What have you noticed in the Minneapolis market?

Question

Hello fellow BP investors!

I am returning to the Minneapolis market in a few months to begin my journey as a buy and hold investor (I have spent a few years abroad). I have been analyzing what properties I can for a bit now and picking up on bits of info but not being in the market I am limited. I know the market is hot right now but having not seen what developments have taken place in the past couple of years I am not sure what areas are strong and weak for investing. I have visited sites that show me important stats but obviously being physically in the market (or having someone there for you) is best. My question is this: What market trends have you noticed taking place in the metro area that may indicate good investing opportunities?

Thank you in advance for taking the time to read this. I look forward to seeing your replies and hopefully meeting you in person in a few months!

Tucker

Tucker Walser · Answer

@Tim Swierczek Alright thank you Tim. I will reach out next spring. Happy holidays!

Amber Gonion · Answer

@Tucker Walser right now we are in the seasonal low inventory for the holidays. We are looking for a jump in inventory with prices remaining steady for the next 6-12 months. With prices already at max and buyer fatigue inventory should increase slightly but pressures from the low cost of money will not significantly alter pricing.

Tim Swierczek · Answer

@Tucker Walser yes, you can just send me a BP PM

Tucker Walser · Answer

@Jordan Moorhead Thank you for the info Jordan. Nice to have a better idea of where things are and where they are likely to go. I am going to BRRRR. Are you an investor as well as an agent?

Tucker Walser · Answer

@Tim Swierczek Thank you for the friendly reply Tim. I appreciate the recommendation. I would enjoy meeting you and getting to know you when I get back. I will be back early spring. Would it be best for you if I just send a direct message to you over BP when I am back?

Jordan Moorhead · Answer

@Tucker Walser housing stock is extremely low. We have 2.3 months supply of listings and around a 3% vacancy rate for rentals. Minneapolis is looking to increase housing stock through the 2040 plan, but I haven't seen that materialize yet. I know people making money in all types of rentals. What strategy would you pursue?

Tim Swierczek · Answer

@Tucker Walser I think that’s complicated. I’d recommend getting face to face with lots of investors when you get back. You can get lots of different opinions that way. There are many meet ups and other ways to connect with local investors. I’m always up for coffee.

What have you noticed in the Minneapolis market?

What have you noticed in the Minneapolis market?

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