Ultimate Grand Traverse County Real Estate Investing Guide for 2024
Overview
Grand Traverse County Real Estate Investing Market Overview
For ten years, the yearly increase of the population in Grand Traverse County has averaged . The national average for this period was with a state average of .
During the same ten-year cycle, the rate of increase for the total population in Grand Traverse County was , in comparison with for the state, and throughout the nation.
Currently, the median home value in Grand Traverse County is . In contrast, the median value for the state is , while the national median home value is .
The appreciation tempo for homes in Grand Traverse County during the past decade was annually. The annual appreciation tempo in the state averaged . Nationally, the average yearly home value growth rate was .
The gross median rent in Grand Traverse County is , with a statewide median of , and a US median of .
Grand Traverse County Real Estate Investing Highlights
Grand Traverse County Top Highlights
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#top_highlights_3
Strategies
Strategy Selection
In order to determine if a market is desirable for real estate investing, first it is necessary to determine the investment strategy you are going to follow.
We’re going to provide you with advice on how to view market indicators and demographics that will affect your distinct type of real estate investment. This can enable you to identify and evaluate the community intelligence found in this guide that your strategy needs.
There are area fundamentals that are significant to all types of real estate investors. These factors consist of crime statistics, highways and access, and regional airports among others. Besides the fundamental real estate investment market criteria, various kinds of real estate investors will search for different location advantages.
If you want short-term vacation rental properties, you’ll focus on sites with active tourism. Flippers have to know how promptly they can unload their renovated real property by looking at the average Days on Market (DOM). If this illustrates sluggish residential real estate sales, that location will not get a prime classification from investors.
The unemployment rate should be one of the first metrics that a long-term investor will need to look for. The unemployment stats, new jobs creation numbers, and diversity of employers will illustrate if they can expect a reliable source of renters in the market.
Beginners who cannot choose the preferred investment method, can contemplate piggybacking on the background of Grand Traverse County top property investment mentors. Another interesting possibility is to take part in one of Grand Traverse County top property investment groups and attend Grand Traverse County real estate investing workshops and meetups to hear from various professionals.
Now, let’s consider real estate investment plans and the most effective ways that they can research a proposed real property investment site.
Active Real Estate Investment Strategies
Buy and Hold
If a real estate investor acquires an investment property for the purpose of retaining it for an extended period, that is a Buy and Hold approach. While it is being held, it’s typically being rented, to increase profit.
At any period down the road, the investment asset can be unloaded if capital is needed for other purchases, or if the real estate market is exceptionally strong.
A realtor who is among the top Grand Traverse County investor-friendly realtors will give you a thorough examination of the market where you’ve decided to invest. Below are the factors that you need to examine most closely for your long term investment strategy.
Factors to Consider
Property Appreciation Rate
This indicator is vital to your asset site determination. You should find a solid yearly growth in investment property values. Long-term property appreciation is the underpinning of the whole investment strategy. Locations without increasing property market values won’t satisfy a long-term investment profile.
Population Growth
A decreasing population means that over time the total number of residents who can lease your property is decreasing. This is a forerunner to reduced rental prices and real property values. With fewer people, tax incomes deteriorate, impacting the quality of public services. You need to see improvement in a market to think about buying a property there. Similar to property appreciation rates, you want to discover dependable yearly population increases. Increasing cities are where you will find increasing real property values and strong rental rates.
Property Taxes
Property taxes will chip away at your profits. You are looking for a location where that expense is manageable. Real property rates seldom get reduced. High real property taxes indicate a weakening environment that won’t keep its current citizens or appeal to additional ones.
Some pieces of property have their market value erroneously overvalued by the county assessors. If this circumstance happens, a business on the directory of Grand Traverse County property tax appeal companies will present the situation to the county for review and a conceivable tax value reduction. Nonetheless, if the matters are complex and involve a lawsuit, you will need the involvement of the best Grand Traverse County property tax dispute lawyers.
