Buying Davenport

[Meghan McCallum]

And it begins! I FINALLY got a deal. I put offers out on 3 properties. One came back w a yes (3 flat), still waiting on the others. I have one other in Geneseo in negotiations (two flat). I'm writing the contract today! I have already taken an information packet to the bank for the cash out re-Fi. My banker is beginning to process it even before I close bc she knows I want my cash out so I can get my BRRR on. I have an offer for the 5 plex across the street, so if all goes well, 8 units right near each other. COMPS are really hard to find. I just know I will cash flow immediately and should have more than 30% equity without fixing it up. So, looking forward to my cash out payday (my fam's plan is to live off the difference in the equity cash out from the cash I invested, all rent will remain with the property until paid off).

So, one down and three to land. Wish me luck!!!

[Eddie Lehwald]

Hi @Meghan McCallum! How did your Davenport 5 plex work out? I'm in very pricey Austin TX and have some family in the quad cities, so I'm investigating the possibility of buying a MF in Davenport, where the initial cash flow estimates look waaaay better than they do down here, even after allowing for management/upkeep expenses. Doesn't seem to be too much about the QC on the forums (which I think might be a good thing-a heretofore untapped market?), so I'm curious to hear from someone in the area!