you’ll be able to budget for consistent rental payments. Right now, an investor can spend $100,000 on an investment property and rent that home out for $1,500 a month. That’s going to deliver some strong cash on cash returns and a healthy cap rate.
Considering your potential ROI, the cost of real estate in Grand Rapids and the surrounding areas is incredibly low. Property owners will enjoy a stable rental market with comfortable rent ranges and a good pool of tenants.
Diverse Grand Rapids Neighborhoods
When you’re looking to buy, you’ll have a lot of options that fit any investment portfolio. You can purchase single-family homes or multi-family properties or some combination. There’s new construction and established neighborhoods. There’s even opportunities in commercial real estate.
Investors can experiment with diversifying their real estate portfolios or add assets that cannot be found in other markets. Whether you’re looking for residential or commercial real estate, you’ll be able to find something that fits your investment goals.
As you can see, we’re excited about the opportunities available to investors in Grand Rapids. If you’d like to talk about some good options that fit your portfolio, contact us at Short South Realty Group. We can help with every part of the process, from acquisition to Grand Rapids property management.