Episode 78: MN Real Estate Developer Uses Grants to Build Luxury Co-Living

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On this week's episode of the podcast we talk with Alex Zikmund.  Alex got his start in real estate the same way many investors do—by buying a house in college for himself and his friends to live in. But once those first rent checks came in, he was hooked. He went on to build a portfolio of single-family rentals in his college town before moving back to the Twin Cities with bigger ambitions. His first ground-up development in St. Paul’s West 7th neighborhood came with major challenges, but it ultimately became a turning point in his career.

Today, Alex focuses on building unique co-living properties designed for rent-by-room living, including a standout duplex with 12 private suites, each with its own bathroom and shared common spaces. By leveraging affordable housing grants and tax credits, he’s been able to make these projects financially viable while delivering a product that stands out in the market. In this episode, we break down how he structures these deals, what went wrong (and right) on his first project, and why co-living could be a powerful strategy for investors in the Twin Cities.

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