Category: Cedar Rapids Lessons
1.0% Appreciation in Marion?
January 4th, 2009Here's another Marion property that was submitted by a user that we will use as a teaching tool for our Cedar Rapids, Iowa Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 220 3rd Ave, Marion, IA 52302.
In the table below I show what happens to the value with a modest appreciation rate. Can you have years where this (or any other property for that matter) go down in value? Yes. Might it not go up by as much as we are estimating? Yes. Can it go up by more? Yes. Only time will tell what will happen.
| Years From Now | Value |
| Assumed Appreciation Rate: 1.0% | |
| At Purchase | $54,540 |
| Year 1 | $55,085 |
| Year 2 | $55,636 |
| Year 3 | $56,193 |
| Year 4 | $56,755 |
| Year 5 | $57,322 |
| Year 6 | $57,895 |
| Year 7 | $58,474 |
| Year 8 | $59,059 |
| Year 9 | $59,650 |
As you can see from the table above, if we assume an appreciation rate of 1.0% per year, then the property value eventually reaches $59,650 after 10 years.
If you are just getting started in real estate investing, then understanding all of the new terminology may be a little bit daunting in the beginning. Terms like Escape Clause, Bridge Loans and Curtailments are probably not already a part of your vocabulary. But listening to an audio course, like Real Estate Terminology Volume #2 can help you get up to speed quickly on the parlance of the real estate investing world. Don't delay the advancement of your real estate investment knowledge and your ability to get really good deals in Cedar Rapids.
Until my next post,
James
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Cedar Rapids Housing: $11.32 Per Square Foot
December 29th, 2008I want to share with you some information about a property in Cedar Rapids located at 1435 3rd Ave SE. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
Let's look at this 2 bedroom, 2.00 bathroom property located at 1435 3rd Ave SE that has an asking price of $15,900.
| Price Paid (% of Asking Price) | Price/Square Foot |
| $19,080 (120%) | $13.59/square foot |
| $18,285 (115%) | $13.02/square foot |
| $17,490 (110%) | $12.46/square foot |
| $16,695 (105%) | $11.89/square foot |
| $15,900 Full Price | $11.32/square foot |
| $15,105 (95%) | $10.76/square foot |
| $14,310 (90%) | $10.19/square foot |
| $13,515 (85%) | $9.63/square foot |
| $12,720 (80%) | $9.06/square foot |
As you can see from the table above, if you know what a typical Cedar Rapids property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
If you have marketing out and know that soon you will be talking to real, live, motivated sellers in Cedar Rapids, you probably want to have a plan in place for how you're going to handle these calls. You may find it useful to listen in as Jassen and Jamie role play through a series of scenarios that will help you get prepared for asking your motivated sellers those tough or sensitive quesitons. Check out How to Talk To Motivated Sellers: Role Playing Volume #3 to gain the confidence and knowledge that you need.
Keep on investing Cedar Rapids,
James
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$6.17 per sq ft in Cedar Rapids
December 19th, 2008Here's another Cedar Rapids property that was submitted by a user that we will use as a teaching tool for our Cedar Rapids, Iowa Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 1631 Ellis Blvd NW, Cedar Rapids, IA 52405.
Let's take a closer look at some calculations for this 3 bedroom, 1.00 bathroom property located at 1631 Ellis Blvd NW that has an asking price of $6,000.
| Price Paid (% of Asking Price) | Price/Square Foot |
| $7,200 (120%) | $7.41/square foot |
| $6,900 (115%) | $7.10/square foot |
| $6,600 (110%) | $6.79/square foot |
| $6,300 (105%) | $6.48/square foot |
| $6,000 Full Price | $6.17/square foot |
| $5,700 (95%) | $5.86/square foot |
| $5,400 (90%) | $5.56/square foot |
| $5,100 (85%) | $5.25/square foot |
| $4,800 (80%) | $4.94/square foot |
As you can see from the table above, if you know what a typical Cedar Rapids property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Perhaps you've struggled with finding enough good deals in Cedar Rapids. Well, the single most important step to take is to start marketing! If you need help figuring out where to start, please look at our Marketing to Buy Resource on the Real Estate Investor Cookbook.
