Betting on Minneapolis, Private Equity Group Investing $70 Million in Twin Cities Condo Purchases

Why let outside investors reap all the benefits of this buyer’s market?  If they have the confidence to invest in Minneapolis condos, so should you!  We all know the broad swept statistics used to assess Twin Cities housing market do not reflect our great Minneapolis city neighborhoods.  Here’s a little something to get excited about:

http://www.startribune.com/business/119034434.html

CHAT WITH ME ONLINE about the Downtown Minneapolis condo market.

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5 Things To Consider When Buying A Lender-Owned Property

Want a great deal, but don’t want to go through the headache (and heartache) of going through a short-sale negotiation?  I’d recommend going with a Lender-Owned property.  These are properties that have fully gone through the foreclosure process and are now owned by Lenders.  The best deals in the Downtown condo market are often times Lender-Owned, but you have to be quick to spot them and know what you’re doing!

Here are 5 pointers to help you when it comes to buying a Lener-Owned condo:

Do Your Research

Lender-Owned condos are typically priced to sell and below market value.  Instant equity is of course what the end goal is.  However, unless you know the Minneapolis condo market well, you will have a hard time identifying the true value of a Lender-Owned property.  Study the market first.  Take note of the recently sold condos, price ranges, and trends to estimate the market value of a condo development.

Beat Your Competition to the Punch

Lender-Owned properties don’t sit on the market for long because they are priced to sell!  To combat this problem, enlist the help of a Real Estate Professional to keep an eye on foreclosure notices in the condo developments you like.  This way you will know in advance when a Lender-Owned property will be coming on the market and can be the first to strike!

Don’t Be Put Off By Fixer-Uppers

Banks will not typically negotiate for repairs.  Condo foreclosures are usually sold As-Is and often times are not in the optimal condition.  Don’t be scared!  You can see large returns on your investment by just making cosmetic updates.

Get a Home Inspection

Whether you are buying a foreclosure or not, it is always a good idea to get an inspection.  Condo inspection reports do not take into consideration big-ticket items like the roof or foundation condition, as a single-family home inspection would, but inspections are inexpensive and always recommended.  Nobody likes surprises with negative dollar signs attached to them.  Remember, you can cancel the contract if you are not satisfied with the inspection result and it is on to the next one.

Enlist the Help of a Local Realtor Specializing in The Condo and Loft Market

A good Real Estate Agent specializing in the Downtown Minneapolis condo market is worth its weight in gold.  Seasoned agents have insight and experience that can only be gained by going through the process.  Keep in mind that Buyer’s Agents get compensated for their services through bank-paid commissions, so you have everything to gain and nothing to lose.

CHAT WITH ME ONLINE now to discuss purchasing Lender-Owned properties!

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Deal of the Month: March

This 2 bedroom, 1 bathroom unit is located in the highly sought after Harvester Lofts building in Downtown Minneapolis’ North Loop.  It offers a true warehouse loft feel, but with all the modern living amenities you want.

Imagine stepping out your door and being steps away from Minneapolis’ best restaurants, bars, and venues.  Within a mile radius you have Bar LaGrassa, The Loop Bar + Restaurant, J.D. Hoyt’s Supper Club, the Mississippi River, and Target Field!  When you call this unit “home”, you will be at the epicenter of Downtown Minneapolis’ trendiest area!

Click on the link below to see this month’s Deal of the Month flyer.

Deal of the Month: March

CHAT WITH ME ONLINE about this and other Downtown Minneapolis properties.

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Skyscape Auction

The Skyscape Condominiums (929 Portland Ave S) is auctioning off it’s remaining 26 units, with minimum bids starting at nearly 50% of current list price.  Whether you’re a first time-buyer looking to move Downtown or you are looking to pick up an investment property, this could be exactly what you’re looking for!  Units for auction range from 1 bedroom/1 bathroom units (starting at $125,000) up to a 3 bedroom + den/ 2.5 bathroom penthouse unit (starting at only $450,000).

The auction is to take place on March 14th at the Graves 601 Hotel.  Contact me immediately for the available units and their floor plans and prices!  There will be Open House previews starting today through March 13th from noon to 6:00 pm daily.

If you have any questions about how the auction works or are interested in heading out and seeing some of the units, feel free to call or message me and we can set something up!

CHAT WITH ME ONLINE about this unbelievable deal!

Here is an article from the StarTribune that talks about the Skyscape auction:
http://www.startribune.com/business/116445954.html

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Deal of the Month: February

This top-floor unit is located at the American Trio Lofts in the Historic Minneapolis Mill District.  It is aggressively priced to sell and will not be on the market for long!

Click on the link below to see this month’s Deal of the Month flyer.

Deal of the Month: February

CHAT WITH ME ONLINE about this and other Downtown Minneapolis properties.

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Winter ’11 Update: Monthly Skinny

Numbers are looking as though we’ve hit the bottom, but only time will tell.

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