Live in Minneapolis, invest in Rochester?
Anyone here live in Minneapolis/St. Paul area and invest in Rochester B&H (specifically multifamily)? I'm considering Rochester real estate for my next deal, and I wanted to get experienced investors thoughts on the following:
- How do you think about property management? Do you treat it like it's a 100% remote market or are you still checking on the property in person a few times a year?
- How competitive is Rochester's market vs. the Twin Cities' market?
- Any neighborhoods to avoid?
- What kind of vacancy rates and property management fees should one expect?