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Updated over 4 years ago,
North Minneapolis good place to invest? Advice Please!
Hello I am considering buying a duplex in North Minneapolis and I wanted to get some advice. The property itself has been rehabbed and everything looks great. We are ok with the neighborhood regarding safety and everything. We would live on the bottom floor and rent out the top because it has 4 bedrooms. This would be our first investment purchase and we would be managing the property. I have a few questions that I would appreciate any advice/ help with.
1.) My biggest concern is renting a 4 bedroom in that area, (I assume a family would most likely be attracted to four bedroom). How would I find the best tennets for a four bedroom? is it more difficult to rent to a family?
2.) Will the home still Appreciate like other homes in Minneapolis. the houses next door dont look amazing but everything looks newer and nice a block over. (single family homes with lots well maintained)
3.) Is Vacancy more likely in that area/ what is the percentage ? Eviction common? not really trying to do section 8 but open to the idea if recommended.
Any help/Advice on owning property in North Minneapolis would be much appreciated