Considering Des Moines, IA as a potential investment market. Any insights?

[Cole Rorebeck]

Hello! I am a real estate agent, and single family home investor located in north central Missouri. I currently operate a portfolio of 18 single family homes in a small town. I have been learning about the efficiencies that come with commercial multi-family and plan on making the transition in a few years. Currently I still need to narrow down a market to learn about, and have been considering the cities in my local vicinity (3h drive). This would include Omaha, Des Moines, or KCMO. Out of these I feel the most drawn to Des Moines, I just visited there last week and really enjoyed my time visiting the downtown market as well as the botanical garden. Looking to connect with anyone in this area who can hopefully help me break into this market in the coming years. 

[Ernst S Coriolan]

If you want to hear more about KCMO or KCK i'm more than happy to give you some insight. If you ever have time to visit the area i'd also enjoy showing you some of the more unique areas. Feel free to reach out. 

[Jared Husmann]

I'm an agent who has 15 years of experience and specialty in multifamily investing (and used to own a portfolio of SFR of more than 72 doors, now I own all commercial). Happy to discuss all of the benefits of Des Moines, IA and what we have to offer!

[Diego Ortiz]

If you are interested in the Omaha market I am more then happy to share some insight. 

[Brock Hill]

Hey Cole, I live in the Polk County area here in Iowa and have lived around the Des Moines Metro my whole life. I do not know how much I can help with commercial multi-family as I have no experience in that regard but I can help with area specific info and help answer or find answers to questions you have with investing in the Des Moines metro. 

[Ashley Noethe]

Hi Cole! I am a realtor in the Des Moines metro and have a few investments. We have a 5-unit commercial multifamily in Indianola that cash flows fantastic, but is an older property. You'll find that, like anywhere, it is hard to find both cash flow and appreciation properties so it depends what you are going for. The city of Des Moines and most of the metro areas do have rental inspections and certificates required unless you focus on a smaller rural area less than 15,000. In Indianola (15 miles south of Des Moines) they just started rolling out inspections given our population growth. All that being said, I love this market. It is growing, it is comparatively affordable, and was just named the #1 metro area for young professionals and Iowa was named #1 state to retire. What is your budget? 

[Matt McCurdy]

Cole, I was born and raised in the Des Moines area.  Des Moines has seen some significant growth in the suburbs and investment in it's downtown core.  I don't see an end in sight, especially with the governor dropping state income taxes over the next few years.  I see the job market continuing to be robust with companies continuing to invest in the Des Moines metro area.

I have a couple of rental properties in Des Moines, but I primarily focus on Cedar Rapids (smaller scale and 2 hours east of DM), but I like it for it's lower price point entry on housing and it's positive momentum it is seeing (just like DM).  Best of luck deciding on a market, I don't think you can go wrong with DM!