Why You Need A Map To Buy A Minneapolis Duplex

minneapolis duplex mapIf you’re thinking about where you want to buy an investment duplex in Minneapolis, one of the first questions you should ask yourself is where you drive.

Why is driving important to investment real estate?

Because many new investors make the mistake of buying properties too far from where they already travel, which makes managing the property difficult.

In the book FLIP: How to Find, Fix and Sell Houses for Profit, authors Rick Villani and Clay Davis shared an excellent strategy for locating neighborhoods to invest in.

They suggest you get a map of your city that’s divided into neighborhoods or zip codes. Then, take a pen and put a mark on where you live, and where you work.

Next, decide how far you’re willing to drive to take care of your investment property. A better measure might be how much time you’re willing to spend in the car.

If that’s ten miles, draw a ten mile circumference around your office, and another around your home.

Looking at the map, draw a line from the top of one circle to the top of the other. Then connect the two bottoms of the circles in the same way.

The area that falls between those two lines, or where the two circles overlap,¬†should be neighborhoods you either travel through every day, or ones that wouldn’t be tremendously out of the way for you.

And it’s those duplexes you should target, as they’ll be the easiest for you to manage.

Believe it or not, there will be days you really, really don’t want to have to go to your Minneapolis duplex to make a repair or show a vacant unit. The less out of your way it is, the easier that trip will be to do.