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Cedar Rapids Distressed Property: $5,250 Per Bedroom
December 18th, 2008Here's another Cedar Rapids property that was submitted by a user that we will use as a teaching tool for our Cedar Rapids, Iowa Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 1345 9th St NW, Cedar Rapids, IA 52405.
This 2/1.00 822 square foot property has an asking price of $10,500, but let's take a moment to do some calculations to see what our actual cost per bedroom would be based on various offer prices (both above asking price and below asking price).
| Price Paid (% of Asking Price) | Price/Bedroom |
| $12,600 (120%) | $6,300/bedroom |
| $12,075 (115%) | $6,037/bedroom |
| $11,550 (110%) | $5,775/bedroom |
| $11,025 (105%) | $5,513/bedroom |
| $10,500 Full Price | $5,250/bedroom |
| $9,975 (95%) | $4,988/bedroom |
| $9,450 (90%) | $4,725/bedroom |
| $8,925 (85%) | $4,463/bedroom |
| $8,400 (80%) | $4,200/bedroom |
As you can see from the table above, if you know that rents in Cedar Rapids can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
When you hear Dream Team, do you still think of Michael Jordan, Magic Johnson and Larry Bird dominating the court in the 1992 Barcelona Olympics? Well...how about your own all-star team of professionals making your real estate business run like a well-oiled machine? Want to know how to get started? Check out Jassen's CD Selecting Your Dream Team Members for some great pointers on finding and keeping your own MVPs in Cedar Rapids.
Until next time,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Cedar Rapids Real Estate Deal: $14.12 Per Square Foot
December 13th, 2008I want to share with you some information about a property in Cedar Rapids located at 2010 6th St NW. This particular property is for sale and was submitted by one of our researchers, but I'll be using it as an example. If you want to run your own full investor analysis on this property, you can do that using our Offer Generator.
This 3/1.00 1,204 square foot property has an asking price of $17,000, but let's take a moment to do some calculations to see what our actual price per square foot would be based on various offer prices (both above asking price and below asking price).
| Price Paid (% of Asking Price) | Price/Square Foot |
| $20,400 (120%) | $16.94/square foot |
| $19,550 (115%) | $16.24/square foot |
| $18,700 (110%) | $15.53/square foot |
| $17,850 (105%) | $14.83/square foot |
| $17,000 Full Price | $14.12/square foot |
| $16,150 (95%) | $13.41/square foot |
| $15,300 (90%) | $12.71/square foot |
| $14,450 (85%) | $12.00/square foot |
| $13,600 (80%) | $11.30/square foot |
As you can see from the table above, if you know what a typical Cedar Rapids property sells for on a price per square foot basis, you can quickly use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Does 2010 6th St NW look like a good deal to you? If not, have you used the Offer Generator to see what it would take to make it work? If you could get this property at the right price, how would you go about marketing it?
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Cedar Rapids Real Estate Deal: $6,633 Per Bedroom
December 10th, 2008We just had a researcher submit some very basic information about a house for sale in Cedar Rapids to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for Cedar Rapids, Iowa Real Estate Resources is located at 515 7th Ave SW, Cedar Rapids, IA 52404.
