Questions on Quad Cities Market

[Stephen Whittle]

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Hello BP,

I apologize if I am posting this in the wrong forum, as this is my first post on the site.  Please feel free to move it to the correct place if I have posted incorrectly.

My business partner and I currently invest in Burlington, IA and are looking to make the jump into the quad cities market.  I had a few questions for people that are currently investing in the quad cities. Thank you so much!

1) Any recommendations on IL vs. IA side?  (Thinking IA due to IL taxes being so high, but open to all places.)

2) We are thinking Davenport as the city we would like to start in.  Any places to avoid buying in (warzones), and also any areas that we should be targeting for our purchasing?

3) Is the market better for buying single family or multi family houses?  We currently have both in Burlington, and would be open to either depending on the market.

4) Any other general advice/things we should know before we start buying in this market?

Thank you so much.  We are very excited to start buying in this market and would really appreciate the advice of the people that have been doing this already.  

-Stephen

[Michael Pease]

Hey guys,

I agree with what @Alex Bock has said here. I wanted to just put in a brief snipit from my perspective as well.

1) IA taxes are lower but I wouldn't avoid IL just for that. SFH prices are much lower and yes it can be harder to sell but if you are looking for buy and hold it may not be a bad place to start. I own property on both sides that compare in cash flow.

2) Definitely some neighborhoods to avoid. Any good agent will help with that and if you aren't using an agent just send me or anyone on this from the area an address and we'd be happy to educate you on the quality.

3) Once again, both are pretty good here, apartments have been moving quite quickly in the last year or so here and deals can be harder to find. I personally think we are in a seller's market with limited supply but that doesn't mean good deals aren't to be had still.

4) If you guys want to chat further I have just launched an accounting firm and property management firm in the area for essentially investors like yourself. We specialize in real estate agents, investors, contractors and also do more generic tax preparation and consulting. On top of that, since I've been investing in property for over 7 years, I incorporated a property management component into our company. The thought here is that we can offer a much higher management service and overall service on buying all the way through the final sale and everything in between.

I also have a good list of agents and other people who have wholesale deals if that's what you're looking for. Message me with some additional info on what exactly you guys look for in returns and any other info and I'd be happy to help!