North Dakota Rentals

[Noah Spitzer]

I’ve been looking into properties for some time. In North Dakota we are more of a stable economy then most bigger cities. Knowing the prices are high as well with the FED meeting coming in June. We believe the internet rates will hike which in turns causes a recession which I believe is not far around the corner.

What I am curious about is paying $65,000 a door in the my particular state would be a bad move at this particular time?

As well is purchasing a multi unit not smart at this giving point? Should I wait to see how the FED react?

Thank you in advance!

[Dan Carroll]

Hi Noah

I just saw your question regarding North Dakota rental properties. Although I certainly agree with you regarding the coming economic turmoil that is headed our way, North Dakota is a great place to invest now. I have been a real estate investor for 32 years and have owned multifamily and SFH properties. My experience is that purchased correctly, SFH are much more lucrative. I live on the Oregon Coast, but started buying homes in ND 2 months after Biden was elected. I figured with his planned war on fossil fuels, the Bakken was going to take off again. In the past 12 months, rig count in the state has gone from 17 to 40, and the demand for rental housing has skyrocketed. The price of oil is not going to plummet below $70/barrel in the next 5 years, so high demand for rental homes will remain strong. I have purchased 12 homes in the past 15 months, all providing between 15%-31% CoC ROI. Most are 2% deals. I am happy to discuss further if you would like the particulars.