Minneapolis House Hack- Starting Out

[John Walter]

Good Morning BP,

I am John Walter and I am new to the Real Estate and BP forums. I am located in Minneapolis, MN and am looking to get into a multi-family home. I have done a fair amount of studying and learning over the past few months and would like to start diving in. My girlfriend and I are renting downtown and it is very expensive. I feel that a great way for me to get started would be a smaller duplex in the greater Twin City area. I have a real estate agent currently, but he is pushing me to go to single family as the competition would be too tough for multi-family and will be higher pricing. I would love to stay below the $330,000 mark if possible. One challenge I have, is I am newer to the area (under 1 year), so I'm not 100% familiar with the communities. 

I wanted to ask the BP community if I am way far off and should look to get into a SF home? Just looking for some guidance as I feel the push from my RE agent is to go into a SF home. I am going into this knowing that it takes time and patience.  I feel that this would really push me forward in my in my investing career. Just looking for some thoughts, tips, or opinions! 

Thanks! 

[Armin Nazarinia]

@John Walter- Welcome to BP and Minnesota. I am newer to the Twin Cities as well so can't help you a ton with the communities to, but know you can find a duplex for under the $330,000 mark. I would argue duplex competition is actually less due to many people looking for single family homes and lots less looking for duplexes. If you have a real estate agent that is pushing you into something I would recommend looking for a new agent, (s)he may not be well versed in multi-family. You want an agent who is working and looking for what you want. Are you looking for something more turnkey or something you can put some work into? Do you have an idea of the type of investing you want to do or the long term goal? Is is cashflow? Sounds like you're ready to go and that's great, if you look at a bunch of multi-family houses and you determine it doesn't make sense for you it's much different then someone who gets paid to get you closed on a deal. Best of luck feel free to reach out if you need anything. I'm always up for meeting up and talking more with future investors!