Good day BiggerPockets!
My twin brother and I are very interested in building our property portfolio in Minneapolis, MN. We are currently owner occupants of a N.E. duplex. We purchased the duplex a year ago and have been looking for a second one since. We would like to stay in the N.E. market, but it has been a battle acquiring a second one. Because we are new to the game, inventory being low and the demand high- we are having a hard time competing.
We have been listening to BiggerPockets podcasts for about 2 months now and we are ready to see where a little active participation can take us. If anyone has advise on the Minneapolis market, investment realtor contacts or want to say hi, please feel free to contact us!
Scott and Drew Hoefler
Hello! I'm not in the Minneapolis market, I'm up north in Fargo. I wish I were down there so I could do more networking. There is a number of meetups you can find online at meetup.com to find other who do what you do. I know nothing more than you do of the market down there but if you're interested in a bit further up north let me know!
@Scott Hoefler Welcome. You look to be in the right area (NE Mpls). I own a duplex near that area. Just an FYI prices are inflated. That area was ideal about 2-4 years ago but now like you said there is low inventory on top of inflated prices. I would say look a bit further out.
Thank you Brock! I think you hit it on the head. N.E. has seen a dramatic inflation even since the purchase of our current property last year. We will broaden our search parameters. Are you looking to purchase any additionals?
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