Where would you suggest getting started in real estate investing, greater Chicago land or greater Grand Rapids?
I’m currently in Chicago but we’re considering relocating to western Michigan. I’ve done a few flips in the past and I’m planning on getting back into real estate investing. With the economy the way it is, I will probably start by focusing on rental property (apartments and other multi-unit properties) for cash flow rather than flipping but would like to flip again when the economy allows for it.
According to local sources in Chicago and Michigan, homes sales in April 2010 increased – 47% in Chicago and 40% in Michigan from April 2009. This is certainly attributed to the fact that the government tax credits had a deadline of April 30,2010, so what remains to be seen is if these numbers will remain stable in the upcoming months. Ultimately, you’ll have to research the specific areas in which you are looking to buy to make a sound decision. Either way, I think buying and holding investment property, as you intend to do, is a great way to ease your way back into the real estate investing market, especially given our current economy.
$74000 Net Profit Fixing & Flipping REOs – 1339 Sherborn Ct. Rochester Hills, MI
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