All Forum Posts by: Jeff Johnton

Tony, I'd assume 10% mgmt fees. I paid that amount for a rental That's why I was wondering if you'd found someone else. 😉

For insurance is had a 4-plex several years ago and the insurance was $2,200/year. There are factors that can change the amount. I sold that in 2015 I believe.

If you can, get tenants to pay for everything. Water etc..can really sneak up on you. I recently looked at a 4-plex. Owner paid water and gas. Current owner let me know that came out to about $500/month! When the rent collected is about $2,500/month that is a big chunk!

Hey Tony, where did you get 7% management fees? If you have a property manager lined up, please share their info.

I'd like to add something to the development that Henry is talking about. Glenwood, IA is roughly 20 miles away from Omaha, NE/Council Bluffs, IA so there is access to 'city life' if that is a concern. Good access to interstates (I29 and I80). I used to live about an hour from there growing up. 

Private money will probably be the best way to go, at least until you can be consistent. 

Shop around for private money though. The costs can be very different!

Hey, welcome to the area.

There are cash buyers around here. Get your name out there, start a list of buyers.

If you have a deal and you shop it, buyers will come!

Thanks Gavin and good luck to you!

Are you saying you can do multiple flips at a time and the bank is ok? How do you have so much available credit? High income or low debt or both? Don't have to give details just curious from a high level. Or is the bank just loose? Which institution are you using?

Good morning! We are going to start on our third flip home and I do have to say the market can be pretty tough. Our first flip we beat out 9 other bidders. The third one we will start on we found via estate with our agent. 

I sold a 4-Plex with this agent and this will be the third flip home I've worked with them on. I trust them, not only with deals but to do what is RIGHT. That's key for me, no shortcuts. Building a reputation can take months/years while it can be destroyed in a very short time.

Hey all, first post for me! I am located in Clive,IA which is a suburb of Des Moines.

I have a rental property (4 units) I use a company cslled Real Property Management. They seem ok. They just changed their fees a little bit. In addition to a 10% monthly rental fee they now also charge 50% of first months rent. I am altering my lease structure to 15 months instead of 12 to help that a bit.

Contractors I have used include Superior. Josh Spencer heads this up. They will do door installation all the way through building a custom home. I have also used Chris Hunt with Double D Construction.  He is a one man outfit but did good concrete work for me.