North Minneapolis

[Munira Hassan]

Does anyone have experience in owning rental property in North Minneapolis Minnesota. If so how was your experience being a landlord. North Minneapolis has a bad reputation but should that stop me from investing? I know there are always risks involved in any investment. 

Any thoughts you have on this location is appreciated. 

[Jon Loca]

I think it really depends on the area of north you buy. I would recommend looking on the Minneapolis crime map to get an idea of what the different neighborhood are like. If you end up in a class D neighborhoods I would expect to get familiar with the section 8 program. But I think there are a lot of good neighborhoods in north, though they won't be selling at the discount you'd see in the bad parts of north. I'm actually buying, rehabbing, and renting a property in north with my father close to 53rd and Fremont. So I'll be able to tell you much better in 3 months. However, though the rent returns may be better you can bet appreciation will be much lower, so I think the decision plays into your financial strategy as well