Investor · Des Moines, IA · Member since 2014 · 238 posts · 230 votes
10y
@Robb Spearman I couldn't agree more; DSM and WDSM are absolutely fantastic. I am a full-time investor, wear a real estate broker hat, and run a construction company with family. We relocated here from Chicagoland and haven't looked back... Live, work, and play in Des Moines which makes it relatively easy to keep a finger on the steady city pulse.
The cities (including most of our "suburbs") are so vibrant and it is relatively easy to make connections throughout. Right now, deals are scarce and investors are plentiful. Think the cat might be out of the bag but... the deals are still out there with a bit of looking and patience. MLS marketed properties with much investment potential are far and few between. Just don't get caught by the slight inflation this summer's lack of inventory has produced... Evaluate each "deal" based on your verifiable numbers, design capabilities, and return requirements.
Designer/Contractor from Riverside, CA · Member since 2015 · 56 posts · 26 votes
10y
Valerie Nygaard that's awesome! What type of property did you buy? I have lots of family in that state and was considering investing there too! A great excuse to visit! :)
Investor · Saratoga, CA · Member since 2016 · 5 posts · 4 votes
10y
Hi Christina! I bought a SFR, my childhood home, actually. :) It had been out of the family for years, so when it went on the market, I decided to buy it back.
Humboldt, IA · Member since 2013 · 58 posts · 5 votes
10y
Are you interested in anything outside of Des Moines? I'm in Humboldt Iowa. In the not to distant future a company called Hogslat will be building a large production facility in Wright County. They will be hiring 1200 jobs. Housing in the surrounding areas are already scarce and the ones that are for sale are going for pretty cheap. In fact I may have a decent HUD owned house that recently dropped 10k in asking price. It was a sheriff auction home but in pretty decent condition. IF you are interested let me know I may be able to get more information about it.
Investor · Des Moines, IA · Member since 2014 · 238 posts · 230 votes
10y
@Robb Spearman I couldn't agree more; DSM and WDSM are absolutely fantastic. I am a full-time investor, wear a real estate broker hat, and run a construction company with family. We relocated here from Chicagoland and haven't looked back... Live, work, and play in Des Moines which makes it relatively easy to keep a finger on the steady city pulse.
The cities (including most of our "suburbs") are so vibrant and it is relatively easy to make connections throughout. Right now, deals are scarce and investors are plentiful. Think the cat might be out of the bag but... the deals are still out there with a bit of looking and patience. MLS marketed properties with much investment potential are far and few between. Just don't get caught by the slight inflation this summer's lack of inventory has produced... Evaluate each "deal" based on your verifiable numbers, design capabilities, and return requirements.
Los Angeles, CA · Member since 2016 · 3 posts · 0 votes
9y
@Valerie Nygaard I am looking into doing the same thing. My aunt lives in Des Moines and I'm in Los Angeles, wanted to buy something but need to know what rentals are like out there. I hear that its mainly SFR but I was thinking of looking into MFR as an investment. Has your place rented yet?
Investor · Des Moines, IA · Member since 2013 · 137 posts · 49 votes
9y
@Mariya Ilitsky there is a huge boom of multi-family housing occurring in the Des Moines metro. It would worry me from a multi-family perspective. Frankly, it worries me about SFR too... They are building thousands of apartments close to downtown.
There seems to be a very high percentage of investors here, including new investors (that includes me!) which also makes it a bit difficult to get good deals.