New Investor in Des Moines, IA

[Dana Oredson]

Hi, my name is Dana Oredson. I'm new to BiggerPockets. I found out about BP when I read 2 of Brandon Turner's books: "The Book on Rental Property Investing" and "The Book on Managing Rental Properties".

My wife and I have wishfully talked about owning rental properties off and on over the years, but this year, we listened to Brandon's audiobooks, then bought hardcopies and decided that we just needed to get one property under our belt. I have no doubt that once we have one, we'll get more and start a snowball.

We currently have an offer in on a two-unit house in south-east Des Moines. We have had an inspection done, and there are a couple of things we'll probably need to take care of right away with the property: a flashing problem and a very uneven sidewalk problem that the current tenants have complained about to the previous owner many times. One tenant is justifiably skeptical that his voice will be heard. The roof will need to be replaced within five years, but we've budgeted enough for capex and general repair that it shouldn't be a problem.

An interesting thing with this property is that it has two storage sheds on the land that the previous landlord rented out separately (not necessarily to the tenants). The lot is quite large in back, and we are considering adding more rental shed storage, assuming the city is okay with that.