Multifamily in Minneapolis St Paul metro

[Bowman Klinkenberg]

I've noticed an uptick in multifamily properties going for sale in Fridley, MN. Does anyone have a feel for what areas of the Minneapolis/St Paul metro are growing or have good indicators to buy? What resources would folks recommend for learning about buy and hold multifamily selection criteria?

[Amber Gonion]

I don’t think Fridley is anything special right now. Most of our properties are in the North metro and I I like Fridley and would not exclude Fridley from potential cities. I think is has more to do with the fact that there are a lot of rental properties in Fridley and the market is showings signs of slowing. Hence a slight inventory increase and some geographic luck is producing a lot of properties there.

I am not a the sky is falling person thinking the bubble is about to pop, but a healthy correction is likely in my opinion in the next year.