Rochester, MN · Member since 2017 · 1 post · 1 vote
Hello,
I'm looking to start real estate investing and the market I currently live in (San Francisco, CA) is too expensive. I am originally from SE Minnesota, go back several times a year, and have family in the industry there (construction, painting, and plumbing). I'm interested to learn more about the single-family rental unit market there and open to any advice, assistance, etc.
@Tim Swierczek. Hi there, I’m new to investing and would love to connect and chat about MN if you have time. Looking forward to hearing from you. All the best Sandra
i am in seattle and grew up ne iowa and started investing back in rochester this year myself but in multifamily. i would recommend contacting Dylan Carty at Reality Growth, he is a great realtor and has a great team and deep network in the industry, has sent me several pocket and off market deals. i can't post his contact info on this forum but a quick search of his name will bring him up. best of luck!
I live in North Central Iowa and have property in Mason City. A few multi-family in Mason city I need to get into multi's. Very similar market to Rochester. Not much appreciation but you can cashflow and get in cheap
Hi Drew! I’m in the same boat as you — live in East Bay and am looking at MN because of family connections. I’m mostly looking at the “south of the river” areas of Scott and Dakota county. (I’m actually flying out to the area on Wednesday.)
I’ve heard some comments about cap rates near the Twin Cities being pretty tepid (although I haven’t looked into that much myself, as my area of comfort would be MN suburbs, which doesn’t have much in the way of multi family units). I’m hoping to learn a little more in the coming months. I’m actually mostly interested in flipping a couple (family with construction experience will benefit me) and then maybe doing multi family in another Midwest market (...unless I get something off market... strategy tbd!)
Anyway, would love to talk MN if you ever want to — although I’m certainly beginning level! I did just pick up a little house in Shakopee that I’m using as a second home for a bit and that I intend to get some work done on (basement finishing, etc.).
@Raquel D. if you haven't worked on a flip before I would caution against a distance flip. It is hard enough to find a flip house in the area let alone manage it from a far. If you have a local construction company you can trust but flipping is not really a passive investment.
@Tim Swierczek would be a good connection for you, he knows the market and invests himself.
@Raquel Doheny. I know this post said you’re a newbie but it’s super old so thought I’d reach out to see how it all went with the MN market for you. Looking forward to hearing from you. All the best Sandra
@Tim Swierczek. Hi there, I’m new to investing and would love to connect and chat about MN if you have time. Looking forward to hearing from you. All the best Sandra