Updated over 4 years ago on . Most recent reply
Hello! New to MN REI
Hello All! I am new to real estate investing and would love to connect with other investors. I live in the Minneapolis suburbs, and am serious about starting my real estate investment portfolio this year. I would love to hear other people's thoughts on how the MN investment markets are looking to them? What are the strongest markets? Minneapolis, St. Paul, specific suburbs, Saint Cloud, etc? I am confused about where to look. I am also open to out of state (via turnkey providers?). Is this too risky for a newbie investor? I might not be able to afford buying my first rental here, especially in the nice areas around Mpls/St. Paul/suburbs ($100K house is what I'd want to start with). From the little amount of research I've done, I feel like people's propensity to rent in MN is lower compared to other states. Here they just want to buy, and that seems to be the trend the past 5 years, vacancy rates creeping up. Unlike Arizona for example. Would love to connect with other investors (local or otherwise) to get some thoughts around that. Thanks!
Most Popular Reply
Hi @Shilpa Matlock!
So far (about 6 months), things are going as expected. No issues have come up so far that would effect the returns and I expect this to continue. In terms of buy and hold real estate though, 6 months is not a long period of time so I always recommend speaking with some investors who have held a property for a longer period of time as well as investors who have made multiple investments to get their experience as well.
My plan right now is to continue saving some more capital and make another turnkey investment with RTR towards the end of 2021. I am currently on track for this as long as no unforeseen personal expenses come up.