All Forum Posts by: Brian Campbell

Hi Garrett,

I'm an investor in Mason City. Let me know how I can help!

15 yrs.

Hi Tucker. I live and invest in Mason City. We have 26 properties both sfh and multi family. Let me know if there's anything I can do to help.

Spencer is a smart dude and knows the market well!  I would agree that it would be difficult to get over $850/mo rent for a property unless it is a very unique tenant situation -- maybe a professional worker with a higher income that would want to rent your larger home and is not wanting to buy right now.

Hi Julie and thanks for bringing this to my attention. I've tried to change my web site to www.northiowahomesolutions.com  but wasn't able to figure it out.

Our little neck of north Iowa is well represented in the BP community! Hi Shelby and welcome!

• 50% Below Assessed Value
• 5 Unit Multi-Family Apartment Building (Two-2 Bedroom/3-1 Bedroom)
• Current Gross Rent: $2,000
• 100% Occupied
• Property Qualifies for Corridor Revitalization Loan (CoRL) Program. This is a forgivable loan, which provides up to $30,000!!! Grant money can be used for updates/improvement to property.

• Asking: $35,000

I have locked up a property that has been converted into 5 apartments. I am interested in creating a note for this property where I sell it to another investor. I have some experience selling properties on a land contract but not a note and to be honest am not sure how they are different. I talked briefly to another investor that suggested I sell the note for 49-59K at 9.5% interest. My head was ready to explode after a short time of discussing this with him.

I have a purchase agreement for 20K. A very appealing factor with this property is that the city where I live will give the owner up to a 30K grant for improvements to the property if the owner keeps the property for 7 years. My rehab est is 60K. Gross rents are 2k and owner currently pays all of the utilities unless separated during the rehab.

My exit strategies are to keep the property for the cash flow, wholesale the deal, or sell with a note (which I have very little understanding of).

I really like the idea of passing this deal off to someone else as I could use the upfront cash for another project.

Any suggestions/help on selling this property with a note would be appreciated. Thank you!

I have a singed PA for this property. I am looking for my options and would like some feedback regarding this being a deal or not. My thought on potential options would be...

1. sell property to a cash buyer - possibly someone from this site as I don't have a cash buyers list yet

2. partner with a wholesaler and split the deal

3. partner with a rehabber and split the deal

Suggestions from experienced investors would be appreciated.

Thanks!

I would like to expand my wholesaling/lease option program to the Des Moines market and am wanting to connect with a realtor to help me with this. The realtor would need to send expired listings and help in marketing the properties we get under contract. Please let me know if you want to talk more about this.