Price to rent ratio
Price to rent ratio (p/r) is computed by dividing the median property price by the annual median gross rent. A location with low lease rates has a high p/r. This will enable your asset to pay back its cost within an acceptable time. You do not want a p/r that is low enough it makes acquiring a house cheaper than leasing one. If renters are turned into buyers, you may wind up with unoccupied rental properties. You are looking for communities with a reasonably low p/r, certainly not a high one.
Median Gross Rent
Median gross rent is a reliable barometer of the durability of a city’s lease market. Consistently expanding gross median rents reveal the type of robust market that you need.
Median Population Age
Median population age is a portrait of the magnitude of a city’s workforce which correlates to the size of its lease market. Look for a median age that is approximately the same as the age of the workforce. An aging populace will be a burden on municipal revenues. Larger tax bills can be a necessity for markets with a graying populace.
Employment Industry Diversity
If you’re a Buy and Hold investor, you look for a diversified employment base. An assortment of industries dispersed over numerous businesses is a stable job base. If one business category has issues, most employers in the area should not be hurt. When your renters are stretched out among varied employers, you shrink your vacancy liability.
Unemployment Rate
If unemployment rates are severe, you will see a rather narrow range of desirable investments in the community’s housing market. It suggests possibly an unreliable revenue stream from existing tenants currently in place. High unemployment has a ripple impact throughout a community causing decreasing transactions for other employers and declining salaries for many jobholders. Companies and people who are contemplating relocation will look in other places and the market’s economy will deteriorate.
Income Levels
Income levels are a guide to communities where your potential clients live. Your estimate of the area, and its particular portions you want to invest in, needs to incorporate an assessment of median household and per capita income. Expansion in income signals that renters can make rent payments promptly and not be scared off by gradual rent bumps.
Number of New Jobs Created
The amount of new jobs appearing continuously helps you to forecast an area’s prospective economic outlook. Job creation will bolster the renter pool increase. The creation of new openings keeps your occupancy rates high as you purchase more rental homes and replace current tenants. New jobs make a city more desirable for relocating and purchasing a residence there. Higher need for workforce makes your property value increase before you need to resell it.
School Ratings
School reputation is a crucial element. Without strong schools, it is challenging for the area to attract additional employers. Strongly evaluated schools can attract additional families to the region and help hold onto existing ones. An inconsistent supply of renters and homebuyers will make it hard for you to obtain your investment goals.
Natural Disasters
With the primary goal of liquidating your property subsequent to its appreciation, the property’s physical condition is of the highest priority. That is why you will want to avoid places that often experience environmental disasters. Nonetheless, you will always have to protect your investment against catastrophes normal for most of the states, including earthquakes.
To insure property costs generated by tenants, search for assistance in the directory of the best Grand Traverse County rental property insurance companies.
Long Term Rental (BRRRR)
A long-term wealth growing strategy that includes Buying an asset, Refurbishing, Renting, Refinancing it, and Repeating the procedure by spending the cash from the refinance is called BRRRR. If you intend to increase your investments, the BRRRR is a proven strategy to utilize. It is required that you are qualified to receive a “cash-out” refinance for the plan to be successful.
The After Repair Value (ARV) of the asset has to total more than the complete purchase and refurbishment expenses. The investment property is refinanced using the ARV and the difference, or equity, is given to you in cash. This money is reinvested into another investment property, and so on. You add income-producing assets to the portfolio and rental revenue to your cash flow.
Once you have accumulated a large collection of income creating assets, you may prefer to hire someone else to handle all operations while you get repeating income. Locate good Grand Traverse County property management companies by using our directory.
Factors to Consider
Population Growth
The rise or decline of the population can illustrate if that region is appealing to rental investors. If you discover robust population expansion, you can be confident that the area is attracting potential renters to the location. Relocating companies are attracted to increasing areas providing job security to families who move there. An expanding population constructs a certain base of tenants who will survive rent increases, and a strong property seller’s market if you want to liquidate your investment properties.
