Updated over 2 years ago on . Most recent reply
First Investment property
Hello, my name is Alison Olson. I am student looking to get into my first investment deal and plan to house hack in the Minneapolis area. I am looking for advice on how to find nice neighborhoods in or near the city to find appreciation. I am new to investing in real estate and look forward to connecting and receiving advice. As well as recommendations on the size of a first investment property, with 2b/2b or 3b/2b etc. I appreciate any help in advance. Thank you!
Most Popular Reply
Ultimately it all comes down to understanding where you are investing in. The easiest thing would be to talk to a reputable agent and get their opinion but here are also a few things you can look at too.
- Population charts, avg wage, and days on market of different properties.
- Are most neighbors renters or owners?
- distance to major shopping areas/good schools.
- Look at google earth at different years and see where development has been created; things like new apt's, neighborhoods, and malls. (also be aware of new construction)
Remember, appreciation is not guaranteed, so make sure you will save money on rent and eventually cash flow after moving out if things don't turn out how you expect them.
Best of luck!