Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

680
Posts
650
Votes
Meghan McCallum
  • Specialist
  • CHICAGO
650
Votes |
680
Posts

Buying Davenport

Meghan McCallum
  • Specialist
  • CHICAGO
Posted

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!!!

Most Popular Reply

User Stats

29
Posts
12
Votes
Eddie Lehwald
  • Investor
  • Austin, TX
12
Votes |
29
Posts
Eddie Lehwald
  • Investor
  • Austin, TX
Replied

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!

Loading replies...