All Forum Posts by: Denyse Dar

@Nidal Daraiseh See above for 2 posts re all I know and then research/research/research!! We’ve all heard the axiom, “follow the money.” When ALL 4 of the largest, most powerful corporations (Google, Apple, Facebook and Amazon) set up shop somewhere...follow.

@Whitney Bowling you know my company well..you’re surrounded by it in Phoenix :D I don’t know what that region does in terms of model lease backs but contact Lexi Oium. Here, everybody wants the model (they’re staged beautifully) so they go for top dollar so no incentives or alternative deals on those here. But even if not, ask Lexi to at least connect you with a specialist. You want to specifically ask the specialist for first dibs on the quarterly price drops; specifically any community closeouts. We know about them sometimes as much as a week in advance and we each have preferred clients we give first dibs to. No matter where you live, it’ll be an awesome deal in that market. Happy to connect. Im all about info sharing!

@Thomas Lo absolutely! We’re all looking to do the same thing in the spirit of sharing and encouraging. Wishing you great success!

@Whitney Bowling it’s having a NUTSO economic explosion with projections for at least the next 5 years. It’s part of “silicon prairie.” Des Moines was a very small city...looks like the hay day was in the 40’s. It been the seat for insurance companies - until recently. Within the past few years Apple, Google (both those to the west des moines area) plus Facebook and now Amazon (to the east of Des Moines) have put down HUGE roots. Facebook is on its 5th building and Amazon just started a 5-story distribution center. Amazon alone needs 1200 workers per shift. But Des Moines already has one of the lowest unemployment rates in the nation (hovers around 2%.) The housing market just hit a less than 3 month supply for the 2nd time.

My company is the nations largest builder (operating in 29 states) and #1 for the past 12 years. Corporations of this size do not set up shop unless they are SURE it’s lucrative. Im here because we are starting a new region to target silicon prairie. Starting in Des Moines and spidering out to the other metro areas like Omaha, Cedar Rapids, etc. Generally my company follows where those 4 corporations go because they know it means new jobs/employees create a demand for housing. The amount of land my company has acquired in Des Moines is in the billions - and they’re buying more. We started 22 communities this first year. Goal for this December is 35 single family home communities and 20 rental communities. Pulte & Lennar are here now scouting for land so they can follow.

The flips are far and few here - you can’t recapture market rent in Des Moines proper because of schools and how much cash you need to fix up a 1940’s. So strategy here is picking up new construction as executive rentals and buy & holds. My company does quarterly price drops on inventory over 90 days. When a neighborhood is almost completed - generally 3-4 houses left - they are hard to sell (we arent sure why but it always happens!) By then, they become an AMAZING deal. So for instance, I just bought my first close out; a 320k new home with all appliances (including washer & dryer) and blinds for 257k. I know some folks use hard money etc but I use mortgages for write off so took a USDA rural development loan for 2.99%. It’s about 5 miles from Facebook|new Amazon buildings in an area that has a 3-year tax abatement on new construction. The home has unfinished basement rough plumbed and studded for additional bedroom and full bath.

Do a search on Des Moines...you'll see lots of reports on the market here and what's going down. If it winds up being an area you want to look at closer, just PM me and I'll tell you areas to zero in on based on what you are looking to do. Seriously incredible potential out here and almost no pre-existing investors. Crazy but boy am I thankful! REI in New England was so over-saturated it was hard to find anything. Here, it's just laying around

Not to throw a stick in the proverbial spoke but look at Des Moines :)

I’ve relocated to the Des Moines area from New England because it’s an anomaly. Where the seaboards are over-inflated/saturated markets, here the economy is exploding. They cant keep up with the housing demand so national builders are swooping in. I work for the first one here so Im picking up their close out homes (they do price drops each quarter to move aged inventory so I got a 320k new home for 250k) as 3-year Buy & Hold properties. Most investors here are doing them as executive rentals/temporary housing. Im here working this area while waiting for the next crash so I can go back and buy in those over-inflated markets. 🤷🏻‍♀️

Des Moines Iowa of all places...no joke..its exploding! Google, Apple, Facebook & Amazon have all recently put massive roots down here. Best areas for schools n culture are West Des Moines (akin to Scottsdale AZ) or Ankeny. Best REI investing (which I do) is Waukee, Bondurant & Altoona

I used to do long term flips in FL. But everybody and gawd is doing them now. So I’ve transitioned to shorter term Buy & Holds (single family new construction) in Iowa. Their economy is exploding. I picked up a 320k new home for 257k with a USDA rural development loan (2.99%) and a 3-year tax abatement. Facebook & Amazon just moved to town so Im just kicking back, finishing the basement, landscaping and waiting to pull the trigger in 3 years when Amazon is finished. Hopefully that helps the brain food?

@Austin Montgomery An IRA will never net the kinds of profits REI will. Actually, my ROTH is a waste compared to my REI so I stopped contributing. My last REI (1 single family home) net me 120k in 5 years. While my ROTH IRA completely tanked with the housing crash. If you feel the need to invest in funds like that over riskier REI...then look into investing in REIT's (Real Estate Investment Trusts.) Specifically ones that do farm lease-backs. Those traditionally net about 17% annually. No IRA is ever going to do that

Im a new construction specialist/private REI investor working for a national builder in the Des Moines area. I used to do long term (5 year) flips in FL and now do shorter term (3 years) Buy & Holds. I picked up my first single family new construction - 60k below appraisal with a 3-year tax abatement. I just wanted to give a head's up about the REI opportunity in the area. It's NUTS and given the scarcity of flip/wholesale/off market inventory, I know someone out there will find this both useful and lucrative.

Des Moines, IA and Omaha, NE have been coined “Silicon Prairie.” Google, Apple, Amazon and Facebook have all recently put MASSIVE roots down. Google & Apple to the west (look in areas of Waukee for investment) and Facebook & Amazon to the east (look in Bondurant & Altoona...they have tax abatements and the greatest growth!!!) The other town to look in is Ankeny.

The resale supply in the area just fell to a critical 3-months worth (average is 6 months) and the unemployment rate is one of the lowest in the country. There are more jobs than people and these corporations are demanding even more so the influx of millennials has begun happening. Which is creating an epic demand for housing. We can’t build fast enough. Two other national builders are actually out here scouting our stuff so they’re probably about to put a foothold here too. Big corporations like these don’t flood to a place unless they’re sure of the numbers..so follow the money!

Im seeing a ton of investors from other states breezing in. They’re scooping up to 20 townhomes at a time. Others are picking up 3 & 4 single family homes at a time to use as Executive rentals. Both groups seem to be picking them up as interim housing for folks moving here for jobs. Well, except one woman who was doing AirBnB for the caucuses. Anyway.

I don’t know the Omaha market - I would imagine it’s worth a similar look. I just can’t speak to where to look etc. But you are welcome to pick my brain about Des Moines if you wind up considering it. Do your research and happy investing all! ;)