All Forum Posts by: Shawn Faris

Mark your calendars for another Quad Cities real estate investing meeting on Tuesday October 29th from 6-8PM at the Stardust in downtown Davenport! We had a great turnout and an excellent event for our last meeting, lets see if we can keep this going. This month we have another Guest Speaker Chris Heller who is the Vice President at Blue Grass Savings Bank. Lending has been a hot topic over the last few months at meetups so this will be a great opportunity to learn more. Whether you are a seasoned investor, new investor, or somewhere in between come prepared to meet new like minded people, share your knowledge, learn from others, and overall just have a great time. Please reach out to Shawn Faris or Alex Bock with questions.

@Alex Bock

Attention Quad Cities Investors!!!! Mark your calendars for another Quad Cities real estate investing meeting on Tuesday September 24th 2019 from 6-8PM at the Stardust in downtown Davenport! We have a special guest Lucas Dengler w/ Modern woodmen to talk about Insurance and wealth management. This will be followed by general networking. This is a great opportunity for seasoned investors as well as those still looking to get started. Please reach out to Shawn Faris or Alex Bock with questions. Don’t miss this great opportunity to learn and network.

@Michael Dolan

No guest speaker for this month. This will be mostly a networking opportunity.

@Austin Whitmore

@Christina Colon A couple thoughts for you as my wife and I recently just made the same decision on our newer construction personal residence in Le Claire which was worth about $365k. We chose to rent it.

1. Cash flow of $150-$200 is really tight depending on how conservative you were with your assumptions. What vacancy rate did you consider? Ours was listed for rent for about 3 months this spring (luckily 2.5 we were still living there). What is your assumption for monthly rent? Sure, your expenses will likely be low for new construction which is a huge plus. We are cashflowing about $750 per month on ours which leaves some room for these assumptions. Time of year is going to be a HUGE factor for renting, I wouldn’t want to be trying to rent something in this price point out between October and March.

2. What is your competition for rentals in this price point? For us, the developer is renting many properties in our subdivision BUT we by far have one of the best lots/locations so he was just bringing more attention for us. Lots of competition can drive your monthly rent down.

3. Depending on how much other new construction is available where you are and their pricing, if you chose to sell you may need to be priced below them, so you will want to be sure you can confidently get what you are looking for. Bettendorf has a ton of new construction in the price point you are talking about. My wife is a local real estate agent and her experience has been that her clients tend to go with new construction over  existing every time in Bettendorf if price/location is equal. 

I don’t want to scare you from choosing rental path, but just make sure you are being honest with yourself on your assumptions. 

Shawn Faris

@Alex Bock

Mark your calendars for another Quad Cities real estate investing meeting on Wednesday August 7th from 6-8PM at the Stardust in downtown Davenport! We had a great turnout and an excellent networking event for our last meeting, lets see if we can keep this going. Whether you are a seasoned investor, new investor, or somewhere in between come prepared to meet new like minded people, share your knowledge, learn from others, and overall just have a great time. Please reach out to Shawn Faris or Alex Bock with questions.

@Tara Kinney we are currently working on setting up. We have struggled a bit with getting a speaker lined up, but hopefully we should be able to pick a date soon.