Property Taxes
Real estate taxes, ongoing upkeep expenditures, and insurance specifically affect your profitability. Steep property taxes will negatively impact a real estate investor’s income. Excessive property taxes may signal an unreliable city where costs can continue to rise and should be treated as a warning.
Price to Rent Ratio
Price to rent ratio (p/r) is a market indicator that shows you how much you can predict to charge as rent. The rate you can collect in a community will define the amount you are able to pay depending on the number of years it will take to repay those funds. You want to find a low p/r to be comfortable that you can price your rents high enough to reach acceptable profits.
Median Gross Rents
Median gross rents illustrate whether a site’s lease market is solid. You should find a market with repeating median rent expansion. You will not be able to realize your investment goals in a location where median gross rents are going down.
Median Population Age
Median population age in a good long-term investment environment must show the usual worker’s age. You’ll find this to be accurate in cities where workers are migrating. If you find a high median age, your stream of tenants is declining. This is not promising for the forthcoming financial market of that city.
Employment Base Diversity
A greater amount of businesses in the market will improve your prospects for better profits. If people are concentrated in a couple of dominant employers, even a slight interruption in their operations could cause you to lose a lot of renters and expand your liability substantially.
Unemployment Rate
You will not be able to reap the benefits of a stable rental cash flow in a community with high unemployment. The unemployed will not be able to purchase goods or services. This can create too many layoffs or reduced work hours in the area. Current renters may become late with their rent in these circumstances.
Income Rates
Median household and per capita income level is a useful tool to help you navigate the cities where the tenants you are looking for are located. Historical income records will reveal to you if income increases will enable you to mark up rental fees to hit your income predictions.
Number of New Jobs Created
The vibrant economy that you are searching for will create a high number of jobs on a consistent basis. A larger amount of jobs mean a higher number of tenants. This enables you to purchase additional rental real estate and replenish current empty units.
School Ratings
School reputation in the community will have a significant influence on the local residential market. Highly-rated schools are a requirement of businesses that are looking to relocate. Business relocation creates more renters. Homeowners who come to the area have a beneficial effect on property values. For long-term investing, be on the lookout for highly endorsed schools in a potential investment location.
Property Appreciation Rates
Real estate appreciation rates are an essential component of your long-term investment scheme. You want to see that the odds of your investment appreciating in value in that community are good. You don’t want to spend any time inspecting locations with unimpressive property appreciation rates.
Short Term Rentals
Residential properties where tenants live in furnished spaces for less than a month are called short-term rentals. Short-term rental owners charge a steeper rate per night than in long-term rental business. Because of the increased number of tenants, short-term rentals need more frequent care and tidying.
Typical short-term renters are vacationers, home sellers who are buying another house, and business travelers who require more than a hotel room. Any homeowner can convert their home into a short-term rental unit with the assistance made available by virtual home-sharing websites like VRBO and AirBnB. Short-term rentals are deemed as a smart way to embark upon investing in real estate.
Short-term rental units involve engaging with occupants more repeatedly than long-term rentals. This results in the landlord being required to constantly handle protests. Think about protecting yourself and your assets by adding one of property law attorneys in Grand Traverse County MI to your network of experts.
Factors to Consider
Short-Term Rental Income
First, figure out how much rental income you must earn to achieve your desired return. Learning about the usual amount of rental fees in the area for short-term rentals will allow you to pick a preferable market to invest.
Median Property Prices
You also have to determine the budget you can spare to invest. Scout for markets where the purchase price you count on is appropriate for the current median property worth. You can calibrate your location search by studying the median price in specific sub-markets.
Price Per Square Foot
Price per sq ft can be affected even by the look and layout of residential properties. When the designs of available properties are very different, the price per square foot may not provide a precise comparison. Price per sq ft may be a quick method to analyze different communities or residential units.
Short-Term Rental Occupancy Rate
A closer look at the city’s short-term rental occupancy levels will show you whether there is an opportunity in the region for additional short-term rentals. An area that requires additional rental housing will have a high occupancy level. Low occupancy rates signify that there are already enough short-term rental properties in that community.
