Rental Property Investor · Lansing, MI · Member since 2019 · 36 posts · 11 votes
Hello BP!
I'm originally from the general Fergus Falls, MN area (+30min), and now live in Michigan. My wife and I are looking to buy a single family home as a rental, specifically to use as an AirBnB/STR. I'd love to connect with any real estate investors and professionals in the area to learn more about how this market has been performing, and things to know about.
Connections I need:
investor friendly lender (once I close with cash and am ready to put a mortgage on it)
on-call "handyman"
cleaner
real estate photographer
Other information I'd like to know:
Local REA meetups?
strength or trends in local long-term rental market
any known or suspected developments coming to the area (businesses, attractions, festivals, etc)
any flips that will be getting finished in the next 1-6 months?
what else should I know, or who else is a good person to know about real estate investing in central MN?
I look forward to hearing any and all feedback that you folks may have to offer!
Residential Real Estate Broker · Fergus Falls, MN · Member since 2016 · 4 posts · 1 vote
4y
I am an agent and investor from Fergus Falls. We also have a cabin that we use as a short term rental. We also own several Buy and hold long term rentals as well. Please let me know if I can assist. Thanks
Rental Property Investor · Hugo, MN · Member since 2014 · 283 posts · 257 votes
4y
Are you looking specifically in Fergus Falls for a short term rental? There's a lot of people on here who have done well with short term rentals in cabin country. I think BP gets a little finicky about people giving specific recommendations on the forums. Better to search the network section under recommended vendors. Shoot me a DM and I can share specific contacts with you.
I know a couple people who own long term rentals in Brainerd who have been doing well. There's not a lot of rental housing available for the population in that town at least.
Residential Real Estate Broker · Fergus Falls, MN · Member since 2016 · 4 posts · 1 vote
4y
I am an agent and investor from Fergus Falls. We also have a cabin that we use as a short term rental. We also own several Buy and hold long term rentals as well. Please let me know if I can assist. Thanks
Rental Property Investor · Lansing, MI · Member since 2019 · 36 posts · 11 votes
4y
Hello @David E Weinrich and @Matt J.! I appreciate the feedback and responses from both of you gentlemen. The real drive for us to buy a STR in central/western MN area like Fergus Falls is that my wife and I want to get a property that will cashflow well first, and will also be close to our family, closer to the MN/ND border - so Fergus Falls is the biggest area closest to that.
I definitely noticed as I reviewed the other listings on AirBnB that most of them are lake cabins, east of Fergus Falls in the lakes area, but I wasn't sure whether I should interpret that as that's where most of the consumer interest is, or if the immediate Fergus area was just less developed.
I live in the Lansing, MI area, so we've got some decent LTR properties available here, and I think I'm going to be focusing on STRs first, both in Lansing, MI and in the Fergus Falls/Lakes Area of MN, and then look to add LTRs after that.
I'll DM both of you for more info - I appreciate it!
Residential Real Estate Broker · Fergus Falls, MN · Member since 2016 · 4 posts · 1 vote
4y
The majority of the Airbnb are cabins in the area on the nicer lakes. They produce the most income and highly desirable. There are just a handful of STR in the city itself. Let me know how I can assist.
I am an agent and investor from Fergus Falls. We also have a cabin that we use as a short term rental. We also own several Buy and hold long term rentals as well. Please let me know if I can assist. Thanks