Des Moines, Iowa

Property

Sample Units:

Why This Provider?

Based in Des Moines, Iowa, this provider has been buying and holding investment properties for the past 10 years. In addition to continually growing their own portfolio, they provide Turnkey Properties to interested investors. They emphasize the benefits that Des Moines has to offer, the low cost of living, high rents, and a growing economy.

  • Family-Owned Company That Has Been Investing In The Market For 11+ Yrs
  • They Specialize In B&C-Class Single- Family Homes and Multifamily Homes
  • The Average Rent Is $1,250 For A $135k Purchase Price

Team

Property Management:

Specializing in the management of single family homes, condos, townhouses, and duplexes. This property manager is continually perfecting its  property management services—they focus on creating an exceptional experience for owners and residents.

  • If an owner calls and they don’t respond via phone or e-mail within 24 business hours or less, they that month’s management fee
  • If an owner finds a competitor with a lower fee they will match it and give another 5% off the monthly management fee
  • If they don’t mail your rent within 5 business days of receipt of the rent, they will waive the management fee for that month
  • They guarantee the lowest cost for maintenance repairs, with set pricing agreed upon by vendors agree
  • They will conduct a monthly exterior inspections and take a picture of the front of the property, viewable in the owners portal
  • Annual inspection with multiple pictures

Get Pre-Approved:

Prior to contacting this provider, if you plan on conventional financing, please consider the following. You will likely need:

  • A down payment of at least 20% for single-family homes and 25% for multi-families
  • A low debt-to-income ratio
  • 2 years of job history with a U.S. company or 2 years of self-employment history
  • Six months of reserve funds
  • A credit score of at least 680 (higher, is ideal)

In order to prepare for your pre-approval, start gathering the following documents. Your lender may require more documentation, but you should be ready to provide copies of these documents, at a minimum:

  • Last 2 paystubs
  • Last 2 months of bank statements (all pages should be included)
  • Last 2 years of tax returns and W2s

GRE recommends Ridge Lending Group.

Market

Market Profile:

The Greater Des Moines MSA was the fastest-growing major Midwest metro population-wise from 2010 to 2020. It has become an attractive area for Millennials due to the number of available jobs, home affordability and the local culture. In fact, Des Moines was ranked #1 on the U.S. News and World Report for opportunity! Major employers in the area include MercyOne, Principal Financial Group and AMCO Insurance Company.

Quick Facts:

  • High Job Growth, Net In-Migration And Quality Of Life.
  • 13 Best Places To Live. (U.S. News, 2021)
  • Metro Population Of 680,439.
  • #11 Most Affordable Place To Buy A Home. (Forbes 2021)
  • #3 State Recovering Quickest From Covid-19. (WalletHub 2021)

Population: 215,408
Metro Size: 719,146
GDP Per Capita: $56,234
Cost of Living72.2
Area: 90.7 square miles
Elevation: 955ft
Region: The Midwest
Time Zone: Central

Resources

Map:

Economy:

Climate:

Video:

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