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When To Sell ???????

  Real estate is cyclical. Typical cycles last 7-10 years. We have both been in the real estate business 40+ years and have been thru 3 of these cycles. In the late 1970’s we sold a lot of product at Cap rates of 9 to 10. The market changed drastically in the early 1980’s driven by skyrocketing interest rates and…

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Competition from Subsidized Housing

Community Development Block Grant and other incentive programs have spurred a significant number of new subsidized units. These programs incentivize builders with grants and tax credits that reduce the construction cost provided that they rent a percentage of the units to lower income Tenants. Problems can occur if there are a lack of tenants that qualify for the subsidized units….

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Leased Investment Opportunity 317 Hickory St, Anamosa Very nice newer all steel building Priced at $139,000 this 3 tenant building  has a mix of Residential and Commercial Tenants Includes a barber shop and an Insurance agency as well as a nice 1 bedroom apartment Potential to increase income. Call or email for details Mike Shaffer, 319-360-6118 or mjshaffer@ccim.net

INCREASING OCCUPANCY Part II

Be sure your units put their best foot forward. Are they clean? Carpet and appliances in good condition? Fresh paint? How is your signage? Up to date and in good condition? Does it have good contact information including website and email. How about entries and common areas? No matter how nice the units are if the halls, parking, laundry and…

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Increasing Your Occupancy

It’s critical to keep up with the competition and they are increasing the use of social media, websites, Facebook, etc. Make sure your website ranks well on Google and other search engines because if potential tenants see the competition first, you risk never even being considered. If you don’t have a website, get one, and post pictures and floorplans of…

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Apartment Opportunity

We just ran across  96 units in Charles City Iowa just north of Cedar Falls. $1,550,000. That is only $16,145/unit. Mix of 1,2,3 Bedroom units. We just received the financials from listing broker and are reviewing them. Give us a shout if you would like more info Mike and Bob Multifamily Associates, Skogman Commercial

Multifamily investments with your IRA Retirement Funds

If you’ve ever considered moving your retirement funds into a self-directed IRA to purchase investment properties, here’s a great article from the CCIM institute on the subject: Self-directed IRAs provide a twofold opportunity for CRE pros http://www.ccim.com/cire-magazine/articles/323458/2014/03/real-estate-nest-egg Other considerations Often times retirement funds will not allow you to personally sign for a note, so a non-recourse loan is required. Today…

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Multifamily High Time: A Seller’s Market?

With prices peaking and buyers aplenty, seven years after the top of the last upturn, the time may be right again to sell. Here’s an interesting article every multifamily owner should read and read close: http://www.multifamilyexecutive.com/dispositions-and-transactions/high-time_o.aspx?dfpzone=home&utm_source=newsletter&utm_content=jump&utm_medium=email&utm_campaign=AFTBU_020314&day=2014-02-03 The larger investment companies and many REIT’s are selling multi-family apartments as they cannot justify 4% CAP rates with 6% interest rates. If buyers…

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Correction: Apartment properties NOT eligible for Iowa Property Tax Relief Act

Yesterday we reported on How to Apply for Property Tax Relief Act for apartment owners but that information was incorrect. Multifamily apartment owners are not part of this relief act, actually they are part of a rollback program over the coming years. You can review and get more details of the Iowa Property Tax Reform here: http://www.iowa.gov/tax/locgov/13PTReform.html  

List Your Properties on IowaHousingSearch.org for Free!

Iowa Rental Property Providers: List Your Properties on IowaHousingSearch.org for Free!   Dear Property Provider:   The Iowa Finance Authority (IFA) is pleased to introduce IowaHousingSearch.org, a service that will allow greater access to real-time Iowa rental housing information.   We strongly encourage you to use the new site to advertise properties free of charge beginning today. The site will be…

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