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All Forum Posts by: David Plaunt

David Plaunt has started 11 posts and replied 46 times.

Post: So... I got screwed on a real-estate deal

David PlauntPosted
  • Posts 46
  • Votes 19

@Chris Schadl thanks for highlighting all these ways we can get screwed. Sorry you had to go through all that trouble. Think about all the lessons you learned for the next property.

I live in Minneapolis. I personally would lean towards using an agent. Especially if you are questioning your plan of attack. Go with an agent until you are comfortable and knowledgeable on how to do it properly solo. 

I have lived in and around Uptown for several years. It is such a great area of the city. Good access to the lakes, great food options, and unbeatable access to the bike infrastructure. I was hoping to go the same route house hacking when we bought 4 years ago, but ended up in a perfect SFH for our needs. If you can get your hands on a multi family in Uptown at the price you want to pay, go for it. They don't last long on the market. As far as the police issue goes, Minneapolis residents are very progressive, and there may be some changes. But they are also very educated and proud of the neighborhoods and hold each other to a high standard. This is a good test for the Minneapolis, and in the short term, the values may dip. But the demand for the amenities and convenience of the city will continue trending upward.

I have lived in SW Minneapolis for nearly 10 years and absolutely love it. I think it a smart city to invest in. With the robust healthcare system and Fortune 500 businesses, there is a steady flow of potential renters. Places with good accessibility to the bike routes and on the new SW Transit line would be strong areas to look. Richfield has been undergoing big upgrades - I would wager there will be another mass transit line going there in the next 10 years, and any western suburbs seem to be always very attractive to live.

I think that is a really convenient area to live. Close to the action in downtown St. Paul and really easy to get onto I94 going East/West and 35E going North/South. As both Minneapolis and St. Paul are growing metros, I would take a swing on this one. Maybe bank for higher repairs, just to be on the safe side. 

Networking with well informed agents and investors. I’ve seen some nice 4-units come up in minneapolis, but they rarely stay on the market for long.