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All Forum Posts by: Andy Algreen

Andy Algreen has started 9 posts and replied 41 times.

Post: New to real estate

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

Hi Katelyn, it's good that you have taken the first step and introduced your self on BP!

Personally, I would start hitting the education piece of real estate investing hard. Read BP books (The Book on Rental Property Investing, Managing Rental Properties, Set For Life), watch Youtube videos, etc. 

If you're looking to jump right in, feel free to book a time on my calendar! Happy to chat through my experiences with the investment world and figure out exactly what your goals are!

Book time: HERE


Post: 30 DAY MINIMUM RENTAL QUESTION

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

I would agree with everyone in this posted that said something to the effect of stay away from HOA's if you're looking at renting out short-term or medium term as policies can change.

I co-own a short-term property management business in Des Moines called 'Des Moines Short-Term Rentals'. If you ever have any questions about STR in the central DSM area, we are always happy to help answer any questions!

Post: Is it possible to have Untouchable Equity???

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

Hey Christopher, here are a couple options that you could explore. Firstly, instead of going for a cash-out refinance, you could consider taking out a Home Equity Line of Credit (HELOC) on your homes. This way, you can tap into the equity without giving up your favorable interest rates. Another option to explore would be selling your properties and doing a 1031 exchange. This would allow you to upgrade to a small or large multi-family property, depending on the amount of cash you'd like to pull out and avoid paying the capital gains taxes on the sale. These options could potentially provide you with more flexibility and opportunities for growth.

Post: Real Estate Investor Enthusiast

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

Hi May! Yep, they are still occurring!

1: Every Friday morning @ Smoky Row on Cottage Grove at 7:00am

2: 2nd Tuesday of every month at the Iowa Tap Room Downtown at 5:30pm

There's a Des Moines Investor Facebook group you can join to get reminders about when the events are occurring as well.

Post: Smart Lock For Sliding Door - Short-Term Rental

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16
Quote from @John Underwood:

Not sure that there is such a thing which would make using sliding door inconvenient. 

You could replace this door with French doors.


The layout of the property is set-up where the parking is in the back of the property. It makes more sense for guests to enter through the back door which is the sliding door. From my perspective, that's what makes it inconvenient as they would have to walk around the property to enter.

My initial thought was a smart lock for a sliding door would be the best route to go but researching more, it doesn't look like that will be an option as none of them integrate with Airbnb from what I have found.

Post: Smart Lock For Sliding Door - Short-Term Rental

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

I have a short-term rental that is set-up for guests to enter more conveniently through a back sliding glass door. I am having trouble finding a smart lock that integrates with Airbnb that is also for a sliding glass door. Has anyone else ran into this situation and/or do you recommend a smart lock that would work for a sliding door AND integrate with Airbnb? Thanks!

Post: Cost of PM

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

We charge 25% in Des Moines, IA. 100% agree with Andrew Steffens as well. Ask a lot of questions about how the PM company is charging their fee to you as the owner as there are many different ways it can be calculated.

Post: Live-In-Flip - Rural Iowa

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

Investment Info:

Single-family residence fix & flip investment.

My wife and I bought this single-family home with intentions to do a live-in-flip. Our plan is to sell if after years to avoid having to pay for the capital gains taxes.

What made you interested in investing in this type of deal?

I was more interested in living in a duplex to 4-unit, but the wife didn't want to have that close of neighbors. So, we were able to compromise on doing a live-in-flip.

How did you find this deal and how did you negotiate it?

We found this deal on the MLS and used a local realtor. Interestingly enough, the home was being sold in as-is condition. We still were able to negotiate with the sellers. So, even though a home is being marketed as is, doesn't mean you still can't negotiate.

How did you finance this deal?

Conventional 30 year loan with a 5% down payment.

How did you add value to the deal?

We renovated the home.

What was the outcome?

We have yet to sell the home, but we are expecting a good return on investment.

Post: Seeking advice for property manager & renovator

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16

Hi Chelsea! I'm a local realtor and investor here in Des Moines. Here are a few property management companies in the Des Moines area. Highly recommend you vet them as needed as I haven't worked directly with any of them. I own a duplex my self and self manage it. 

-KLC Property Management

-Renters Warehouse

-Property Management Inc (PMI), Central Iowa

I also am a co-owner of a short-term property management company called Des Moines Short Term Rentals. If you have any interest in discussing what that might look like, I'd be happy to chat with you about it!


As far as contractors go, I would join the 'DSM Real Estate Investing Meetup' facebook group to find what you might be looking for on that end of things. Hope that help!

Post: What Is A "Good" Occupancy Rate For STR's In DSM

Andy AlgreenPosted
  • Realtor
  • Des Moines, IA
  • Posts 41
  • Votes 16
Quote from @Michael Baum:

It's always a balancing act. High occupancy doesn't always mean your rates are too low. Low rates doesn't always guarantee higher occupancy.

I am always looking at other properties on the lake to see how we compare. We are very seasonal and we are at about 59% for the year, year over year so I am happy with that.

Knowing your area is key.

Agreed, definitely a balancing act between occupancy rate and average daily rate.