All Forum Posts by: Andrew Kougl

@Chase Keller

Absolutely Chase, I think broadening my focus and expanding market knowledge would be very helpful, thanks. Connection Request sent!

@Michael Lown

Absolutely, Iowa City came up in conversation today actually! I'll shoot over a Connection Request and would love to chat over the phone and learn how each of us is approaching it.

Thanks!

Andrew

@Michael Barnhart

Sounds awesome, seeking the "team" is actually my favorite part of real estate investing and it's also super important to your ultimate success. I'll send you a connection request.

@Suzanne Sevier

Ah, make sense, thanks!

@Jose Linares

Congratulations, you're the 2nd SD investor I've talked to in the last 2 weeks who did BRRRR as their first deal. You guys are courageous. Good luck on finishing strong with that bad boy.

Hey @Doug Karkow, really appreciate your response! Hearing 12% CoC is achievable is great. And I think Iowa seems to have different markets, Des Moines, Cedar Rapids, Davenport, Iowa City, all viable options in case one market doesn't have the inventory. At this point just connecting (connection requested) and establishing relationships. I'm going to look more into Cedar Rapids and any connections that could help me establish a presence and build a team would be great. I have capital but I'd be open to hearing how your partnership model works. Deals, property managers, lenders and agents would all be very valuable. I'll send you a message as well.

Thanks for the help!

Hi @Jose Linares, happy to see a nearby face! There certainly are a lot of San Diego based investors on BP. 

You're spot on and sadly that's been my experience exactly. I had started down the path with IHMVCU and then when the supervisor got wind I was OOS, they didn't want any part of it anymore. Big bummer.

I am coming to terms with a 25% minimum down payment if it's required, I just really want to to do a deal. I have the necessary funds so I won't be needing a private money lender, just prefer the 20% down to keep more of my capital for the next deal. 

I'll connect with you. Curious are you investing in Iowa personally?

 Hi @AJ Leman

I believe I have but some of my criteria have changed since then so I'd appreciate any referrals you have. I was looking at Davenport at the time so that may have been an issue. 

Thanks!

I'd be an OOS investor looking into investing in Iowa. It seems like a good, landlord friendly state with reasonable taxes. I also like the Series LLC opportunity. I'm hoping to connect with others who are trying and already investing in the market to learn and help each other out. I'm specifically interested in Multi-family (4-8 unit). I've already done some research on Davenport but open to the other major metros in Iowa as well such as Cedar Rapids and Des Moines among others. My goal is at least a 12% CoC and a 9 Cap Rate. This seems achievable in Iowa but let me know if that's unrealistic.

The one issue I've had so far is with financing. All seem to want 25% down, is that the standard other investors are seeing?

Looking forward to joining the Iowa investing community!

Hi Lori,

Did you end up purchasing in Midland?