Why Do You Invest in Minneapolis? (Testimonial for BP!)

4 Replies

BiggerPockets! I work at BP and I'm working on building a landing page for Minneapolis. Would anyone be willing to share why you choose to invest in the city? Why is it a great city for investors?

Minneapolis area is diverse economic area.  The average vacancy rate for the 16 county metro area according the St. Paul Pioneer press is  is about 0.4% (as of April 2019 2nd only to Akron OH).  The variety of industries keep the area less prone to economic downturns.  We have a diverse businesses community employing tenants with companies like Medtronic, Boston scientific, 3M, General Mills, Best buy, Target, Amazon, Us Bank, Ecolab, Mayo Clinic, and Cargill.  There are still plenty of properties available at reasonable prices.  Light rail construction is offering opportunities in various areas around the metro. 

This is a bit facetious, but I like to consider the Twin Cities an ultra-long-term investment in that it's a healthy, active population with a terrific quality of life that will be a very attractive relocation target to potential climate change refugees relocating from the coasts and the south in 50-100 years.

As Amber mentioned, I like the fact that there are a lot of blue chip companies that are in the Twin Cities.  In addition to these items, I've noticed over the past few years the Twin Cities metro really making strides for business development.  For example, over the past few years, the metro area has hosted the Super Bowl, the NCAA Final Four tournament, the Frozen Four (NCAA hockey) tournament, the X games and other events.  Overall, the transit system is pretty good, and it's quite affordable with people migrating to the Twin Cities.  

So I can write off trips to visit family and buy a retirement home on lake Minnetonka while I can still afford it. 

Although It does have relatively high property taxes and income tax. 

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