All Forum Posts by: Jordan Crockett

@Jordan Moorhead Ha yes , I sent him a message and I corrected it to Grigoriy.

@Tim Swierczek Thank you Tim that is very helpful, I will reach out to Greg.

@Jordan Moorhead Thank you for the feedback and advice that is helpful!

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

@Daniel Anshus Hi Daniel, I am working with Torrion Amie from Re-max. I’ll connect with you and send you a message.

Thank you @Alyssa Storm , @Bruce Runn , and @Adam Tafel . This is really helpful information/advice and i will be applying it as i search for a property.

@Brian Loibl Thanks Brian and congrats on your spot in NE. How long did it take you to find the deal?

@Adam Tafel - Thank you for your response, those are great tips. I will put the deal searching suggestions on my action list. 

You mentioned that a TurnKey property in a nice area will not perform as well. Could you give me a bit more detail as to why that is? I have been using the calculator and it seems like the 1-2 percent rule is realistic for properties around 230K in some Minneapolis areas. 

Thanks Joseph, I appreciate the response. That is really helpful and I will be asking for those maintenance records.

Best,

Hi BP community my name is Jordan Crockett, I live and work in Minneapolis. My wife and I are new to real estate investing but we have put in some work education wise, gotten an agent, and lender. Our goal is to find a small multifamily to house-hack and grow our business from there. I am looking forward to the journey and truly interested in connecting and learning from anyone and everyone on this platform. 

1.) I would love to hear some advice about the Minneapolis market and how to find a great multifamily. I have been watching it and it seems like small multifamily spots are getting picked up really quick. 

2.) Does any one have any advice for things I should look for as i look at these properties. We want a property that will not have huge issues right away. (Pluming, HVAC, etc.)  Is there any rule of thumb questions I should ask as I check out these properties?

Thanks in advance for any help/advice.