San Francisco, CA · Member since 2017 · 115 posts · 29 votes
Hi I’m from California, looking to fix and flip or fix and hold properties out of state and I am curious to know what the Minneapolis/St Paul market is like. What’s been your experience there?
Hey Sasha! There are absolutely some good deals in this area. What type of investments are you looking into right now?
The Twin Cities (Mpls/St Paul) is an excellent place to invest. Probably it’s greatest strength is in its economy, which is behind only Chicago in the Midwest. But even further, the unemployment rate is something around 2.5% right now, which is well under the national average.
Second, PwC’s Emerging Trends in Real Estate Report lists the Twin Cities as being the number one place to invest in Multifamily residential in the US.
Third, the Minneapolis area has high wages, low vacancy, and higher-than-average appreciation. Job growth is high, the job market is stable, we’re home to many Fortune 500 companies, etc.
Fourth, education and safety has always been incredibly strong in Minnesota. Minnesota is often named the best state to raise a family, with Minneapolis taking the crown amongst US metropolitan cities numerous times in the past handful of years.
Also, we invented Juicy Lucy’s... Which may be one of our strongest selling points.
PM me if you want further information or insight about the better areas to invest, or conversely, areas to avoid. I’m not a realtor or anything but can help connect you with the right people. I currently work as an appraiser, so I have a fairly intimate knowledge of the area and will help in any way I can.
Hey Sasha! There are absolutely some good deals in this area. What type of investments are you looking into right now?
The Twin Cities (Mpls/St Paul) is an excellent place to invest. Probably it’s greatest strength is in its economy, which is behind only Chicago in the Midwest. But even further, the unemployment rate is something around 2.5% right now, which is well under the national average.
Second, PwC’s Emerging Trends in Real Estate Report lists the Twin Cities as being the number one place to invest in Multifamily residential in the US.
Third, the Minneapolis area has high wages, low vacancy, and higher-than-average appreciation. Job growth is high, the job market is stable, we’re home to many Fortune 500 companies, etc.
Fourth, education and safety has always been incredibly strong in Minnesota. Minnesota is often named the best state to raise a family, with Minneapolis taking the crown amongst US metropolitan cities numerous times in the past handful of years.
Also, we invented Juicy Lucy’s... Which may be one of our strongest selling points.
PM me if you want further information or insight about the better areas to invest, or conversely, areas to avoid. I’m not a realtor or anything but can help connect you with the right people. I currently work as an appraiser, so I have a fairly intimate knowledge of the area and will help in any way I can.
@Sasha Josephs- I moved from Salt Lake to start investing out here. It's a great market with tons of potential. It's one of the few growing cities where it's still cheaper to buy than to rent. It's not going to be quite as good for cash flow as somewhere like a Kansas City or Columbus Ohio, but I think the market may be more stable. Look at the types of employers and the vast number of them that exist int he cities. I would recommend it.
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