New to REI in Iowa

[Melissa Mullane]

My husband and I are brand new to REI and we're looking for our first single family rental property in the Cedar Rapids, Iowa area. Anyone familiar with our market that has tips and/or advice, we'd love to hear from you! We're in the process of building our team so if you know of any good GCs, attorneys, etc. feel free to share. Thanks in advance!

[Patrick McInerney]

Welcome to BP, Melissa!

I am a Real Estate agent in town, and can help you locate properties on the market.  Get a hold of me anytime if you want to discuss.

Investment properties are hit or miss right now in town, but they are still out there if you can nab them in time.  I just helped a couple get a fixer upper in Hiawatha and a bank owned property on the NE side in the last few weeks. 

Just make sure you do your research on each property (of course) and have a good idea of what you are looking for (side of town, ranch, 3+ bedroom, etc...)  You also need to make sure you have all your finances straightened out.  Some of the best deals need cash or at least financing that is not contingent on an appraisal.  The ones we executed contracts on in the past few weeks were purchased with a construction loan that wasn't dependent on inspections, but the houses will need to appraise for the purchase price.

PM me if you want to talk some more..