Finally getting started in Central Iowa

4 Replies

Hello BP Members,

I'm finally at the "take action" phase of beginning my REI Career. I've been studying REI for the past year and a half, thru books, online articles and such (Just found BP about a month ago!).

My overall goal in REI is to create cash flow thru rental properties (Single Family, Duplex, Commercial..). While that goal is the ultimate goal, I first want to get my feet wet in other areas of REI. I've read a lot on wholesaling, double closing, fix and flip. Let me give you a little background on myself..

Graduated from High School in 2003 from my home town.

2004- With my Father, started Phoenix E-Waste Solutions.  An electronic recycling company located in Marshalltown, that handled outdated electronic waste from local communities, schools, etc.  We took the company from 2 part time employees (ourselves) to 14 full time and 4 part time employees at the peak in 2008.  In the spring of 2007, we decided it was time to move from our older facility and build all new.  With the help of local economic development funding we started what would be a nightmare of a project, that would in turn be the end of our business.  I learned very quickly how to not handle contractors.  We had went all local, but it took until late 2008 for our new state of the art facility to be built.  Of course we all know what happened in 2008.  This unfortunately strapped us and forced the closure of our business.  Looking back, I know exactly what we needed to do, and have taken that lesson and put it in my pocket for further adventures.

I'm wanting to get started, not exactly jump in head first and take on a project that I cannot manage, but get my feet wet.  I'm centrally located in Iowa, which leaves me an hour from almost every large city.  I feel this can be advantageous for managing projects in multiple cities when the time arrives.  

I'm wanting to start small, with the right property.  In my hometown we have a lot of single family homes.  I'm very familiar with a lot of the property in town, I just haven't came across "the one" yet.  When I do find it, that will dictate which direction I go.  As I said, my overall goal is to own rentals to have recurring cash flow.  I'd also like to be actively flipping houses within my target market.  

What groups meet around the Central Iowa area that would welcome me?  Are there any investors looking to partner with a new-comer in this area?  

I look forward to hearing from the BP Community!

Brett

Hi Brent,

Welcome to BP!  I grew up in Des Moines but I live in Denver, Co at the moment.  If you're interested I have a property in Des Moines I'm trying to sell right now.  Great option for the area and we've even interviewed a bunch of contractors to find a great one. 

Visit: https://www.biggerpockets.com/forums/517/topics/26...