Foreclosures in Iowa City / Coralville area?

[Sharon Ho]

I recently purchased a duplex and am excited to start planning for a second deal. Currently in research mode... My goal is another multifamily. I'm also intrigued by the BRRRR method and plan to learn more about this strategy. I had a chat with someone about purchasing a foreclosure property together in the future and rehabbing it. Does anyone have any experience or insight on purchasing a foreclosure in Iowa City/Coralville area? Thanks in advance! :)

[Mark Reiland]

Yes, it would be based on a list of improvements provided by the borrower. I don't know the timeline. I think it varies by investor. Some investors have a banker that gets it out right away, others go thru in house committee before it reaches us. We could likely do it prior to sale, if we are able to get into the property, or even without getting into the property. But in either case, we would be looking at an after rehab value.