New member from Boston area - investing in Minneapolis, MN

New Member Introductions
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New member from Boston area - investing in Minneapolis, MN

David BarnettPro Member
Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes

Hello Everyone:

I wanted to say hello and introduce myself to BiggerPockets.  I'm a new real estate investor part time and a full time Accountant.  I'm living (own a condo) and working in Cambridge, investing in buy and hold properties in Minneapolis, MN.  To date, I've purchased one condo which is on the rental market in East Isle/Uptown, close to Lake Calhoun.  My realtor and I have been scouring the Minneapolis market and we're in the process of potentially securing additional properties (if the price is right).  I'm looking to purchase 2-3 properties and/or units (open to duplexes as well) each year for the next three to five years to build out my portfolio of real estate holdings.

I'm looking forward to connecting with local investors in the Minneapolis area or investors that would be open to a potential partnership deals down the road.  I'm also open to connecting with Boston area investors.

Thank you!

David

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  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    10y

    Welcome to BP David and good luck investing!

    Podcast Guest on Show #121
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  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y

    Thank you very much, Andrew!

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  • Amber Gonion
    Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes
    10y
    Welcome, let me know if you need anything.
    0Reply
  • Nicholas Harris
    Flipper/Rehabber · Lakeville, MN · Member since 2016 · 20 posts · 3 votes
    10y
    Welcome! I'm also in the Twin Cities area. Lake Calhoun is a great area. Good luck to you.
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  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y
    Originally posted by @Amber Gonion:

    Welcome, let me know if you need anything.

     Thank you, Amber!

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  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y
    Originally posted by @Agnes M.:

    Hi David, I can help with your funding needs for fix and flip deals as well as rental deals, wholesale, multifamily and commercial funding. I also sometimes get profitable properties for sale to investors, directly from the seller. 

    For your Minneapolis investment, I am currently getting Profitable with good equity properties for sale, for  fix and flip or fix to rent investments in Minneapolis and St Paul. There is also funding available for them up to 100% funding on the purchase and rehab, so let's connect, I can help. Please don't hesitate to email me if you have any questions.

     Thank you, Agnes!

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  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y
    Originally posted by @Nicholas Harris:

    Welcome! I'm also in the Twin Cities area. Lake Calhoun is a great area. Good luck to you.

     Thank you, Nicholas!

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  • Account Closed
    Real Estate Agent · Burnsville, MN · Member since 2016 · 7 posts · 2 votes
    10y

    Hi David, 

    I'm a Realtor in the Twin Cities. If you'd like to increase the number of boots you have on the ground. Let's connect to figure out how I can help you grow your portfolio. 

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  • Taylor JohnsonPro Member
    Real Estate Agent · Cambridge, MA · Member since 2016 · 58 posts · 6 votes
    10y

    Hi David, 

    Welcome to BP! if you are interested in expanding your portfolio in the Boston area feel free to reach out. I would be happy to help in anyway I can. 

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  • Chris Luksha
    Contractor · Jaffrey, NH · Member since 2016 · 102 posts · 14 votes
    10y
    Welcome to the forums David Barnett Way to go whole hog into a non local to you market. I love the guts to jump like that. Keep us involved in how you're doing. I can't offer real estate help or boots on the ground as I am new to all this myself but certainly use the boards here. Good luck in your journey. Chris
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  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y

    @Chris Luksha Thank you very much for the welcome and for the compliment.  Frankly, the Boston market is generally way too hot for me.  Minneapolis has a much lower barrier/cost of entry into the market (not to mention I have a network in place in Minnesota).  I'm looking forward to continuing and building it one property at a time.

    @Taylor Johnson Thank you very much for the offer.  I'm not sure if the Boston market is the right market for me.  It's really really hot and prices are very high.  I'm concerned about the high prices, unless your company offers a way for me as an individual investor to pool with other investors to earn a decent rate of return.  I'd be open to discussing if you'd like to discuss!

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  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    10y

    @David Barnett

    Welcome to Bigger Pockets.

    0Reply
  • Taylor JohnsonPro Member
    Real Estate Agent · Cambridge, MA · Member since 2016 · 58 posts · 6 votes
    10y

    @David Barnett I work with many different investors and developers and I have my own personal investments as well. I would be happy to discuss different avenues of investing in this extremely competitive market. Feel free to inbox me and I am happy to help.  

    0Reply
  • Jason Baron
    Investor · Quincy, MA · Member since 2016 · 11 posts · 5 votes
    10y

    Welcome!

    0Reply
  • Sam Steadman
    Real Estate Agent · Minneapolis, MN · Member since 2015 · 129 posts · 63 votes
    10y

    Welcome @David Barnett,

    If you want to get a deal done and use creative searches and ways of finding properties, make sure to shoot me a PM. 

    I work with investors throughout Minneapolis. Would love to help.

    Sam

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  • Jay LohnBusiness Member
    Real Estate Agent & Investor · Champlin, MN · Member since 2014 · 179 posts · 43 votes
    10y

    @David Barnett

    Welcome to BP and happy hunting!

    Lohn/Paulno Property Management, LLC53 Reviews
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  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y

    Thank you, @Jay Lohn

    0Reply
  • Patrick Wheeler
    Real Estate Agent · Boston, MA · Member since 2015 · 319 posts · 80 votes
    10y

    Welcome to BP David! The Boston market is definitely very competitive right now, but there are always deals to be had.

    0Reply
  • David BarnettPro Member
    OP
    Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
    10y

    Thank you, @Patrick Wheeler.  Unfortunately, the cost of entry into the Boston market, plus it being hot are two strong negatives (at least in my mind).  I'm not opposed to being a hard money lender, probably just not interested in buy and hold in the Boston area (not enough value there).

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