Lucrative investment opportunity in Burlington, IA

[Alex Bock]

Iowa is well known for it's "Fields of Opportunities'', and this deal is no different. This property boasts returns of 19+%! This in addition to the lowest available property management rate you're going to find in the area (3%, And YES you read that right) makes for the picture perfect passive income vehicle. The property includes a 9 unit apartment building and a 2 bedroom sfh on the same lot. The buildings are in good shape and are fully rented. All utilities with the exception of water, sewer and trash are separately metered in the apartments. Gross rents for this property are $4670 a month! After approximately $1700 in monthly expenses, this leaves almost $3,000 a month in cash flow. The seller and would be property manager has many more single family houses in Burlington he would like to sell from his portfolio and would offer the same management services on. The 2 others that could be sold in a package with this deal offer a 12% ROI. I had the opportunity to drive down to Burlington from Davenport a few weekends ago to meet with the seller. We toured several of the properties, he showed me around the town and I had a chance to talk with him for a while. He is a very hard worker and is motivated to keep his business as a contractor going in addition to continuing to serve his tenants who seem to like him a lot (I also got to talk to a few of them). I plan to continue to build a relationship with the seller and provide a steady stream of cash flowing properties as he sells his portfolio off. $185,000 takes the prize on this one. Analysis is attached, contact me today with any questions and let's get you a deal! Welcome to Iowa.