Just a curious question for my fellow investors in Iowa, specifically the Cedar Rapids area... 

We saw this happening in late 2011 to 2013.(2) Expansion: Rents rise rapidly toward new construction levels; High rent growth in tight market.

Housing and basic cost of living in the five boroughs has risen much more rapidly than incomes earned by most middle-income New Yorkers.

It's really quite amazing the rapid growth - and because most lots are now either 1/4 or 1/3 acre lots, and ours, as with most of the "older" homes are built on 1 acre lots, our homes value has nearly tripled.I wish, as do my parents, that we would have invested in real estate when we first moved in....we would be sitting pretty if we would have.

My motivation was to build a rental property business that would allow me to have a semi-passive cash flow that would support my lifestyle and rapidly build wealth for retirement.With rentals, I "make money" at least 5 ways:1.

i think it would be good to research the area...if like you said the area is rapidly developing.....then it may be a good buy...some things to think about....is it in the city or the suburbs....why is the new developement happening?

Fortunately, the newbie landlords have been washed out of the market in large numbers and those people that got gimmick loans are rapidly becoming renters again.

Be careful....the market is changing rapidly.

Changes in your available credit to current balance ratio will not be updated immediately in the month the payment is made and can take anywhere from 30-60 days to get updated by all three bureaus...The only way you can guarantee an "immediate" change to both your credit balance ratio and score is to do a rapid rescore (in tandem with a financing event---rescoring can only be done by lenders).Regards,Scott MillerOriginally posted by "beekrock":Thanks, guys!

The vast majority of rentals are bought by mom and pop "investors" who pay retail; lose money; and rapidly go out of business.