2021 North Dakota RE Market Forecast
Friends,
I'm interested in hearing your thoughts on the ND real estate market in 2021. In my area (Minot) single family homes can still be found at reasonable prices and rent well. I'm cashing flowing $300+ on the two I have currently. I close on my 3rd next week and it projects to do even better. However, multi-family deals seem to be expensive, overdeveloped and in short supply on the MLS. I'm optimistic that Air Force base upgrades (North) and the Trinity hospital development (South) will create a positive growth trend over the course of the next 5+ years. This year I am seeing estimates of 8% appreciation in the zip codes I own property in.
I am expanding my radius to find a good multi family or small apartment deal, but have no idea how to evaluate the more rural areas. Bismarck looks to be pretty expensive and Williston/Dickinson I worry about due to the current politics surrounding fossil fuels. Grand Forks/Fargo are a bit beyond my reach.
Any other thoughts/strategies for your neck of the woods this year?
-Matt
I'll be there
@Matthew Rogers I'll be there as well as one or two additional investors.
I think that I will make it.
Hello everyone,
It's great to finally see a thread of inspired investors in ND, with interest in Minot and Bismarck. I was shocked when I recently got into real estate and found that there weren't too many social groups available.
I would be highly interested in going to a meetup and I'd love to hear how this previous one on the 12th went.
Thank you,
-Warren Shope
@Warren Shope III
Hey Warren, great to see a new face! I would define our group as more of West/Central ND Investor group. It's rather informal as of now, but I forsee it picking up more steam this year.
Peers consist of 0~50+ unit property owners ranging from SFH's, 12-Plex Multifamily, Mixed-Use commercial, and so on.
I intend to host our next meeting in Garrison as It's between Minot and Bismark, and we have the perfect building for a meetup!
@Otto Kinn
Thank you for the reply, and sounds great! I will be there and will bring any other investors who are also interested.
Is there interest in a FB group? Using social media should attract some new members as not everyone knows about BiggerPockets. I am excited to start networking with everyone in this forum and to see the business that comes from it.
If you can connect with me on when that meeting is or the process of setting it up, it would be highly appreciated.
Thanks
-Warren Shope
Hi all,
I am a new investor as well and am interested in joining the meetups. I am from Bismarck and am purchasing my first investment property. Looking forward to hearing when the next meetup is.
Thanks,
Nels
I’m in! Let’s set one up in March. @Otto Kinn I like the Garrison idea a lot.
Good morning ~ my husband and I are investors from the Bismarck, ND area. We would be excited to join the next meetup as well if it works in our schedule. We have a variety of rental units in Bismarck, Mandan, and soon to be Beulah.
@Otto Kinn That day won't actually work for me. I could do the following Wednesday March 24th if that would work for everyone?
@Otto Kinn I could do either 17th or 24th. What time are you thinking?
March is looking tough for me. I don't think I'll be able to do it this month. My wife just picked up her license and we are trying to iron out child care now that she and I are both working.
Consensus lies on March 24th, The link to attend is here: https://www.biggerpockets.com/...
I'm hopping onto this thread as an out of state investor researching small M/F in North Dakota - targeting Fargo and would love some input from the North Dakota investor group. Other areas of growth or stability? Thanks in advance for any feedback
@Gloria Grotjan
Hello, Minot is a pretty good city with fair amounts of growth due to the Air Force base here. Constantly has new airmen showing up and a lot of them starting their lives here.
I'm interested in multi family homes in Grand Forks. Any insight on that area?