There are so many good spots in Minneapolis. It is hard to pick. The key is finding value and paying a fair price for the home. What is value? Value can mean many different things to different people. But here is what I see as value.

location- I want to be in the middle of the street, on a good street, that is in a good neighborhood.

Price- I will pay full price or even above full price if I feel the value is there. Is there potential to add value? Is there something that is changing about the neighborhood that is going to make it more desirable? As Warren Buffett says, “price is what you pay, value is what you get”.

Condition- the condition needs to be reflected in the price and vice versa. I have owned a lot of homes. I have remodeled a good number of them and my background is in construction. So I can fix a lot of different things on a house. If there is potential in the house to add value such as installing a window or opening up a wall I don’t have a problem with that. As long as it is a fair price I am good.

Long term trend- this is the wild card. I try to look into the future. It is hard to do, but luckily my market focus is on Minneapolis so I don’t have to know about the whole Twin Cities. I think Minneapolis in the long run is going to be a great city. One of the best in the country. So I want to make sure the neighorbood is going to develop with the city as a whole.

So find value and make it happen.