Des Moines Market - heads up!

[Denyse Dar]

Im a new construction specialist/private REI investor working for a national builder in the Des Moines area. I used to do long term (5 year) flips in FL and now do shorter term (3 years) Buy & Holds. I picked up my first single family new construction - 60k below appraisal with a 3-year tax abatement. I just wanted to give a head's up about the REI opportunity in the area. It's NUTS and given the scarcity of flip/wholesale/off market inventory, I know someone out there will find this both useful and lucrative.

Des Moines, IA and Omaha, NE have been coined “Silicon Prairie.” Google, Apple, Amazon and Facebook have all recently put MASSIVE roots down. Google & Apple to the west (look in areas of Waukee for investment) and Facebook & Amazon to the east (look in Bondurant & Altoona...they have tax abatements and the greatest growth!!!) The other town to look in is Ankeny.

The resale supply in the area just fell to a critical 3-months worth (average is 6 months) and the unemployment rate is one of the lowest in the country. There are more jobs than people and these corporations are demanding even more so the influx of millennials has begun happening. Which is creating an epic demand for housing. We can’t build fast enough. Two other national builders are actually out here scouting our stuff so they’re probably about to put a foothold here too. Big corporations like these don’t flood to a place unless they’re sure of the numbers..so follow the money!

Im seeing a ton of investors from other states breezing in. They’re scooping up to 20 townhomes at a time. Others are picking up 3 & 4 single family homes at a time to use as Executive rentals. Both groups seem to be picking them up as interim housing for folks moving here for jobs. Well, except one woman who was doing AirBnB for the caucuses. Anyway.

I don’t know the Omaha market - I would imagine it’s worth a similar look. I just can’t speak to where to look etc. But you are welcome to pick my brain about Des Moines if you wind up considering it. Do your research and happy investing all! ;)