Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
Storm Lake Iowa Lake Property Under Renovation - watch the video documentation
317 E Lakeshore Drive Storm Lake, IA is a massive structure, 3 stories that look out over a beautiful park and then onto the lake. It came into my life when an investor I work with told me they were talking to the owner and they wanted to buy the property. Their question to me, what is it worth, how much can I pay for it and afford to renovate it so it has a good positive cash flow? My response, let's get in to see it and then I'll have a much better idea of the repairs and purchase price to see how it will cash flow. We went in, and I was very pleasantly surprised, looked bad and did need a lot of basic stuff - like a roof asap, but everything was possible in my opinion. An untrained eye (I also buy and renovate property) would have been overwhelmed with the shear amount of stuff in the building, the cracked plaster, the old appliances, broken windows, hole in one bathroom floor, doors to nowhere and a leaking roof. I saw a cash cow! Had the investors I was working with decided to not purchase I would have most definitely bought this one.
Purchase price was agreed upon, closing ... more
Are you on The Rain? Grow Your Network!