Since this 3 bedroom, 3.00 bathroom property has an asking price of $19,900, let's take a look at what various offers would mean in terms of price per bedroom. Then you can select the offer price you would like to run further analysis on using the Offer Generator.
| Price Paid (% of Asking Price) | Price/Bedroom |
| $23,880 (120%) | $7,960/bedroom |
| $22,885 (115%) | $7,628/bedroom |
| $21,890 (110%) | $7,297/bedroom |
| $20,895 (105%) | $6,965/bedroom |
| $19,900 Full Price | $6,633/bedroom |
| $18,905 (95%) | $6,302/bedroom |
| $17,910 (90%) | $5,970/bedroom |
| $16,915 (85%) | $5,638/bedroom |
| $15,920 (80%) | $5,307/bedroom |
As you can see from the table above, if you know that rents in Cedar Rapids can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Have you ever wondered just what it will take for you to become a successful real estate investor in Cedar Rapids? The powerful influence of a personal mentor can make the diffenece between reaching your goals and constantly falling short of them. Find out what mentoring is all about and learn where to start in looking for your own personal real estate mentor in Jassen's CD: Personal Real Estate Mentor. It may be that a little personal leverage and one on one teaching are just what you need to succeed.
Until my next post,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Cedar Rapids Deal: $14,833 Per Bedroom
December 8th, 2008We just had a researcher submit some very basic information about a house for sale in Cedar Rapids to us and I wanted to share that with you. From time to time, I'd like to take a property submitted to us by our users that is for sale and show you how changes in one (or more factors) can affect various aspects of your investing. This particular property submitted for Cedar Rapids, Iowa Real Estate Resources is located at 129 19th Ave SW, Cedar Rapids, IA 52404.
This 3/1.00 1,111 square foot property has an asking price of $44,500, but let's take a moment to do some calculations to see what our actual cost per bedroom would be based on various offer prices (both above asking price and below asking price).
| Price Paid (% of Asking Price) | Price/Bedroom |
| $53,400 (120%) | $17,800/bedroom |
| $51,175 (115%) | $17,058/bedroom |
| $48,950 (110%) | $16,317/bedroom |
| $46,725 (105%) | $15,575/bedroom |
| $44,500 Full Price | $14,833/bedroom |
| $42,275 (95%) | $14,092/bedroom |
| $40,050 (90%) | $13,350/bedroom |
| $37,825 (85%) | $12,608/bedroom |
| $35,600 (80%) | $11,867/bedroom |
As you can see from the table above, if you know that rents in Cedar Rapids can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Are you the weekend warrior type of investor? If so, you could seriously benefit from having an investment savvy real estate agent in your corner helping you to find deals worth your valuable time (and ultimately money). With all the deals in Cedar Rapids you need to look at before you even find ones that meet your basic criteria, it makes sense to get some help from a realtor that understands your personal investing needs.
Sincerely,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!
Anamosa Price Per Bedroom Analysis on Anamosa, IA Real Estate Deal
November 30th, 2008Here's another Anamosa property that was submitted by a user that we will use as a teaching tool for our Cedar Rapids, Iowa Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 206 W Carroll St, Anamosa, IA 52205.
This 3/1.00 1,180 square foot property has an asking price of $51,300, but let's take a moment to do some calculations to see what our actual cost per bedroom would be based on various offer prices (both above asking price and below asking price).
| Price Paid (% of Asking Price) | Price/Bedroom |
| $61,560 (120%) | $20,520/bedroom |
| $58,995 (115%) | $19,665/bedroom |
| $56,430 (110%) | $18,810/bedroom |
| $53,865 (105%) | $17,955/bedroom |
| $51,300 Full Price | $17,100/bedroom |
| $48,735 (95%) | $16,245/bedroom |
| $46,170 (90%) | $15,390/bedroom |
| $43,605 (85%) | $14,535/bedroom |
| $41,040 (80%) | $13,680/bedroom |
As you can see from the table above, if you know that rents in Anamosa can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Absentee Owners, or owners that own property in Anamosa, but have their tax bill sent to an address other than the property address, can be a great source of both motivated sellers and investor buyers. In the page on how to send out Absentee Owner Postcards on the Real Estate Investor Cookbook, you can find my own personal tips for working with Absentee Owners.
Sincerely,
James
Get priority e-mail notifications of new real estate deals, a FREE real estate course and more real estate investor articles. Click here!