Considering Brrrr in South Minneapolis from Hawaii
Aloha!
I have recently discovered BiggerPockets as I have been considering moving into real estate investment and am impressed by the quantity and quality of the information and contacts here.
My fiancé and I live on the island of Maui in Hawaii, are expecting our first child in September and are considering investing in Minneapolis, preferably South Minneapolis where she grew up and her parents live. Depending on how financing happens we may find we will need to save money for a year or so before we start making offers.
Generally speaking the Brrrr strategy on a single family home is the most appealing to me.
As I have been researching the area in light of real estate investment I came across this article-https://amp.mprnews.org/story/2018/05/22/twin-cities-houses-selling-at-breakneck-pace
This of course causes me some concern.
With the low inventory will it be especially difficult to find a good property from out of State and a first time investor?
What might I be able to do to help compensate for those weaknesses?
I am a carpenter and would have no problem doing/managing a rehab and feel quite comfortable in that area of investing.
Thanks for reading and I look forward to any responses.