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John Smeltzer
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  • Investor
  • from Gibsonia, PA
  • Member since Jan 22, 2017

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John Smeltzer's profile image
John Smeltzer
Pro Member
  • Investor
  • from Gibsonia, PA
  • Member since Jan 22, 2017
John Smeltzer
Pro Member
  • Investor
  • Gibsonia, PA
23
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44
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Real Estate Investment Market in Minnesota (Bloomington and Rochester)

John Smeltzer
Pro Member
  • Investor
  • Gibsonia, PA
Posted Jul 15 2023, 09:58

I'm looking to explore new markets and wondered about Minnesota.  Is Minnesota generally still a good market for real estate investing and more specifically, what about Bloomington and Rochester?  Would appreciate any insight current investors are willing to share.

Bryon Andrews's profile image
  • Real Estate Agent
  • from Saint Paul, MN
  • Member since Jul 24, 2018

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Bryon Andrews's profile image
  • Real Estate Agent
  • from Saint Paul, MN
  • Member since Jul 24, 2018
Bryon Andrews
  • Real Estate Agent
  • Saint Paul, MN
66
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123
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Bryon Andrews
  • Real Estate Agent
  • Saint Paul, MN
Replied Jul 15 2023, 12:44

Hey John, I have done well in Minnesota as well as Western Wisconsin. I think an investor can be successful in almost any market depending on what/who they have for a team in that market to help them be successful. Reach out if you want to discuss more about Minnesota!

  • Real Estate Agent Wisconsin (#110141) and Minnesota (#40860934)

  • 715-892-4596
Matt Humphrey's profile image
Matt Humphrey
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  • from Rochester, MN
  • Member since Jan 9, 2018

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Matt Humphrey
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  • from Rochester, MN
  • Member since Jan 9, 2018
Matt Humphrey
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  • Rochester, MN
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Matt Humphrey
Pro Member
  • Rochester, MN
Replied Jul 17 2023, 10:24
Quote from @John Smeltzer:

I'm looking to explore new markets and wondered about Minnesota.  Is Minnesota generally still a good market for real estate investing and more specifically, what about Bloomington and Rochester?  Would appreciate any insight current investors are willing to share.


 Hey John, Rochester, MN has been a great market for investors in recent years. With the Mayo Clinic being the major draw, it has become a VERY transient market and a great place to have rentals. Feel free to send me a message directly if you have any questions about the area. 

Matt

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Tim Swierczek's profile image
Tim Swierczek
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  • from Saint Paul, MN
  • Member since Sep 6, 2016

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Tim Swierczek
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  • from Saint Paul, MN
  • Member since Sep 6, 2016
Tim Swierczek
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  • Saint Paul, MN
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Tim Swierczek
Pro Member
  • Lender
  • Saint Paul, MN
Replied Jul 19 2023, 15:54

I have a few clients in both Rochester and Bloomington.  I see Rochester as a growth opportunity with population and new construction yet to peak. Bloomington is already built out and has very good rental demand. You might find Rochester as an easier market to find a deal worth doing, but in this market, you will likely be competing for a property with other investors in either city.

  • Lender Arizona (#103522), Colorado (#103522), New Jersey (#103522), Florida (#103522), Wisconsin (#103522), Minnesota (#103522), Tennessee (#103522), and Texas (#103522)

  • Tim Swierczek Team @ Gold Star Mortgage
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Replied Aug 3 2023, 16:27

@Tim Swierczek @Matt Humphrey @Bryon Andrews

Tim, Matt, and Bryon,

Are any of you familiar with the Austin, Minnesota area, regarding investment properties?  I see that homes and rents are on the lower end compared to the metro.  Is Austin, Minnesota a growing city? Is it easy to find renters in this area?

Thanks for any insight that you have.

Bryon Andrews's profile image
  • Real Estate Agent
  • from Saint Paul, MN
  • Member since Jul 24, 2018

User Stats

123
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66
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Bryon Andrews's profile image
  • Real Estate Agent
  • from Saint Paul, MN
  • Member since Jul 24, 2018
Bryon Andrews
  • Real Estate Agent
  • Saint Paul, MN
66
Votes |
123
Posts
Bryon Andrews
  • Real Estate Agent
  • Saint Paul, MN
Replied Aug 4 2023, 09:46
Quote from @Michael Houston:

@Tim Swierczek @Matt Humphrey @Bryon Andrews

Tim, Matt, and Bryon,

Are any of you familiar with the Austin, Minnesota area, regarding investment properties?  I see that homes and rents are on the lower end compared to the metro.  Is Austin, Minnesota a growing city? Is it easy to find renters in this area?

Thanks for any insight that you have.


 Hey Michael, I have some family down in the Adams, MN (They do all their shopping in Austin). I'll send you a message and we can chat about Austin.

  • Real Estate Agent Wisconsin (#110141) and Minnesota (#40860934)

  • 715-892-4596
Tim Swierczek's profile image
Tim Swierczek
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  • Lender
  • from Saint Paul, MN
  • Member since Sep 6, 2016

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Tim Swierczek's profile image
Tim Swierczek
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  • Lender
  • from Saint Paul, MN
  • Member since Sep 6, 2016
Tim Swierczek
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  • Saint Paul, MN
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Tim Swierczek
Pro Member
  • Lender
  • Saint Paul, MN
Replied Aug 4 2023, 11:27
Quote from @Michael Houston:

@Tim Swierczek @Matt Humphrey @Bryon Andrews

Tim, Matt, and Bryon,

Are any of you familiar with the Austin, Minnesota area, regarding investment properties?  I see that homes and rents are on the lower end compared to the metro.  Is Austin, Minnesota a growing city? Is it easy to find renters in this area?

Thanks for any insight that you have.


 I do not have a good feel for the Austin market. Are you local to that market? I would look at the rents and determine if they are significant enough for long-term viability.  In most small towns, rental real estate deteriorates because the rent received does not justify remodeling. Repairs and remodeling tend to be marginally lower in small towns. Sometimes, it can be higher if there are not readily accessible supplies.  Rents, on the other hand, can be half.  If materials cost the same or more in a small town and labor is similar to slightly cheaper you have an environment that will lead to long-term deterioration.  Please reach out if you would like to chat more about it.

  • Lender Arizona (#103522), Colorado (#103522), New Jersey (#103522), Florida (#103522), Wisconsin (#103522), Minnesota (#103522), Tennessee (#103522), and Texas (#103522)

  • Tim Swierczek Team @ Gold Star Mortgage
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