The Investing in Iowa Show

EP 128 From 401k Plans to Property Plans: Steve Davis on Specializing in a Small Market

What does it take to become the only CCIM-designated broker in your entire market? Steve Davis joins Neil Timmins to share how a financial advisor-turned-commercial real estate broker built a thriving practice in Dubuque, Iowa. From his early days at 801 Grand in Des Moines to launching Equity Real Estate Group, Steve's path is a study in patience, specialization, and serving clients first. Steve walks through his transition from W-2 employee to full-time broker in 2018, the role COVID played in earning his broker license, and why CCIM training opened doors to bigger deals and a wider network. He also explains how a partnership with developer clients, retail leasing, and industrial transactions now drives his business. Looking ahead, Steve is partnering with Greater Dubuque Development Corp on a market-wide commercial inventory project, growing his brokerage team, and mentoring agents who want to move from residential into commercial work. 🧠 Steve Davis' Top 5 Takeaways: * How a fiduciary background from financial advising shapes a client-first approach in brokerage * Why does earning a broker license and CCIM designation set Steve apart in a small commercial market * How focusing on geography rather than a single asset class works when you serve a smaller city * Why collecting proprietary market data gives both brokers and the community a long-term edge * How collaboration and mentorship inside a brokerage produce better outcomes than competition 👤 About Steve Davis: Steve Davis is a commercial real estate broker and property manager based in Dubuque, Iowa. He is a partner and managing broker of Equity Real Estate Group and a partner and managing broker of Premier Property Management Group. A graduate of Buena Vista University, Steve began his career in financial advising in Des Moines before returning home to Dubuque, where he later transitioned into real estate full-time in 2018. Steve holds the CCIM designation and is currently the only CCIM-designated broker in Dubuque. He focuses on development, retail leasing, office, and industrial transactions, and partners with Greater Dubuque Development Corp on commercial market research. Contact Info: Website: www.equityrealestatedbq.com [https://equityrealestatedbq.com] Website: www.premierdbq.com [https://premierdbq.com] LinkedIn: Steven Davis, CCIM [https://www.linkedin.com/in/stevedavisdbq/] Learn More: www.littleguyloans.com/learnmorepod [https://www.littleguyloans.com/learnmorepod]

EP 127 Three Generations, One Mall: Liz Holland on Pivoting Merle Hay for the Next Era

What does it take to keep a 70-year-old mall relevant across three generations of family ownership? Liz Holland is the CEO of Merle Hay Mall and the third generation of her family to lead the business that originally bought the land in 1956. In this episode, she walks Neil Timmins through nearly three decades at the helm, starting with the day her 87-year-old grandfather called her in 1997 and told her to leave her legal career in New York and move back to Chicago to take over. Liz breaks down the pivots that have kept Merle Hay alive while other malls have faded. She explains how bringing in Target in 2005 with a mall entrance reshaped the property into a weekly destination, how the addition of junior anchor boxes like Ulta, Ross, and Five Below hybridized the center, and why Flix Brewhouse became an early bet on entertainment in 2014. She also gets candid about the harder chapters: losing both Yonkers and Sears as anchors within 45 days in 2018, the long road of the Iowa Reinvestment Act award, and the eventual pivot from a Buccaneers ice arena partnership to a national volleyball league, Dinks Pickleball, and a multi-use arena that will host Drake Hockey and the Iowa Demon Hawks. Liz contrasts Merle Hay's path with Valley West's structural challenges, shares her vision for the next 20 years, and reflects on what her grandfather taught her about location, patience, and the fact that the work is never really done. 🧠 Liz Holland's Top 5 Takeaways: * Why adding Target with a true mall entrance in 2005 turned Merle Hay into a weekly needs destination * How hybridizing the mall with strip-center style junior anchors expanded the universe of potential shoppers * Why leaning into sports and entertainment fights the obsolescence of the traditional anchor box * How losing Yonkers and Sears within 45 days forced a global rethink of the property * Why real estate is a three to five year business when it comes to capital allocation and return 👤 About Liz Holland: Liz Holland is the CEO of Merle Hay Mall and the third generation of her family to run the business, which originally purchased the land from the Passionist Fathers in 1956 and built Merle Hay Plaza. A former Wall Street professional and bankruptcy attorney with federal government experience, Liz returned to the family company in 1997 at her grandfather's request and has led its evolution ever since. Under her leadership, Merle Hay has navigated the arrival of Jordan Creek, the loss of major anchors, and a pivot toward sports and entertainment, including partnerships with Flix Brewhouse, Dinks Pickleball, and a planned multi-use arena. Liz lives in Chicago and continues to focus on Merle Hay's role as a mid-market, value-driven, regional destination. Contact Info: Website: www.merlehaymall.com [http://www.merlehaymall.com] Website: www.abbell.com [https://abbell.com/] LinkedIn: Elizabeth Holland [https://www.linkedin.com/in/elholland/] Learn More: www.littleguyloans.com/learnmorepod [https://www.littleguyloans.com/learnmorepod]

