Tim Steele has been investing in real estate in Burlington, Iowa area for about 8 years, becoming a full-time investor about 6 months ago. Growing up his parents had rental properties, so he’s always been familiar with the world of real estate and always knew that it was something he wanted to pursue. After 10 years of service in the Marines, a degree in business, and 3 years as an Operations Manager, he knew it was time to come home to Iowa and really start going for his dream.
In this episode, Tim shares what it’s like to invest in a small market, including both the challenges and the benefits of flipping houses in a smaller market. Tim says, “The deals are out there; you can always find deals. But, with a market population less than 100,000, there are not enough of the same kind type of deal. So, we have done a variety of deals: land, multi-family, foreclosure, trustee auctions, subject to, out of state owners, wholesale and currently working on our first spec home. In 2017, we did 9 deals. This year we are on pace to do 18 – 20 deals.”
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