Short-Term Rental Cash-on-Cash Return
Cash-on-cash return is a method to determine the profitability of an investment venture. Take your projected Net Operating Income (NOI) and divide it by your investment cash budget. The percentage you get is your cash-on-cash return. High cash-on-cash return demonstrates that you will recoup your money faster and the investment will be more profitable. When you borrow a fraction of the investment and use less of your own money, you will get a higher cash-on-cash return.
Average Short-Term Rental Capitalization (Cap) Rates
This metric compares rental property worth to its annual return. In general, the less money an investment property will cost (or is worth), the higher the cap rate will be. When investment real estate properties in a city have low cap rates, they usually will cost more money. Divide your expected Net Operating Income (NOI) by the investment property’s value or purchase price. The percentage you will receive is the investment property’s cap rate.
Local Attractions
Short-term rental apartments are preferred in cities where tourists are drawn by activities and entertainment venues. This includes top sporting tournaments, youth sports competitions, schools and universities, huge auditoriums and arenas, fairs, and amusement parks. Popular vacation sites are situated in mountain and beach points, near lakes, and national or state parks.
Fix and Flip
To fix and flip a property, you should get it for less than market price, conduct any necessary repairs and enhancements, then dispose of the asset for after-repair market price. Your assessment of repair spendings has to be correct, and you should be capable of buying the unit below market worth.
Examine the values so that you know the accurate After Repair Value (ARV). The average number of Days On Market (DOM) for properties sold in the community is important. Selling the property immediately will help keep your costs low and secure your returns.
So that homeowners who need to liquidate their house can conveniently find you, showcase your status by utilizing our list of the best cash real estate buyers in Grand Traverse County MI along with top property investment companies in Grand Traverse County MI.
In addition, look for property bird dogs in Grand Traverse County MI. These specialists concentrate on skillfully discovering good investment prospects before they are listed on the market.
Factors to Consider
Median Home Price
The region’s median housing value will help you find a good community for flipping houses. If prices are high, there might not be a stable reserve of fixer-upper homes available. You must have cheaper properties for a profitable fix and flip.
When your examination shows a fast weakening in property market worth, it might be a signal that you’ll uncover real estate that meets the short sale criteria. You’ll find out about potential opportunities when you join up with Grand Traverse County short sale processing companies. Learn how this works by studying our explanation — What Are the Steps to Buying a Short Sale Home?.
Property Appreciation Rate
Are real estate values in the region on the way up, or on the way down? You’re eyeing for a steady increase of local real estate market rates. Rapid price growth may indicate a value bubble that isn’t reliable. When you are buying and selling swiftly, an uncertain environment can hurt your efforts.
Average Renovation Costs
Look thoroughly at the potential renovation costs so you will understand if you can achieve your targets. The way that the local government processes your application will affect your venture as well. If you need to have a stamped set of plans, you will have to include architect’s charges in your budget.
Population Growth
Population data will inform you whether there is an increasing necessity for residential properties that you can produce. Flat or decelerating population growth is an indicator of a poor environment with not an adequate supply of buyers to validate your investment.
Median Population Age
The median residents’ age can also tell you if there are qualified home purchasers in the market. The median age mustn’t be lower or more than the age of the average worker. People in the local workforce are the most stable real estate purchasers. Aging individuals are getting ready to downsize, or relocate into age-restricted or retiree neighborhoods.
Unemployment Rate
While checking a city for investment, search for low unemployment rates. The unemployment rate in a future investment city needs to be lower than the national average. A positively strong investment location will have an unemployment rate less than the state’s average. In order to acquire your repaired property, your clients need to have a job, and their customers as well.
Income Rates
Median household and per capita income are an important indicator of the stability of the housing market in the location. The majority of people who buy residential real estate need a home mortgage loan. Their wage will show the amount they can afford and if they can buy a house. The median income statistics tell you if the community is beneficial for your investment efforts. Particularly, income increase is critical if you plan to expand your investment business. Building costs and housing prices go up over time, and you want to be sure that your target clients’ income will also climb up.