EP 126 Jim Tansey's Shift from CFO to Commercial Real Estate Investor and Operator

What does it really take to go from corporate finance to building a dominant real estate business? Jim Tansey shares a grounded, experience-driven look at his path from Waterloo, Iowa, to leading Hawkeye Commercial Real Estate and Hawkeye Real Estate Investment Company. Starting as a financial analyst and rising to CFO, Jim built a strong foundation in understanding numbers, inefficiencies, and business operations before making a major pivot into commercial real estate. That transition was anything but easy. The early years in brokerage were defined by learning, hustling, and taking every opportunity possible. Jim leaned heavily into education through CCIM, which became a turning point in his career and helped him specialize in investment real estate. Over time, that focus compounded into deeper expertise, stronger relationships, and more opportunities. In 2012, Jim and his partner took the leap into ownership, acquiring their first portfolio and launching what would become their investment arm. Shortly after, they started their own brokerage, driven by a desire to build a better culture and eliminate the frustrations they experienced elsewhere. Today, that people-first, relationship-driven approach has helped them grow into the largest brokerage in their market. Jim's philosophy is simple but powerful: do your job well, treat people right, and play the long game in both business and investing. 🧠 Jim Tansey's Top 5 Takeaways: * Early career skills in finance and analysis translate directly into real estate success * The first years in brokerage require volume, learning, and persistence * Specializing in investment real estate creates long-term opportunity and credibility * Owning real estate builds wealth while brokerage creates income * Culture and relationships, not transactions, are the foundation of a sustainable business 👤 About Jim Tansey: Jim Tansey is the President of Hawkeye Commercial Real Estate and Hawkeye Real Estate Investment Company, based in Eastern Iowa. He oversees brokerage, investment strategy, and property management operations across a growing portfolio. With a background in finance and leadership experience as a former CFO, Jim brings a disciplined, numbers-driven approach to real estate. He is also actively involved in the CCIM Institute, serving as its 2026 Treasurer, and remains committed to education, mentorship, and industry leadership. Contact Info: Company: Hawkeye Commercial Real Estate [https://thehawkeyegroup.com] Website: www.thehawkeyegroup.com [https://thehawkeyegroup.com] LinkedIn: Jim Tansey, CCIM [https://www.linkedin.com/in/jim-tansey-ccim-b0b20812/] Learn More: www.littleguyloans.com/learnmorepod [https://www.littleguyloans.com/learnmorepod]

EP 125 Brent Haverkamp on Turning One College Rental into a 5,000-Unit Iowa Portfolio

