New Invester in Omaha

[Chas Lumley]

Hey everyone!

I'm new to the real estate game and wanted to try out the Omaha area since I'm stationed at Offutt AFB. I was wondering if anyone had any tips or tricks for this area dealing with the insanely high property tax and insurance rates? The taxes and insurance are absolutely killing every deal I analyze. 

I'm focusing on multifamily properties, so if anyone has any tips I'd be all ears!

[Henry Clark]

Are you military?  E5 or higher?  Use your BAH and others BAH.  Get the biggest house you can afford and rent the other rooms out to military with BAH.

1.  Let’s say your deal analysis comes out to zero.  And you sell it for the same price.  You stay there for say two years.  You make all of the BAH payments back tax free for you.

2.  Worried about no pays or damage?  No issue.  Get their commanding officer and they will have them make it right.  

3.  Find a military friendly realtor for lower commission fees if possible.  

4.  Buy the worst house in a great neighborhood and fix up.  Find three properties and make offers on all three at once subject to.  Make good offers for you.  

5. Look at properties that you can ADU or split property off. Example 3/1 you can add a bathroom. Or double triple lot property.

6.  Look at only listing older than 3 months.  

7.  Use another realtor who will be your friend when you sale as your buyers agent.  This is free money for them.    

8.  Check out Hawaiian village, Papillion great school district, etc.  Pick a property that is special.

9.  Go to military Facebook group.  Make a post here with Military and Offutt in it. 

10. VA loan. Check with credit union. Ask them for advice on neighborhoods, realtors, or properties they may have for sale.