All Forum Posts by: Allison Massey

Hello All - I'm a new buy and hold investor (looking for single family rentals in the Quad Cities, specifically Bettendorf and East Davenport). I'm going to do a direct mail campaign and am educating myself as much as possible before sending my first batch of letters.

Does anyone have any specific podcast recommendations, in which direct mail marketing is discussed? (I listened to the Michael Quarrels podcast a few times, what other episodes cover this topic?)

Any good direct mail books out there? Blog posts? Guides? Recommendations?

I will do my own searching of course, but wanted to reach out to this community, as well. 

Appreciate everyone's time and expertise. Thanks.

Allison

Does anyone have a recommendation for good property management companies/professionals who specialize in Bettendorf and who specialize in East Davenport? I'd like to talk with a few to help further educate myself on each market (looking for a rental in Bettendorf and/or East Davenport). I've already spoken with Michael Pease, who is great. Just looking for additional PM companies to connect with. Thanks.

Campbell Electric in Davenport. Google for contact details, BP won't let me post contact info in my reply. My dad, who is a plaster/stucco contractor in Davenport recommends them, and has utilized the owner's son for projects with great success. Good luck with your property!

Anybody in the Davenport / Bettendorf / Quad City Iowa (or even Moline or Rock Island) area know of a wholesaler named Peter Lucke?  He has a house I'm interested in and wondering if he is reputable or if anyone has experience with him? I'm not sure specifically in which cities he's most active. Thanks.

@Jeff Copeland  Sorry for my delay, thanks so much for your response. I ended up getting an example agreement, got them to sign the formal contract, then I had to back out due to some major work that needed to be done that I hadn't realized at the time. Anyway, appreciate your post.  I'm new at this and learning every day.

Hello All - I've reached a verbal agreement to purchase a home in Bettendorf and all the law offices I know to call (in Bettendorf, Davenport and the general Quad Cities) are closed over the weekend. Does anyone have an example or template contract they've used to purchase/sell a home for sale by owner (purchase contract)? I'd like to get something in writing and signed, at least, while we've reached an agreement and not wait until Monday.

Or if anyone knows a Davenport or Bettendorf real estate attorney they could recommend who works over the weekend... 

Appreciate any help. Thank you.

Allison

Hi Conrad - Thanks for your response, but I ended up selling it to a cash buyer in November. Good luck on your search.

Thanks,

Allison

@Michael Pease Thank you for the insight, how does one get a crack at the pocket listings and decent wholesale deals? I imagine networking, establishing oneself, and just being around and reputable helps... would this be something accessible for someone new, like myself?

@Shawn Faris Your post is incredibly helpful, thank you. How did you find the off market deals you are currently pursuing? Are the FSBO homes you purchased performing well given the rent you are pulling in? If I may ask, what are your criteria? I will message you, as well.

Thank you both for the vacancy #s. I was definitely being conservative in my estimate, so it's helpful to know I could still be conservative and save a few % when estimating.

Question for Quad City area (Bettendorf, Davenport, Rock Island, Moline) investors - do you believe good deals can be found on the MLS and/or FSBO for a single family rental? I'm looking specifically in Bettendorf for a single family rental. I've started with MLS and FSBO. Haven't attempted other approaches at finding a deal, yet. I am patient and doing this on the side (not looking to launch a full-time real estate business).

Also, what is a realistic vacancy rate for a Bettendorf house? I've got my spreadsheet set-up to account for 10% vacancy.

Ideally, I'd like to find a fixer upper at a good price and utilize my dad's construction skills and QC network to rehab it into a nice rental.

Appreciate the time and guidance from more experienced investors.

Thank you @Alex Craig . Appreciate the insight into your market and will reach out to an attorney and local property manager for guidance.