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Updated over 10 years ago on . Most recent reply

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Brandon Turner
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
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Anyone from SW Iowa?

Brandon Turner
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
Posted

Hey everyone,

I've got a lead on a small apartment complex in Sigourney, Iowa. The numbers seem decent... but I know NOTHING about this area. It seems like a really small town which makes me nervous. 

Anyone close by and can tell me anything about this area? This would include Iowa City, Oskaloosa, Uttumwa, and maybe even Des Moines :)

Thanks!

  • Brandon Turner
  • Podcast Guest on Show #92
  • Most Popular Reply

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    Thomas Fosnaugh
    • Investor
    • Marion, IA
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    Thomas Fosnaugh
    • Investor
    • Marion, IA
    Replied

    I'm in the Cedar Rapids area - my wife's parents used to live in Ottumwa and I've worked in that general area some.  Sigourney is a pretty small town in a very rural area.  Ottumwa is a big meat packing town, Fairfield is small college town, Riverside has a casino, Amana/Kalona are Amish areas.

    Biggest issues in that area I would think would be proximity to jobs and meth.  Also, some of the small multi-family built in 70s and 80s in Iowa have wood foundations and most properties above a duplex are zoned commercial (much higher taxes) so you have to form a Coop or Condo (S Corp) to convert to residential status to drop the taxes.  Also seems to be a fair amount of Orangeburg pipe that was used in Iowa in older properties.

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