Realty411 - Your Source for Real Estate Investment Information CashFlow Express - Featuring HGTV's Flip or Flop! | Page 14

Real Estate and the
North Dakota Oil Boo

m

By Kenny Dewan, CEO MondayOne

Multifamily Development in North Dakota Taking Advantage of the Oil Boom and
the Highest Rents in the Nation

E

very morning I wake up excited, and
that energy keeps going throughout the
day. Why? Because of what I see as the
greatest opportunity in my 24 years of business
life: Building housing for the oil workers in
North Dakota. As a numbers-driven decision
maker, here are the facts that I see:
Oil production is growing – Three
years ago North Dakota was producing 100,000
barrels of oil per day. Today production is up to
1,100,000 barrels of oil each day.

Bakken oil is a geopolitical
game changer – In December 2012 the
U.S. became the second largest oil-producing nation in the world (behind Saudi
Arabia). In just three years the U.S. will be in a position to stop importing oil
altogether. We can keep our dollars here, and our economy will no longer rely
on OPEC’s whims.
Full build-out is years away – It will take 60,000 plus