All Forum Posts by: Darren Flater

Welcome fellow Iowa. I live in Dike and work in Cedar Falls. Id love to help with any questions you may have that are area specific. Ive been doing rentals for the last three years.

Hey welcome to the community. I live outside of Cedar Falls Iowa. I am a buy and hold investor as well. nice to meet you and reach out if you need any help

I agree with all the comments above. I never knew that slumlording was providing a nice home for people to live in while they work towards buying their own someday. It's funny how 99% of our tennants are very thankful we do what we do. Most people call us Mr. or Sr. Some people are just mad that they have crappy life's and hate seeing others succed. I just like to tell the mad ones how nice it is to have others buy all my stuff LOL.

if your looking at buying properties to hold and cash flow then there is really no big deal buying fully leased properties. I just purchased a four plex with 25 percent down and we are receiving a 12 percent cash on cash return.

Ann I am having simmilar results in Iowa. I bought a 4-plex last month and had two tennants move out. I listed it two weeks ago and have both filled with lots of calls still coming in.

thanks Brandon. I wonder if they could charge a misdemeanor on the tenant if they found the batteries missing or would the charge the owner with neglect?

I have an LLC for our partnership but again having a large umbrella policy will also help protect you.

I own my first rentals in my own name. If you're worried about liability just make sure to have a large umbrella policy. That's how I've been advised. We have been able to lock in 30 year loans at 4.85% with 25% down. That makes for great cash flow

Edgar. I'm doing a 50/50 partnership right now. He brought all the cash for down payment. I borrowed half that at 5% then I receive a 7% management fee. We formed an llc and are 50/50 owners in that and I pledged my 50% of the llc as collateral. That way if we don't pay he owns it 100%. We are keeping all our cashflow to reinvest in more properties. My partner is a business man who came to me after I've been buying for 3 years and said her wanted to invest but do none of the work. It's going great so far and are looking at a second deal right now.

I agree with the freedom to do what I want when I wan't. I also enjoy the game. Keeping my ears open and buying the property that all the realtors thought was junk and making it a solid cash flow property.