All Forum Posts by: Greg W.

I'm going to side with keep it. Why? You aren't making much money right now in your W2 jobs and this is just another stream of income and is somewhat replacing your husband's income.

You say getting re-established cost a lot with cars and such. Do you have payments on your cars? Maybe you can sell those and buy some older vehicles you can pay cash for.

If you need cash for some reason, you could cash-out-refi the Denver property.

The only issue would be, do you have money for capex if something were to go out and you need to fix it? Maybe the refi is that cash.

Selling and then investing in Iowa is fine but you say you aren't sure you'll be in Iowa long-term. So then  you would be in the same situation as Denver (long-distance landlord), which has gone fine but you don't seem to want to do but your husband does.

You could sell the condo if it isn't making much and need some cash or AirBnB it if it's near you and make sense to do that to increase the cash flow.

Thank you @Christopher Salazar and @Eric Y. for the additional votes on realtor's and PM's! It's great to have a couple of good places to start my search. Chris, I like the Arsenal name for your company, possibly paying homage to the Rock Island Arsenal.

Thank you @Michael Pease and @Meghan McCallum for the information on property management and an idea of where to invest in the area. That's really helpful. Do either of you have any recommendations for realtors?

Hi Michael,

I don't currently have any properties in the Quad Cities but am planning on it. I wanted to find a property manager first, find out the areas where PM's would like to have additional properties that are in demand for quality tenants.

Does anyone have any recommendations for property managers in the Quad Cities?

Thank you for the information on the cap rates. 4-5% isn't terribly enticing. Are you talking about larger MF, duplex/triplex or all of the above?

There seems to be a lot of house conversions in the downtown area of Lincoln that are bought and sold frequently. 

@Stephen Anthony What makes you say MF is overvalued in Lincoln right now? What are the metrics now and what should they be when "normally" valued?

Here are a couple of articles on the subject. The hotel lobby was very pleased by the passage of this bill and it appears that one legislator, the bill sponsor, has an interest in some hotels.

http://alextimes.com/2017/02/general-assembly-progresses-on-area-airbnb-regulations/

Opinion article on page 18 of pdf.

http://alextimes.com/wp-content/uploads/2017/02/02_23_2017-Alex_Times_Final-Web.pdf

The only issue with these is if you need to redo siding, roof or other common/shared items, you and your neighbor have to agree on paying for it and coming up with the money. This is where the problems come in and why these are priced lower than a typical townhome or SFH. I would steer clear unless you are able to purchase both sides so you have complete control of the property.

Buy a four plex in Fridley, move in and get owner-occupied financing.

This one just listed: 7150 Central Avenue NE, Fridley, MN 55432