TCREI Show #4 - ”St Paul Data and Market Update”

No guest for this episode - Adam and Tim dive into the St Paul rental, housing, and small multifamily markets. This episode is a continuation of the Twin Cities Real Estate Investing Meetup, which can be found at Meetup.com and takes place once per month at various locations throughout the metro. In this episode we share our findings, including some surprises and valuable insights. 

 

Our main takeaway - while the data is interesting, valuable and will ultimately help newer investors navigate the search and purchase process with greater confidence and perspective, we do not recommend making decisions solely based on spreadsheets and data. I've personally bought deals that looked awful on a spreadsheet but turned out quite profitable, and I'm sure the opposite story is true of many investors, regardless of experience level.

 

The main benefit to understanding the numbers is perspective - I'll give an example. Let's say you've been in the market for a 4-unit property near your work in Highland Park. You've only just been preapproved for 3 days, and your agent calls with a listing. An educated buyer will have the perspective to understand how the listing falls amongst market averages performance-wise and will also be aware of how rare (or commonplace) the opportunity might be. This perspective will allow the investor to react accordingly - maybe they jump at the opportunity, maybe they wait for something better.

 

Adam Tafel is a Realtor and Real Estate Investor living in Highland Park. You can reach him at Adam@UpsidePropertySales.com.

 

Tim Swierczek is a Mortgage Lender out of White Bear Lake. You can reach him at Tim@TimSwierczek.com. or schedule an appointment today here

 

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