Brent Haverkamp shares how a simple college rental purchase sparked a decades-long journey into multifamily real estate. Starting in Ames, Iowa with no experience and borrowed money, he slowly built a portfolio by focusing on cash flow, value opportunities, and creative financing. Within 15 years, he scaled to roughly 1,000 units. But rapid expansion into retail businesses exposed the risks of overconfidence and leverage. Brent was forced to sell nearly 80 percent of his real estate holdings to survive. That painful reset became the turning point that reshaped how he thinks about risk, growth, and long-term success. Coming out of the 2008 financial crisis, Brent leaned into opportunity. By partnering with banks and repositioning distressed condo projects into apartments, he scaled back up to thousands of units across Iowa. Today, his company manages around 5,000 units and continues developing multifamily communities with a disciplined, process-driven approach. 🧠 Brent Haverkamp's Top 5 Takeaways: * Early success without respect for risk can quickly lead to overextension * Creative financing and persistence are critical when capital is limited * The best opportunities often appear during market dislocation * Building a business around systems and people creates long-term sustainability * Success evolves from personal achievement to legacy and impact on others 👤 About Brent Haverkamp: Brent Haverkamp is the founder and CEO of Haverkamp Group. Haverkamp Group had its start when Brent purchased the house across the street from his own. Beginning with that humble investment, he has overseen more than $1 billion in multifamily and commercial projects. Over the last thirty years, Brent, with the help of an amazing team, has grown the company into a vertically integrated organization that handles acquisitions, development, construction, and management, all under one roof. Now, with a portfolio valued at $750 million, Brent guides Haverkamp Group with vision and innovation, hoping to extend a legacy of success in multifamily real estate to the next generation. Contact Info: Company: Haverkamp Group [https://www.haverkampgroup.com/] Website: www.haverkampgroup.com [https://www.haverkampgroup.com/] Website: www.haverkampinvestments.com [https://www.haverkampinvestments.com/] LinkedIn: Brent Haverkamp [https://www.linkedin.com/in/brent-haverkamp-49bb177/] Learn More: www.littleguyloans.com/learnmorepod [https://www.littleguyloans.com/learnmorepod]

EP 124 Niki Mason on Building Through Change Without Losing Sight of People or Purpose

Niki Mason shares a career shaped by early responsibility, long-term growth, and a willingness to keep learning. She reflects on moving to Iowa from the Washington, DC area, working her way through school while staying committed to Hy-Vee, and building a 20-plus-year career in real estate and development at Kum & Go. Over time, she moved from lease administration into executive leadership, helping guide site selection, market strategy, sale-leaseback activity, and large-scale growth across multiple states. She also breaks down what makes a retail site work. Traffic counts matter, but so do access, visibility, surrounding population, and how people actually use a convenience store. Niki explains how those decisions are rarely simple, and why great development comes down to balancing market realities, operational needs, and economics. The conversation also turns personal. Niki talks openly about how loss, adversity, and leadership feedback changed her. She shares how her approach evolved from trying to project confidence to leading with vulnerability, service, and perspective. Now as Vice President of Development for McClure Engineering Group, Niki is applying that operator mindset in a new way. She helps clients move projects through feasibility, design, entitlement, permitting, and construction, while translating what developers need into action across the engineering team. 🧠 Niki Mason's Top 5 Takeaways: * Early opportunities can accelerate growth, but real confidence comes from repeated experience. * Strong retail sites depend on traffic, access, visibility, and the right mix of surrounding demand. * Scaling a company requires better analytics, clearer leadership, and more trust in decision-makers. * Vulnerability and coachability are strengths that help leaders build stronger teams over time. * In development, reducing friction in the city approval and entitlement process creates real value. 👤 About Niki Mason: Niki Mason lives in Waukee, Iowa and serves as Vice President of Development for McClure Engineering Group. She previously spent more than 20 years with Kum & Go and later Maverik, where she led real estate development and served on the executive team. Her background spans site selection, development strategy, sale-leasebacks, team leadership, and multi-state growth. She brings both operator experience and a client mindset to her current role supporting private development projects. Contact Info: Company: McClure [https://mcclurevision.com/] Website: www.mcclurevision.com [http://www.mcclurevision.com/] LinkedIn: Niki Mason [https://www.linkedin.com/in/niki-mason-3291b19/] Learn More: www.littleguyloans.com/learnmorepod [https://www.littleguyloans.com/learnmorepod]