Multi Family Investing In Twin Cities, MN

[Davit Gharibyan]

Hello all,

I am researching multifamily investing and I need to find out what is a good area in Twin Cities, Minnesota metro to invest. Any advise is appreciated.

[Davit Gharibyan]

Hi Christopher, last year I bought a 17 unit property in Farmington, MN. It's a bit for for my liking, but it's fine. Currently I actively calling owners across Twin Cities, MN. There is a tremendous opportunity in small to mid size properties. Anywhere from 7-50 units. Lots of these operators are in their 70s and looking to retire. Their rents are 100-150 below market rents. Imagine, you buy a 10 unit property and raise the rents by 100. That's $12000 additional NOI. By doing it you've just raised the property value $200,000. This is the beauty of multifamily.