Interested in Investment Properties? Pyxis Realty is Here to Help!

Have you ever looked at the rental listings on the West Michigan real estate market and thought to yourself that you should be a landlord? Do you enjoy putting in some “sweat equity” when you purchase a home? Do you like the idea of being your own boss or having a secondary source of income to supplement your main income stream? If you answered yes to any of these questions, investing in the Grand Rapids real estate market may be a great option for you!

As home values have been increasing over the last few months, rental prices in the area have also been increasing steadily. Many major apartment complexes are reporting vacancy rates in the single digits, meaning that even as demand for housing is on the rise, the number of available units on the rental market is dwindling. For those who are willing to upgrade older homes, which can vary from replacing windows to fixing or updating furnaces or even updating electrical wiring, poorly-cared for homes can be a great way to take moderately-sized nest egg and turn it into a potential lifelong income stream.

From single family homes and duplexes to multi-unit houses and house to apartment conversions, there are as many options for potential landlords as there are for potential homeowners looking to own their own homes. Some people even purchase and rent out condominium units in some of the hottest buildings in downtown Grand Rapids, passing on all fees to the renter and paying off the mortgage on the investment property each month. Whatever kind of rental situation most appeals to you, whether it is renting rooms to college students or whole houses to established families, there are certainly properties on the West Michigan market sure to fit the bill.

Of course, working as a landlord can be a 24/7 job, requiring on-call assistance in the case of emergencies, like a broken pipe or a non-working furnace, but that can also be outsourced to an experienced property manager if the owner chooses not to directly work with their tenants or in the units doing repairs. The team at Pyxis Realty is here to help with everything from selection the best potential rental units for your personal preferences to obtaining inspections and even assisting you in securing trustworthy property management.

If you're ready to make the leap into rental units and investment properties, be sure to give the dedicated, experienced team at Pyxis Realty a call today! The educated professionals on the Pyxis Realty team will do everything in their power to help you realize your ambitions and find the perfect rental property for your particular situation. Give us a call today or send an email to get the ball rolling. Right now is the best time to get started on a renovation project, just before the spring and summer rental rush! Whether you're hoping to own and rent a single, multi-unit building or to slowly become a real estate tycoon, the team at Pyxis Realty is happy to help make your dreams reality!