2-4 unit property that actually makes sense - Minneapolis
Hello Biggerpocketers, I have been vigilantly searching for a multifamily property to purchase as my first home in the Minneapolis area for the past 7 months and have found very few that actually make sense by standard metrics. These prices are absurd! Ideally my first purchase would be a 3 or 4 unit property that would reduce my monthly payments to make it much easier to save money for future properties. I have seen a handful of triplex and fourplex properties on MLS but can’t seem to get an offer accepted on the ones that are not overpriced by $50-100k. I actually had an accepted offer on a triplex that was going to work out super well but the deal fell apart - a story for another time. Any suggestions for how to acquire a nice 3 or 4 unit property? Seems like off market is the way to go. So far have tried MLS, Craigslist, Facebook marketplace, bigger pockets ads, direct mail (~200 letters with 1 semi-solid response), cold calling rental ads, and attending local meet ups to try to meet investors. Any advice would be much appreciated! If you live in the area I would love to meet up and chat!