All Forum Posts by: Samuel Brant

Anyone have any experience in the Des Moines area working with a short sale and negotiating that with the bank? I have a deal I am working on and need some real-life experience on the next steps.

Thanks in Advance,

Sam

I am currently working an off-market deal. I have the seller and the end buyer lined up. I was planning on doing a double close to hide the amount of money I would be making.

Do you see any problem with the end buyer getting financing on this property when I do a double closing? Besides the typical appraisal contingency. Is there something I am missing here with FHA financing?

Hello BP community,

Lately, I have been throwing the idea around of doing an Airbnb arbitrage in my local market of Ames, IA. I have a few long-term single-family houses, but I have never jumped into the short-term rental game. Any tips, tricks, or suggestions for a newbie? 

- What platform/website do you use to project occupancy, average nightly price, gross income, etc?

- What automation can I use to take care of check-in, check-out, and setting up time with cleaning staff?

@Mandy Adams I currently invest in Central Iowa, Ames IA specifically. Central Iowa has much lower entry points to start investing with properties still coming close to the 1% rule. I actually just helped a client of mine also from Hawaii buy his first duplex here  :) If you ever want to chat about the market out here feel free to reach out! 

Hey wholesalers and off-market wizards,

I have been cold calling in my local market, directly with sellers, but I have struggled to find useable data. As of right now, I have been using REI-Skip trace to skip trace my driving for dollar list. What is the best skip-tracing service you have found that finds phone numbers actually in service?

Any and all feedback is welcome!! :)

@David Mulholland I have been investing in the central Iowa market, I have found my niche, in the college rental market/single-family rentals. With dipping my toes into the small multi-family. If you would want to connect I would love to talk. The barrier to entry on investment properties is much lower than what you are probably compared to Denver. With less capital needed to get started!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $186,000
Sale price: $186,000

Recently was able to close on my 3rd Ames, single-family investment property 6 blocks away from Iowa State University. This 4 bed/ 2 bath I was able to find on the local MLS, with value add potential in the basement. Which I plan on finishing out the basement. Was able to get this 100% financed using equity/collateral from another asset. By far this has been my best deal yet! Rents for $2000 dollars a month and had it rented out two days before I closed on it! #cashflowcapital

What made you interested in investing in this type of deal?

Ames has great cash flow with a strong economy including, ISU college, DOT, farmers, and the hospital!

Lessons learned? Challenges?

Never step over dollars to pick up some pennies!

@Kyle SchweryI bought a single-family home back where I grew up in Carroll, Iowa. I used it as my primary residence for a while and then moved out and rented. I did some simple touches up and took great pictures and had no problem renting it out. When people find out in small towns you have high-quality rentals your name spreads like wildfire. Taking extra due diligence is required though, your pool of A-B tenants is much smaller and I would make sure to do extra screenings before choosing the right tenant. 

A big advantage of a smaller town is you won't have city officials breathing down your neck with rental inspections.

Hey Eli, I love to hear you are starting to invest in Real Estate! Honestly, when I hear your story I think a lot of myself when I got started! I bought my first property in my last year in college at ISU! If you would like to chat and connect sometime I would love to help you along the way! :)

Hey Micah, I work in the Central Iowa Market. With the amount of money, people are trying to invest right now with rising inflation, deal flow has definitely taken a hit everywhere. If you would like to get to know each other please feel free to reach out!