Number of New Jobs Created
The number of employment positions created on a regular basis reflects whether wage and population growth are sustainable. Homes are more easily sold in a community with a robust job market. Fresh jobs also draw employees arriving to the location from other districts, which further reinforces the real estate market.
Hard Money Loan Rates
Investors who work with renovated homes often employ hard money loans instead of traditional mortgage. This strategy lets investors negotiate desirable projects without hindrance. Locate private money lenders in Grand Traverse County MI and analyze their rates.
Anyone who needs to know about hard money loans can learn what they are and how to employ them by studying our article titled How Do Private Money Lenders Work?.
Wholesaling
In real estate wholesaling, you search for a house that real estate investors would think is a good deal and enter into a sale and purchase agreement to purchase the property. A real estate investor then ”purchases” the purchase contract from you. The property is bought by the real estate investor, not the wholesaler. You’re selling the rights to the contract, not the house itself.
Wholesaling depends on the assistance of a title insurance firm that’s okay with assigned contracts and comprehends how to proceed with a double closing. Look for wholesale friendly title companies in Grand Traverse County MI that we collected for you.
Learn more about how wholesaling works from our definitive guide — Real Estate Wholesaling Explained for Beginners. When you choose wholesaling, add your investment company on our list of the best wholesale property investors in Grand Traverse County MI. This way your likely audience will see your offering and reach out to you.
Factors to Consider
Median Home Prices
Median home prices in the area will inform you if your designated price level is achievable in that city. A place that has a good supply of the marked-down investment properties that your investors want will display a below-than-average median home price.
A quick downturn in property worth may be followed by a large selection of ‘underwater’ residential units that short sale investors search for. Wholesaling short sales often delivers a collection of unique perks. But, be aware of the legal risks. Discover more about wholesaling short sale properties with our exhaustive instructions. Once you want to give it a go, make certain you have one of short sale attorneys in Grand Traverse County MI and foreclosure law firms in Grand Traverse County MI to confer with.
Property Appreciation Rate
Property appreciation rate enhances the median price data. Some investors, such as buy and hold and long-term rental investors, specifically want to see that residential property market values in the market are going up consistently. A declining median home price will illustrate a poor rental and home-buying market and will eliminate all types of real estate investors.
Population Growth
Population growth information is crucial for your intended contract purchasers. When they find that the population is multiplying, they will decide that additional housing units are a necessity. There are many individuals who lease and more than enough clients who buy houses. If a city is declining in population, it doesn’t need new housing and investors will not look there.
Median Population Age
A vibrant housing market prefers people who start off renting, then moving into homebuyers, and then moving up in the residential market. For this to happen, there needs to be a reliable employment market of potential tenants and homebuyers. A place with these features will have a median population age that matches the working person’s age.
Income Rates
The median household and per capita income in a reliable real estate investment market have to be growing. Income improvement demonstrates an area that can keep up with lease rate and home purchase price increases. Real estate investors avoid cities with declining population income growth figures.
Unemployment Rate
The community’s unemployment rates will be a crucial consideration for any targeted wholesale property buyer. Late lease payments and lease default rates are worse in areas with high unemployment. Long-term investors who rely on uninterrupted lease payments will do poorly in these areas. Investors can’t rely on renters moving up into their properties when unemployment rates are high. Short-term investors won’t take a chance on being cornered with real estate they can’t resell immediately.
Number of New Jobs Created
Learning how frequently new job openings are created in the community can help you see if the real estate is located in a stable housing market. New residents settle in a community that has fresh job openings and they look for a place to reside. This is good for both short-term and long-term real estate investors whom you rely on to purchase your wholesale real estate.
Average Renovation Costs
Improvement spendings will be important to most investors, as they typically buy inexpensive distressed houses to rehab. When a short-term investor flips a property, they want to be prepared to dispose of it for a higher price than the whole expense for the acquisition and the improvements. The less expensive it is to rehab a unit, the more attractive the community is for your prospective purchase agreement clients.
