All Forum Posts by: Zachary Kowalik

Dennis - Great point about property tax reform in iowa. We suffered from rates much higher than national averages, and this change is a step in the right direction. I would love to position myself to take full advantage of it, but ill have to be patient since I am starting with very limited capital.

Mehran- Thanks for the welcome! I do have some hands on experience but I have much to learn if I want to run the show. Hopefully I'll find it on BP!

Elizabeth- Thank you for the warm welcome! I look forward to learning a lot on BP

Jeremy- I will certainly check that out! It's nice to meet a fellow Iowan, what kind of investments are your specialty?

Paul- Sage advice sir. In this town some people are paying $400/mo or more for a bedroom in a "D" residential home. Ill be on the lookout!! And on your last piece of advice, are you referring to management or subletting?

Thanks everyone

Thank you both for your insight. We will certainly have a rock solid contract and its good to hear views on both sides. This is a short term arrangement and I don't intend to structure any deals this way in the future. I trust my dad and it seemed like a way to get started with low risk and not much money.

Hello, I just introduced myself in the new member area so this is my first official post! My first “investment” in real estate is underway and it is quite unique. My father owns an apartment complex and he gave me a generous offer. He will lease me one of his distressed units for a reasonable fee and use those profits to pay for the materials needed to rehab the unit. I will provide all of the labor and as my payment I have the right to sublease the property and collect rent. Any net cash flow (maintenance and repairs will now be my responsibility) will be mine to keep. Has anyone heard of or done this before? Any advice? Legal implications? Thank you!

Hello, My name is Zach Kowalik and I live near Ames, Iowa home of Iowa State University. The city has unemployment hovering close to 3% and a college rental market so robust that many students claim they can’t find a place to live. In other words, it is a good place to invest in real estate…if you can find a deal. I am 23 years old and worked full-time as a mechanic for 5 years, but currently I am a student working towards my undergraduate in Finance. I am married and thankful that my beautiful wife supports my interest in real estate! I plan to build my portfolio as a hobby with hope that it will allow me to be self-employed/semi-retired by age 50. My experience in real estate started when I begin doing rehab work on Fix and Flip properties for my father. I have since done work for a few other investors as a hired hand. I also have a limited amount of experience managing one property that my father owned and I now plan to start investing on my own. My initial goals in real estate are to learn as much as I can and start small. I have one unique investment underway (more on that later), and I hope to do one wholesale before I graduate. I also hope to start a REI Club at my university. I plan to focus on cash (fix and flips, wholesaling) early on, and then shift my focus to cash flow (Fix and Hold, Buy and Hold) as my net worth grows with time. Of course if a good deal comes along the formula may change. Also, I am fascinated by “unconventional” deals and I regularly look for unique new ways to make money in real estate. As a newbie I would love hear your thoughts! Any investors in central Iowa?