Minneapolis, Saint Paul!

6 Replies

Hello all! I am a new member to BP and have been reading through forums, discussions, webinars......so much rich information here!

I am a first time home buyer that is in the market for my first owner occupied duplex/triplex in the Minneapolis or Saint Paul area (more so, Saint Paul). I plan to buy more duplexes in the future also. Just looking to gain more information, resources, and connections through this process!

Hello Ms. Qwee Parker
My name is Kantrell I live in Saint Paul and I am a first time homebuyer as well and I’m looking to get my real estate career started as well. Good luck on your venture and Maybe we can ask each other question which will only serve to grow our knowledge.

@Qwee Parker My number one piece of advice is to use a Realtor who either owns rental properties or specializes in rental properties.  I see many first timers use a standard Realtor and they make a bad choice because they do not get the guidance they need.  Let me know if you'd like to meet up and network.

Welcome to BP Qwee! I'm also new to investing and focused on multi-family in the Twin cities. I've gotten recommendations to check out meetup.com for some of the local multifamily investing groups and plan to do that soon.

Hey @Qwee Parker and @Kantrell Bland !

Welcome to BP. Saint Paul has tons of options for owner occupying small multi family. I’ve been working a lot over there recently with clients that want to live in the area.

I especially like west Saint Paul, west 7th, frogtown and south Saint Paul for those options. Let me know if you have any questions or just want to grab coffee!

@Jordan Moorhead thank you for your response. I have kept my eye in the neighborhoods of West Saint Paul so far, as I have heard good things about that area. Unfortunately I am not familiar with a lot of the other parts of Saint Paul. 

I definitely will keep that offer, thank you!

Hey @Qwee Parker

Welcome to the forums! It's good to know what you're looking for (2-4plexes), if you can do a 5% down then you'd qualify for Conventional loans. Sellers often prefer Conventional to FHA loans since there are fewer quality requirements to sell to the buyer (aka you)

Go get 'em!

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