Mortgage Note Investing
Acquiring mortgage notes (loans) pays off when the mortgage note can be bought for less than the remaining balance. By doing so, the purchaser becomes the mortgage lender to the first lender’s debtor.
Loans that are being paid on time are considered performing notes. Performing notes bring repeating revenue for you. Non-performing loans can be rewritten or you could buy the property at a discount by conducting foreclosure.
Ultimately, you may grow a selection of mortgage note investments and be unable to oversee the portfolio alone. When this happens, you could choose from the best loan servicing companies in Grand Traverse County MI which will designate you as a passive investor.
When you decide that this plan is a good fit for you, insert your name in our list of Grand Traverse County top real estate note buying companies. Joining will make you more visible to lenders offering lucrative opportunities to note investors like yourself.
Factors to consider
Foreclosure Rates
Low foreclosure rates are a sign that the area has investment possibilities for performing note investors. Non-performing note investors can cautiously take advantage of places that have high foreclosure rates as well. However, foreclosure rates that are high may indicate a slow real estate market where liquidating a foreclosed unit will likely be difficult.
Foreclosure Laws
Professional mortgage note investors are thoroughly well-versed in their state’s regulations concerning foreclosure. Some states use mortgage documents and others use Deeds of Trust. A mortgage requires that you go to court for authority to start foreclosure. You merely need to file a public notice and begin foreclosure steps if you’re working with a Deed of Trust.
Mortgage Interest Rates
Note investors acquire the interest rate of the mortgage loan notes that they obtain. Your investment profits will be affected by the interest rate. Regardless of which kind of mortgage note investor you are, the note’s interest rate will be critical to your forecasts.
The mortgage loan rates set by traditional mortgage lenders are not identical everywhere. Loans provided by private lenders are priced differently and can be more expensive than conventional loans.
Profitable mortgage note buyers routinely review the rates in their community offered by private and traditional mortgage firms.
Demographics
A market’s demographics stats help note investors to streamline their work and effectively use their resources. It’s critical to determine if enough people in the city will continue to have good employment and wages in the future.
A young expanding community with a vibrant employment base can contribute a consistent revenue flow for long-term investors looking for performing notes.
The identical region could also be beneficial for non-performing note investors and their end-game strategy. If non-performing mortgage note investors need to foreclose, they’ll need a strong real estate market when they liquidate the REO property.
Property Values
As a note investor, you must look for deals with a cushion of equity. When the value isn’t higher than the mortgage loan balance, and the mortgage lender has to start foreclosure, the collateral might not realize enough to payoff the loan. The combined effect of loan payments that lessen the loan balance and yearly property market worth growth increases home equity.
Property Taxes
Usually, mortgage lenders accept the property taxes from the homeowner every month. This way, the mortgage lender makes sure that the taxes are taken care of when due. If the homeowner stops paying, unless the lender takes care of the taxes, they will not be paid on time. Property tax liens leapfrog over all other liens.
If a municipality has a history of rising property tax rates, the combined home payments in that market are steadily expanding. Homeowners who have trouble making their loan payments may drop farther behind and eventually default.
Real Estate Market Strength
Both performing and non-performing note investors can be profitable in a vibrant real estate environment. Since foreclosure is a necessary component of note investment strategy, increasing real estate values are important to locating a profitable investment market.
A growing real estate market may also be a profitable area for making mortgage notes. It’s a supplementary stage of a mortgage note investor’s career.
Passive Real Estate Investment Strategies
Syndications
In real estate, a syndication is a collection of investors who gather their money and experience to purchase real estate assets for investment. The venture is structured by one of the partners who presents the opportunity to the rest of the participants.
The coordinator of the syndication is called the Syndicator or Sponsor. The syndicator is in charge of handling the purchase or development and creating income. They’re also responsible for distributing the promised income to the other partners.
