All Forum Posts by: Cody Kauzlarich

@Jason Lewis they turned down 80k so I'm assuming 63 is out of the question, but I am curious how you came up with that number?

@Tyson S. I agree. There are good deals to be had but more appropriate, it seems, for either rentals or owner occupant. Not enough meat on the bone after you factor in realtor fees, closing costs, and holding expenses. If it were your full time job and you were able to rehab maybe one a month then around 7k doesn't seem as bad. 

@jedd braunwarth, actually I would do the majority of the rehab myself. But same, hire out plumbing, electrical, and HVAC. My dad is a contractor and has a construction company in Centerville, so I've got strong construction background as well as a great resource if I get in over my head on any one area. As difficult as ts been to find a property I'm happy taking a few extra weeks of rehab to save labor costs instead of rushing to finish a property to just sit around looking for another. 

@Jason CooperI'm not familiar with any wholesalers in the Des Moines metro but would be open to that option. Yeah, 5-10k just isn't going to cut it for me for the amount of risk. Plus, I can easily make that in 6 weeks just working overtime with obviously no risk. 

@Jedd Braunwarth, I believe I know which one in Valley Junction, on Locust I think,I had it estimated at more than that but had also considered it. I hope the one on Creston works out for you. I have been taking down addresses of properties when we're around town to compile a list of contacts. Maybe have to start going that route sooner than I expected to.

My wife and I are attempting to find a flip in Des Moines, IA to build capital for a buy and hold. We have made a few offers but have been unable to reach terms on any properties. We've been looking for about 6 weeks but have yet to find a viable option. Most of the properties we have looked at would let us basically break even if we close at the asking price. Since the seller has only moved a few thousand dollars on their price it hasn't left much for us with conservative estimates. Am I under-valuing properties, not looking in the right places, or do I just need to be more patient. 

http://www.zillow.com/homes/for_sale/Des-Moines-IA...

Here was a recent one that we placed an offer on. ARV=145k, Rehab=35k, Closing Costs, Realtor Fees and Holding Fees=20k

We offered 80k and hoped to clear 10-15k. Does it seem like we are too far off on anything?