All Forum Posts by: Mallory Klindt

Hi David!

I'm a licensed broker and Property Manager in the Cedar Rapids area. Truly, I work with so many tenants and investors who visit the area and not only believe in investing here but want to stay long-term. We recently started into mid-term rentals last year and so far our 2 houses with travelers are on their 3rd attempt getting contract extensions because they love the area so much and the hospital systems they work for (both Mercy and UIHC) have been such wonderful experiences. One has even been trying to convince her husband to move here long term. I can help you with some websites, etc that really highlight all the area has to offer. We are more than Cedar Rapids. We are the Iowa Corridor and there is SO MUCH to offer.

Mallory

Hello,

We can take a look at your portfolio. We own a management company as well as full service construction and maintenance. We are not currently in Lisbon but do have staff that live there so it may work. 

Mallory

Hello! We manage over 100 rentals in the Iowa City/Cedar Rapids market, personally own 19, and help investors buy & sell. There is a lot to learn and consider when deciding what to invest in in our market including some things coming in the next few years. Personally we are migrating to Cedar Rapids more as I see Iowa City flatlining in rent rates and I anticipate even a bit of a decline in some pockets/types of rentals. Given the current prices to buy in Iowa City, I’d suggest you look at Cedar Rapids more. Specifically you can buy nearly turn key 3 beds for around $100-$120K and rent for $1250/mo plus but again, be very particular on understanding what to buy and the returns it’ll provide! Not all $100-$120K properties will return $1250/mo or greater! Happy to answer any questions you have but we have an incredible market to invest in if you know what you’re doing! 

Mallory 

Congrats! Sounds like a great home. We love the slab homes for investments both in Iowa City & Cedar Rapids. The right ones bring steady solid rent and a little $ goes a long way when you’re ready to update! 

 Hi Travis. I recommend Steve Anderson with Hawkeye Title in Iowa City. 

I've harbored a lot of guilt for this and really shy away from sharing because I simply feel bad for those that don't have access. In early 2021 I was really sick. So sick I had to go on short term disability. I have very good health insurance and live next to some of the best Dr's in the country. I saw 7 specialists, took countless tests and exams and no one could help me or find the answers. Because of Real Estate I was able to pay $8K out of pocket without flinching to see a Dr out of Oregon who completely turned around my health.  I could list the work freedom Real Estate gives, the vacations, houses, cars, and all the "nice things". All of the ways we're able to donate and help others but ultimately, I don't think you know wealth freedom until you've experienced losing and regaining your health because you simply had access to money.   

I'm not familiar with using the BP calculator since I use my own, but I'd have to see what's factored in for the expenses. A lot of things at play here to consider. First, is your area stable with strong growth year-over-year? If so that Cash Flow and CoC will naturally improve as rent's increase. Not to mention equity! While we have grown our portfolio quite well (we are up to 19 rentals currently and reach Accredited Investor a few years ago) we still feel small, invest conservatively, and make good decisions every single time. One thing we always plan for is Plan B. How quickly can we sell the property if it simply doesn't return what we expected (only happened once now in 14 years) and will we have a gain on Plan B (we made over $20K on the sale due to buying at such a good price). Remember, before you become too paralyzed, NOTHING is permanent. The worst thing you can do is not do anything. Run your numbers, factor some vacancy rate (time the unit is unoccupied), maintenance repairs, expenses (maybe even pad this number with how quickly inflation is going up), plan for some improvements, and we always factor some management fee in even if we are self-managing. If after all of those things considered, you're making a monthly cash-flow that' s comfortable to you and the property has a solid Plan B if needed, go for it!

Hi Shannon! We cover Eastern Iowa with a focus on Cedar Rapids/Iowa City. We've been investing since 2008. Own 19 rentals of our own now and it's been a very stable market with both cash-flow and appreciation. Nothing that makes you wealthy overnight! Just a strong, stable build year-over-year. We have a mix of Corporate Headquarters, Universities, and Teaching Hospitals all within a 45-minute radius that really drive the stability!

Hi Kenton,

We cover the Iowa City/Cedar Rapids market otherwise known as the Iowa Corridor. 

-Mallory