The rest of the participants are passive investors. They are promised a certain percentage of the net income after the purchase or development conclusion. These investors don’t reserve the right (and thus have no duty) for making transaction-related or investment property management determinations.
Factors to consider
Real Estate Market
Picking the kind of market you want for a profitable syndication investment will compel you to decide on the preferred strategy the syndication project will execute. The earlier chapters of this article discussing active investing strategies will help you determine market selection criteria for your future syndication investment.
Sponsor/Syndicator
If you are weighing being a passive investor in a Syndication, be certain you look into the transparency of the Syndicator. They should be an experienced real estate investing professional.
The Syndicator might or might not invest their money in the company. But you want them to have skin in the game. The Sponsor is supplying their availability and expertise to make the project successful. In addition to their ownership percentage, the Syndicator may be owed a payment at the beginning for putting the syndication together.
Ownership Interest
Each stakeholder has a percentage of the company. Everyone who invests capital into the company should expect to own a larger share of the company than those who don’t.
When you are injecting cash into the deal, expect priority payout when net revenues are distributed — this increases your results. Preferred return is a portion of the money invested that is distributed to capital investors out of net revenues. Profits over and above that amount are disbursed among all the partners based on the amount of their interest.
If the asset is ultimately sold, the owners receive a negotiated percentage of any sale profits. In a dynamic real estate market, this may add a significant enhancement to your investment returns. The company’s operating agreement explains the ownership structure and how participants are dealt with financially.
REITs
A REIT, or Real Estate Investment Trust, means a business that invests in income-producing real estate. REITs were invented to empower everyday investors to buy into properties. The average investor is able to come up with the money to invest in a REIT.
Investing in a REIT is termed passive investing. Investment liability is diversified across a group of properties. Shares in a REIT can be unloaded whenever it is convenient for the investor. Something you can’t do with REIT shares is to determine the investment real estate properties. Their investment is limited to the assets selected by the REIT.
Real Estate Investment Funds
A Real Estate Investment Fund is a mutual fund that possesses stocks of real estate businesses. Any actual real estate is owned by the real estate firms rather than the fund. This is an additional way for passive investors to spread their investments with real estate avoiding the high initial expense or exposure. Fund members may not get ordinary distributions the way that REIT members do. The worth of a fund to an investor is the expected appreciation of the price of its shares.
You can find a real estate fund that specializes in a specific type of real estate firm, such as multifamily, but you cannot propose the fund’s investment assets or locations. Your decision as an investor is to choose a fund that you rely on to manage your real estate investments.
Housing
Grand Traverse County Housing 2024
In Grand Traverse County, the median home value is , at the same time the state median is , and the United States’ median value is .
The average home market worth growth rate in Grand Traverse County for the recent ten years is per year. In the state, the average yearly value growth percentage within that timeframe has been . Throughout that period, the national year-to-year home value growth rate is .
In the rental property market, the median gross rent in Grand Traverse County is . The state’s median is , and the median gross rent all over the US is .
Grand Traverse County has a home ownership rate of . The rate of the total state’s residents that are homeowners is , compared to throughout the nation.
of rental homes in Grand Traverse County are tenanted. The tenant occupancy percentage for the state is . The national occupancy level for leased housing is .
The percentage of occupied homes and apartments in Grand Traverse County is , and the percentage of vacant houses and apartment buildings is .
Real Estate Trends
Grand Traverse County Home Appreciation Rates
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Grand Traverse County Home Value
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Grand Traverse County Median Home Value
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Grand Traverse County Median Gross Rent
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Grand Traverse County Price To Rent Ratio Over Time
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Grand Traverse County Home Ownership
Grand Traverse County Rent & Ownership
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Grand Traverse County Rent Vs Owner Occupied By Household Type
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Grand Traverse County Occupied & Vacant Number Of Homes And Apartments
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Grand Traverse County Household Type
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#household_type_11
Grand Traverse County Property Types
Grand Traverse County Age Of Homes
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Grand Traverse County Types Of Homes
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Grand Traverse County Homes Size
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#homes_size_12
Marketplace
Grand Traverse County Investment Property Marketplace
If you are looking to invest in Grand Traverse County real estate, our Investment Property Marketplace can become your indispensable tool in your investing business. To help you easily find the best off-market deals in the Grand Traverse County area, we created a nationwide investor-friendly online platform. Use it to shop for lucrative off-market properties for sale according to your specific buying criteria.
