All Forum Posts by: Tanner Duncan

I have it on my property on the east side of Des Moines.  It seems very worth it to me.  It backed up quite a bit 3 winters ago when it was really cold.  I spent near $500 on several roto's and a cam job.  The orangeburg is collapsed and it's only a matter of time before it's completely plugged.  

$10/month covers the roto's when needed and eventually the whole job.  Seems worth it to me. 

I have it on my old home that I now rent out.  It's 8.99/month.  The orangeburg is collapsing, it's only a matter of time.  The 3-5K it's going to cost is covered for 8.99/mo.  I have called multiple times to confirm, this is a rental and no deductible.  

As I sit here, complete noob, thinking, man I despise how expensive Chicago is, yet we go there often...what if I had a air bnb there?  

I'm the Xer trying to catch up on retirement, I don't have time to wait for the cycle to be ideal, so finding great deals is the only priority.

3BD, 2.5BA 1368sqft. Asking $105,000. Renting for $1335/mo, $190/mo HOA

The seller has a nicer 12plex and is traveling abroad 30% of the year so he just doesn't have time to deal with this, AND another one in the same HOA will be sold off (to me!) in the near future, with the same Cap and CoC.

I'm looking for some creative ways to approach this, I have minimal ($5000) cash to put down at the moment.

NEW 3br have been recently built in this area and going for 1500-1700/mo, this is much older, but completely rehabbed. In my area (Iowa City/Coralville) I've been told above 8% is good. The CoC returns seems really good too.

1) Should I try and buy on contract?  What would that look like?  

2) I have some family who could potentially help with the down payment...what are some options for structuring such deal/approaching them?

The numbers:

When is 1% acceptable?

I'm finding my area (North Liberty, IA ) is  a growing area near the University of Iowa.  1% with $200/door is available.  

Houses in North Liberty did not really see much decline after the 2007/2008 crash. 

Hey Elliot, I'm new here. Starting to get things in order to start investing in the Iowa City area. I live in North Liberty and run a small business with time to work on REI.