The Deal Flow

EP. 4 - $1M Industrial-Secured Note — Paper to Trade Into Value-Add Deals (with Jason Dillard)

The Deal Flow — Wed, 26 Nov 2025 16:06:58 GMT

In this episode of The Deal Flow, Spencer Schelp speaks with broker-investor-exchanger Jason Dillard of DPHRE about a unique $1M industrial-secured note structured to generate steady income — and how Jason intends to use it to trade into larger value-add opportunities nationwide.
The note pays $5,000/month, includes a $400k payment in 2026 and a $600k balloon in 2030, and is secured by a 200,000 SF industrial asset valued at ~$1.5M with tenants in place.
Jason discusses the origin of the paper, the collateral behind it, and the types of “problem properties” he wants to acquire using this instrument.
He’ll look at land, empty buildings, distressed assets, and anything with upside anywhere in the U.S.

EP. 3 - 49-Unit Value-Add Opportunity: Woodland Meadows Apartments, Des Moines, IA

The Deal Flow — Fri, 07 Nov 2025 22:44:19 GMT

In this episode of The Deal Flow, host Spencer Schelp talks with Josh Kirby of Stanbrough Realty about Woodland Meadows Apartments — a 49-unit multifamily opportunity in Des Moines, Iowa with strong value-add potential.

Halfway through renovations and roughly 50% occupied, the property includes $150K in on-site materials (flooring, cabinets, appliances, etc.) ready for the next owner to complete the project. Kirby outlines pricing guidance in the mid-$2M range, an exit valuation near $3.3M, and structures that appeal to investors seeking a hands-on repositioning or short-term depreciation play.

Highlights:

49 total units | mix of 1BR & 2BR
51% occupancy, 50% renovated
~$150K in materials on-site to finish 12–15 more units
Potential exit ≈ $3.3M at a 7.75% cap
Boiler heat | RUBs already in place | single parcel
Attractive basis: under $60K per door in Iowa’s capital metro

🎯 Broker Contact:
Josh Kirby – Stanbrough Realty
📞 515-402-7941
📧 josh.kirby@stanbroughrealty.com

🔗 Property Links:
View on Crexi
View on LoopNet

🐦 x.com/TheDealFlow_US
🌐 thedealflow.us

Ep. 2 — Cedar Rapids, IA · 56-Unit Multi · FLA Trade Potential (w/ Josh Kirby, Stanbrough Realty)

The Deal Flow — Fri, 31 Oct 2025 01:24:36 GMT

Host Spencer Schelp welcomes back Josh Kirby of Stanbrough Realty to discuss a 56-unit multifamily portfolio in Cedar Rapids, Iowa — located less than two miles from downtown and across the Cedar River in a strong workforce housing corridor.

Built between 1983 and 1991, the asset includes seven 8-plex buildings totaling 56 units — 40 two-bedroom (~900 SF) and 16 one-bedroom apartments. The owner, a local operator with about 1,000 units in the area, owns the property free and clear and is asking $3.65 million.

He’s open to creative deal structures or trades for Florida residential assets as part of his relocation.
Occupancy is just over 90 %, with below-market rents and opportunity to increase income through light renovations and a RUBS (utility bill-back) program. Boiler systems supply heat and water, currently paid by ownership.

Cedar Rapids remains one of the Midwest’s most affordable and stable multifamily markets — recently ranked #2 Most Affordable City in the U.S. (CNBC) — and is seeing major new investments including:

$500 million Google data center expansion
$275 million casino and entertainment development

Together, these projects are expected to drive strong job growth and housing demand across the region.

Deal Snapshot
💰 Ask: $3.65M · Free & Clear
📊 Occupancy: ~90 %
📈 Rent Upside: +$100–125 / unit
🔧 Boiler Systems: Owner pays heat & water
🤝 Structure: Creative financing / Florida home trade considered

Guest: Josh Kirby — Stanbrough Realty
✉️ josh.kirby@stanbroughrealty.com · 515-402-7941

Listen on Spotify:
https://open.spotify.com/episode/6Jmo2bDIaON2rzTyosUZLQ

Explore more at: TheDealFlow.us
Follow @thedealflow_us for new episodes and market updates.

Ep. 1 — Ottumwa, IA · Mixed Use w/ Seller Finance (w/ Josh Kirby, Stanbrough Realty)

The Deal Flow — Fri, 31 Oct 2025 01:19:18 GMT

Host Spencer Schelp talks with Josh Kirby of Stanbrough Realty about a rare small-market portfolio in Ottumwa, Iowa — a three-building mixed-use property held by the same owner for over 30 years.

💰 $1.8M ask · NOI ≈ $166K · Free & Clear
🤝 Seller Financing: 15–20% down · 5-year term · interest-only possible

🏢 Includes:
• 4,500 SF Nucara Pharmacy (2005)
• 12,000 SF 6-unit strip center (1968)
• 2-story mixed-use with 4 new apartments (2020 conversion)

🌆 Ottumwa, IA — a stable, blue-collar corridor with long-term tenants and steady cash flow.
Ownership is retiring and prefers a qualified buyer ready to continue the property’s success.

📞 Guest: Josh Kirby — Stanbrough Realty
✉️ josh.kirby@stanbroughrealty.com · 515-402-7941

🎧 Full episode on Spotify:
https://open.spotify.com/episode/1UwnPBDu11zH1hTHw9Iw01

Explore more at TheDealFlow.us
Follow @thedealflow_us for future episodes.