Unlike other real estate listing websites, our marketplace’s interface is particularly designed for investors. Besides the purchase price, you can see other, essential to investors, key indicators such as: rehab costs and ARV, potential profit, FSBO, or realtor-assisted deal, and others. To get started, visit our marketplace and search for Grand Traverse County investment properties for sale.
Grand Traverse County Investment Properties for Sale
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Financing
Grand Traverse County Real Estate Investing Financing
If you are looking for a loan to finance investment property purchase, rehab or ground up construction in Grand Traverse County MI, easily get quotes from multiple lenders at once and compare rates.
Fill out our quick online real estate financing application form to receive multiple quotes for your preferred type of loan from our preferred Grand Traverse County private and hard money lenders.
Grand Traverse County Investment Property Loan Types
- Rehab Loans
- Fix and Flip Loans
- Bridge Loans
- Asset Based Loans
- Cash Out/Refinance Loans
- Transactional Funding
- Transactional Hard Money Loans
- Private Money Loans
- New Construction Loans
Population
Grand Traverse County Population Trends
The current population of Grand Traverse County is .
The population’s growth rate throughout the most recent decade has been . The state saw a population growth rate over the same ten-year time frame of . The United States’ growth rate during the same term was .
This equates to a yearly whole population growth rate of , versus the total state’s yearlong rate of . The yearly growth rate for the US is .
The population’s median age in Grand Traverse County is .
Grand Traverse County Population Over Time
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#population_over_time_24
Grand Traverse County Population By Year
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#population_by_year_24
Grand Traverse County Population By Age And Sex
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#population_by_age_and_sex_24
Economy
Grand Traverse County Economy 2024
In Grand Traverse County, the median household income is . The median income for all households in the entire state is , as opposed to the country’s figure which is .
This corresponds to a per capita income of in Grand Traverse County, and for the state. The population of the country as a whole has a per capita amount of income of .
The employees in Grand Traverse County earn an average salary of in a state whose average salary is , with average wages of across the country.
In Grand Traverse County, the rate of unemployment is , whereas the state’s rate of unemployment is , as opposed to the US rate of .
All in all, the poverty rate in Grand Traverse County is . The state poverty rate is , with the national poverty rate at .
Grand Traverse County Residents’ Income
Grand Traverse County Median Household Income
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#median_household_income_27
Grand Traverse County Per Capita Income
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#per_capita_income_27
Grand Traverse County Income Distribution
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#income_distribution_27
Grand Traverse County Poverty Over Time
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#poverty_over_time_27
Grand Traverse County Property Price To Income Ratio Over Time
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#property_price_to_income_ratio_over_time_27
Grand Traverse County Job Market
Grand Traverse County Employment Industries (Top 10)
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#employment_industries_(top_10)_28
Grand Traverse County Unemployment Rate
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#unemployment_rate_28
Grand Traverse County Employment Distribution By Age
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#employment_distribution_by_age_28
Grand Traverse County Average Salary Over Time
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#average_salary_over_time_28
Grand Traverse County Employment Rate Over Time
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#employment_rate_over_time_28
Grand Traverse County Employed Population Over Time
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#employed_population_over_time_28
Schools
Grand Traverse County School Ratings
The public education curriculum in Grand Traverse County is kindergarten to 12th grade, with elementary schools, middle schools, and high schools.
The Grand Traverse County public school setup has a high school graduation rate.
Grand Traverse County School Ratings
https://housecashin.com/investing-guides/investing-grand-traverse-county-mi/#school_ratings_31